Shytoshi Kusama Spotlights Shiba Inu’s TREAT Token Blunder

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As a dedicated researcher with extensive experience in the cryptocurrency market, I cannot help but express my disappointment and concern over the recent mishap involving Shiba Inu’s ecosystem token, TREAT, on the Crypto.com exchange. I have closely followed the developments of the Shiba Inu project since its inception and am well-versed with the upcoming utility and governance token, TREAT.

Shiba Inu‘s chief developer, Shytoshi Kusama, recently drew attention on X to an error made by a cryptocurrency exchange concerning TREAT, a token within the Shiba Inu ecosystem. On July 21, Shytoshi posted a message revealing that Crypto.com had given incorrect information about the token to its users.

The post about the TREAT token has quickly generated a large following within the cryptocurrency community, helping to clarify any confusion and providing a secure platform for transactions.

Shytoshi Kusama Unhappy With Crypto.com’s Blunder

I analyzed the post and found that the developer expressed disappointment over an error made by Crypto.com in their write-up about our upcoming TREAT token. They mistakenly assumed that the token had already been launched based on the information they were given. This misconception stemmed from a faulty link to the Treat site provided in a previous article on the crypto platform.

As a crypto investor, I’d rephrase it this way: The link in question didn’t concern the Shiba Inu ecosystem, as clarified. However, Kusama’s post brought attention to the fact that members of the SHIB community had proactively reached out to the exchange to address the issue.

As a seasoned cryptocurrency investor with years of experience under my belt, I cannot stress enough the importance of exercising caution when dealing with new tokens, especially those that are spoofs or imitations of existing projects. Shytoshi Kusama’s recent warning about “this other Treat token” is a clear reminder of this fact. TREAT is an intriguing development in the Shiba Inu ecosystem, serving as the utility and governance token for their new privacy-focused Layer 3 blockchain. However, given the volatile nature of the crypto market, it’s essential to approach every investment with a critical eye and a healthy dose of skepticism.

SHIB Market Performance

At the moment, SHIB‘s price remains at $0.00001779, indicating a pause in its movement. The coin’s minimum and maximum prices over the last 24 hours were $0.00001714 and $0.0000184 respectively.

According to a Shiba Inu price analysis conducted by CoinGape, the token is aiming for a $0.00002 mark due to significant whale purchases. Furthermore, the Relative Strength Index (RSI) has been around 49, suggesting that the meme token could be susceptible to either bullish or bearish market forces.

As a crypto investor, I’ve been closely monitoring the derivatives market data for SHIB, and the recent trends have fueled my curiosity about its uncertain market stance. Specifically, the Open Interest (OI) in futures contracts dropped by 6.98%, amounting to $45.87 million, while the trading volume surged by 6.42% to reach a total of $218.02 million.

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2024-07-22 11:26