- Scammers impersonate SHIB admin to trick the users.
- SHIB teams call upon all users to be on the lookout as fraudsters compromise them.
- Crypto scams have taken an upward trajectory.
Shiba Inu developers have warned the public to be wary of an ongoing scam. They issued an alert on Twitter. The team said the hoax is targeting investors interested in Shib tokens.
Stay Alert & Safe #ShibArmy!
We've been made aware of a recent scam, traveling social media, and other communication platforms.
Here's a quick video to provide more information on the matter. pic.twitter.com/UOh50WsJSQ— Shib (@Shibtoken) November 21, 2021
The team informed its two million Twitter followers of the various tactics used to defraud them. They went on to give details to look out for when interacting with strangers on Telegram. The scammers are now impersonating the admin of official accounts related to the SHIB. They are commenting on SHIB-related posts.
To win people’s trust, the perpetrators have been lying to the dog coin supporters. The scammers said they would reward people with bonus tokens, including other gifts. SHIB investors have been advised not to share their wallet keys with unknown persons. Through a video that was under one minute, the SHIB team addressed this ongoing scam. They noted that a suspicious telegram group under their name is being shared across social media.
The team said the scammers are targeting hashtags like #shib, #leash, #shibaswap, #bone, and #shibarmy. They noted that Shiba Inu is not planning any big event soon. They further said that the giveaways were false.
Crypto scams on the rise
The popularity of digital assets across the globe is undeniable. Investors are making huge profits every day. While digital assets offer users autonomy, they can be targeted by fraudsters. Recently crypto scams have been on the rise. It is so because cryptos lack the authority to govern their functioning.
The rising demand for digital assets has been rising. The value of cryptos has not been left behind either. For these reasons, they have become a target of scams. Investors are a target for fraudsters who are looking to make some easy money. They will exploit unwary victims to get rich fast. Several users have fallen victim to fraud.
Earlier this year, a Coinbase user got swindled over $11 million.
According to reports, the user opened a phone notification that was similar to one for Coinbase. The individual lost the money through this fraud scheme that turned out not to be Coinbase.
Shiba Inu is slipping
The Dogecoin competitor was established in August 2020. ShibaSwap is the decentralized exchange of the meme coin. SHIB presently has a market cap of about $25 billion. It has risen by over 60,000,000 percent since last year.
Shiba Inu has attained $0.000088 in October. At the end of last week, it was trading at $0.000077. It dropped by more than 10 percent on Thursday. As of this writing, it has tumbled to $0.000043. The coin’s fall has been linked to a whale transferring over $2 billion worth from their crypto wallet.
New SHIB Whale Holds 3.2 Trillion Shiba Inu Tokens Amid Accumulation Spree
An anonymous buyer has over 3.2 trillion SHIB tokens in his possession after a recent accumulation spree
According to WhaleStats, the crypto market has witnessed the birth of a new SHIB whale. The anonymous buyer, who has been on a recent accumulation spree, now holds nearly 3.2 trillion SHIB tokens.
In three large transactions, the SHIB whale bought $120,342,829 million worth of Shiba Inu to join the growing list of large holders for the dog-themed coin.
Woof! Woof! 🐕
👏🤔 New #SHIB whale was born!!!
Holds 3,243,484,849,528 $SHIB ($120,342,829 USD)
Welcome to the #ShibArmy Family! pic.twitter.com/vM4Ei3SHlg— WhaleStats – the top 1000 Ethereum richlist (@WhaleStats) December 8, 2021
The first large transaction appeared on the blockchain about two days ago when the whale bought nearly 3.15 trillion Shiba Inu tokens, or $105,487,757 worth. This was followed by two transactions within a period of 30 minutes of 84.7 billion SHIB ($3,233,066) and 8 billion SHIB ($275,776) on Dec. 7.
As of press time, SHIB was trading at $0.00003620.
SHIB adoption continues to grow
As reported by U.Today, SHIB is now listed as a payment method on Travala.com to book over 3 million travel products worldwide. California-headquartered electronics seller Newegg stated in late November, integrating Shiba Inu through a partnership with payment processing service BitPay.
Likewise, AMC, the number one movie theater chain in the world, became the first BitPay customer to decide to accept Shiba Inu. In mid-November, CEO Adam Aron confirmed that the new payment option would be added in early 2022.
Dogecoin Killer Shiba Inu to Start Trading on Bitstamp
Despite snubbing Dogecoin earlier this year, Bitstamp has now listed rival Shiba Inu.
Bitstamp, one of the longest-standing cryptocurrency trading platforms in the world, has listed Shiba Inu (SHIB) in what appears to be one of the most significant endorsements for the meme coin to date.
Deposits and withdrawals have already been opened, with trading kicking off on Dec. 9 at 8:00 a.m. UTC.
Apart from Shiba Inu, Perpetual Protocol (PERP), dYdX (DYDX) and Gala (GALA) have also been added to Bitstamp.
It is worth mentioning that the aforementioned cryptocurrencies will not be available in the U.S. and Singapore for now.
As reported by U.Today, Bitstamp also listed Cardano (ADA) in late November.
Quality over quantity
Bitstamp, which was launched all the way back in 2011 as a European alternative to the now-defunct Mt. Gox exchange, is known for its strong emphasis on regulatory compliance.
Sticking to its conservative listing policies, the Luxemburg-headquartered exchange chose to ignore Dogecoin despite the immense retail interest that pushed the price of the original meme coin through the roof in early 2021.
Bitstamp CEO Julian Sawyer commented on the snub in September, claiming that the exchange chooses quality over quantity. He took issue with centibillionaire Elon Musk’s influence on Dogecoin’s price action:
The issue is that if you go to some that are hyped up by a billionaire’s tweet, or crashes on a billionaire’s tweet, we don’t think that’s right.
Bitstamp remains the largest European exchange by trading volume.
SHIBA INU Forecast December 8, 2021
SHIBA INU is trading at the time of the publication of the forecast at the level of 0.00003715, and continues to move within the correction and the downward channel. Moving averages indicate a bullish trend. Prices broke through the area between the signal lines upward, which indicates pressure from buyers of the coin and a potential continuation of growth from the current levels. As part of the SHIB/USD rate forecast, one should not consider an attempt to develop a bullish correction in the value of a digital asset and a test of the resistance area near the level of 0.00003995. From where a rebound is expected again downward and an attempt to continue the fall of the SHIBA INU cryptocurrency with a potential target below the level of 0.00003005.
SHIBA INU Forecast December 8, 2021
An additional signal in favor of reducing SHIB/USD quotes for tomorrow will be a rebound from the resistance line on the relative strength index (RSI). The second signal will be a rebound from the upper border of the descending channel. Cancellation of the growth option for the SHIBA INU cryptocurrency will be a fall and a breakdown of the 0.00004695 area. This will indicate a breakdown of the resistance area and continued growth of SHIB/USD quotes with a target above the level of 0.00004995. Confirmation of the fall in the cryptocurrency will be the breakdown of the support area and the closing of quotations below 0.00003155.
SHIBA INU Forecast December 8, 2021 suggests an attempt to develop a small correction of the coin and test the resistance area near the level of 0.00003995. Then, the continuation of the fall to the area below the level of 0.00003005. An additional signal in favor of reducing SHIBA INU will be a test of the trend line on the relative strength index (RSI). Cancellation of the fall option will be a strong growth and a breakdown of the 0.00004695 area. This will indicate a continued rise in the cryptocurrency with a target above the level of 0.00004995.