Shiba Inu (SHIB) Community Receives Urgent Warning Regarding Scams in Paid Promotions
The Shiba Inu (SHIB) community has received a critical alert urging caution amidst a surge of paid promotions. While the popularity of the dog-themed cryptocurrency has grown significantly, so has the risk of scams and manipulation within the crypto industry. Scammers have taken advantage of SHIB’s meteoric rise, crafting elaborate schemes concealed in paid promotions that claim affiliation with SHIB.
To address this issue, “Shibarmy Scam Alerts,” a dedicated handle focused on exposing scams and safeguarding the Shiba Inu community, has issued a warning. They advise community members to be wary of scams in paid promotions, particularly in articles published on platforms like Yahoo. These scams often pose as legitimate investments and falsely claim to be associated with the Shiba Inu ecosystem.
As a result, Shiba Inu holders are strongly advised to exercise caution and conduct thorough due diligence before engaging with any promotions, especially those that require financial commitment. It is crucial to verify the authenticity of the information through the official SHIB website before taking any action. If an offer appears too good to be true, it is likely a scam.
Despite the presence of these scams, Shiba Inu has experienced significant price growth. CoinGecko data shows that SHIB is set to conclude March with a remarkable 139% increase in value. Starting the month at approximately $0.0000125, the token witnessed a surge in value, reaching highs of $0.000045 on March 5. This impressive rally represented a more than 300% increase in price within a short period. SHIB currently ranks 11th in terms of market capitalization, standing at $18.05 billion.
Although the price has slightly retreated, SHIB continues to trade higher than its opening price in March. At the time of writing, SHIB was up 2.04% in the last 24 hours, trading at $0.0000306, and up 8.96% in the last seven days.
As the month comes to an end, the Shiba Inu community celebrates its significant gains while remaining vigilant against scams and looking forward to the future of the token.