Home Blog Page 1418

Here’s Shiba Inu Price if Ethereum Reaches $22,000 As Predicted by VanEck

Sam Wisdom Raphael
-
0
Here’s Shiba Inu Price if Ethereum Reaches $22,000 As Predicted by VanEck

Shiba Inu could breach the $0.00014 price level if it trails Ethereum price in the event that ETH clinches the $22,000 target predicted by VanEck.

VanEck Sees Ethereum at $22,000 by 2030

For context, leading asset manager VanEck recently adjusted its outlook for Ethereum, proposing a possible six times increase in price per unit and a $66 billion cash flow. As reported by The Crypto Basic, VanEck’s latest projection was fueled by the recent approval of spot Ethereum ETFs by the U.S. SEC.

With these investment products poised to introduce greater capital to the Ethereum market, industry experts believe this development could bolster Ethereum’s price, triggering a spike to greater heights. This phenomenon was recently observed with the recently-introduced spot Bitcoin ETFs, which have seen a cumulative net inflow of $15.69 billion since January.

The inflows to these instruments contributed to Bitcoin’s spike to a new all-time high above $73,000 three months back. Considering these events, analysts at VanEck believe Ethereum could record similar gains. As a result, they project a $22,000 price target by 2030, the next six years.

Shiba Inu Price if It Trails ETH Surge

Meanwhile, we recently assessed how much Shiba Inu could rise if it trails Ethereum on the back of this price surge. Notably, data from IntoTheBlock indicates that SHIB boasts some level of price correlation with Ethereum, with a 30-day correlation of 69%, as reported by The Crypto Basic earlier this week.

This suggests that Shiba Inu could follow Ethereum’s price movements to an extent as ETH journeys to the $22,000 price goal. Remarkably, for Ethereum to reach this $22,000 value, it would have to spike by 494% from its current price of $3,700. Also, this $22,000 price would lead to an ETH market cap of $2.64 trillion.

If Shiba Inu records similar gains, its price could rally to unprecedented highs. SHIB currently changes hands at $0.00002394, having slumped by 5% over the last 24 hours to break below the $0.000025 support. A similar 494% increase from this point would take Shiba Inu to $0.0001423, leading to a new all-time high for the token.

Interestingly, market analyst Rafaela Rigo already predicted a Shiba Inu rally to this price territory. Last month, Rafaela called attention to a possible repetition of the 2021 pattern, suggesting that SHIB has the potential to reach $0.0001406. At a $0.000014 price, Shiba Inu’s market cap would sit at $83.5 billion, a feasible target.

Angel Investor Says Shiba Inu is Destined to Make It 

Abdulkarim Abdulwahab
-
0
Angel Investor Says Shiba Inu is Destined to Make It 

Crypto King, a widely followed crypto analyst and angel investor, has expressed confidence that Shiba Inu will stand out among the numerous investible meme coins in the market.

The prominent investor voiced this sentiment in a recent post on X, countering a critical view that Shiba Inu would become extinct within the next five years. The critic argued that only two or three meme coins would remain in the top 50 rankings, predicting that SHIB would lose the majority of its value. Accordingly, this critic urged investors to divest from all meme coins.

In response, Crypto King opposed this perspective. He asserted that those doubting the longevity of meme coins like Shiba Inu likely lack a deep understanding of the market. He pointed out that the current bull market is attracting a surge of retail investors, many of whom first encounter meme coins like Shiba Inu on centralized exchanges. 

Shiba Inu is Destined to Make It

Significantly, Shiba Inu has secured listings on over 130 centralized exchanges, including nearly all major global trading platforms such as Binance and Coinbase. 

Crypto King emphasized that Shiba Inu’s widespread availability is a testament to its solidified market presence, which he believes gives it a competitive edge.

The analyst bolstered his stance by drawing an analogy between gold and a lesser-known, recently discovered shiny crystal. He posed a rhetorical question: if presented with the choice between gold and a crystal of lesser value, which would a rational person select? 

He deemed it that any individual with sound judgment would opt for gold. Crypto King stressed that the same principle applies to established meme coins like Shiba Inu.

“OG memes like SHIB are destined to succeed,” the angel investor proclaimed. He then challenged the skeptics, urging them to save his statement and revisit it in two years to see the outcome of his prediction.

Crypto King

In response, some members of the crypto community agreed with Crypto King’s view, concurring that Shiba Inu is here to stay.

More Reasons Why Shiba Inu is Here to Stay

Notably, support for Shiba Inu’s enduring presence in the crypto scene is bolstered by the fact that its development team has been actively working to evolve SHIB from a mere meme coin into a project with tangible utility within the tech sector. 

For example, Shiba Inu has developed its own blockchain, Shibarium. Now, major players like Apple and Netflix in the Content Delivery and Security Association (CDSA) are looking to utilize to tackle AI-driven content issues, such as deep fakes and plagiarism.

Additionally, Shiba Inu has forged a partnership with the Paris-based cryptographic company Zama. The aim is to advance enhanced privacy solutions for the broader cryptocurrency industry.

Here’s Shiba Inu Price if It Clinches a $92 Billion Market Cap

Sam Wisdom Raphael
-
0
Here’s Shiba Inu Price if It Clinches a $92 Billion Market Cap

Shiba Inu price will hit the $0.000159 threshold if SHIB is able to capture a $92 billion market cap, the peak valuation secured by Dogecoin (DOGE).

Media personality and Bitcoin investor Moataz “Eljaboom” Elsayed recently spotlighted this reality while discussing the rate of appreciation required for some prominent meme coins to capture Dogecoin’s all-time high market capitalization.

Dogecoin Dominance and Peak Market Cap

For context, Dogecoin, the original meme coin, crossed the $90 billion market cap in May 2021. This feat came on the back of an impressive price surge, which saw the meme coin clinch an all-time high price of $0.7316. Tesla CEO and X CTO Elon Musk was a pivotal figure on this journey, relentlessly declaring support for Dogecoin.

Now, at its current price of $0.148, DOGE is 79.8% below the all-time high. In addition, its market cap has dropped tremendously to $21.37 billion, per market data sourced by CoinGecko. Despite this collapse, Dogecoin has retained its position as the largest meme coin, as other tokens such as Shiba Inu have witnessed comparable declines.

Particularly, SHIB, the second-largest meme coin, is looking to overtake Dogecoin as the dominant meme coin. However, with Shiba Inu’s market cap currently sitting at $14.14 billion, it would need to capture an additional $7.23 billion in valuation to compete with DOGE. Such an increase in market cap would require a massive price surge.

Shiba Inu Price at $92B Market Cap

Nonetheless, Eljaboom’s assessment presents the prospect of a more substantial price surge. Notably, the Bitcoin proponent emphasized that Shiba Inu’s market cap would need to increase by approximately 600% for it to claim Dogecoin’s $92 billion peak valuation.

Assuming SHIB’s circulating supply remains stable at 589 trillion tokens, Shiba Inu price at the $92 billion market cap would reach $0.0001561. The $92 billion market cap would represent a 123% increase from Shiba Inu’s peak valuation of $41 billion, attained in October 2021. 

This height would mark a new all-time high value for Shiba Inu, as well as a new top market valuation. While the $0.0001561 might appear ambitious, crypto analyst Javon Marks previously predicted that Shiba Inu price could soar to the $0.00015 price level. 

Meanwhile, Eljaboom also confirmed that other tokens in the meme coin market would require a more substantial surge to reach the $92 billion valuation. For instance, Pepe, the frog-themed meme sensation, must spike 2,300% to reach this market cap. In addition, dogwifhat (WIF) and Floki would respectively need spikes to the tune of 3,500% and 5,000%. 

Further, Solana-based meme coins Bonk (BONK) and Book of Meme (BOME) would need to respectively surge by 6,000% and 12,100% to reach the $92 billion market cap. This assessment indicates that despite the rallies recorded by these newer meme coins, they are still a long way from threatening SHIB and DOGE. Also, Shiba Inu has a higher chances of displacing Dogecoin.

Forbes Brands XRP as Good-For-Nothing, Zombie Crypto

Abdulkarim Abdulwahab
-
0
Forbes Brands XRP as Good-For-Nothing, Zombie Crypto

Renowned international magazine Forbes recently published a critical report on XRP and Ripple Labs, describing both entities as good-for-nothing and zombie projects.

Notably, the analysis concerned crypto projects with billion-dollar valuations, especially as Bitcoin has ushered in a buoyant market once again. However, it placed XRP and Ripple at the forefront of its examination.

“Ripple Labs is Zombie”

Forbes went into Ripple’s history, highlighting its ambition to establish a revolutionary global financial benchmark that would facilitate swift and cost-effective money transfers for banks. This vision garnered interest from numerous financial entities keen on trialing Ripple’s innovative network.

Forbes claimed Ripple’s leadership engineered 100 billion XRP tokens and sold $1.4 billion worth to the public to finance their grand ambition.

In parallel, the report pointed out the popular expectation that Ripple will surpass SWIFT, which processes $5 trillion in interbank transfers daily.

Meanwhile, Forbes pundits asserted that more than a decade later, this expectation is far from reality. Moreover, they highlighted that after over a decade in existence, Ripple is still only running pilot crypto programs with central banks in places like Georgia and the Republic of Palau.

Accordingly, they denounced Ripple’s inability to fulfill its core objective, going so far as to brand Ripple Labs as a “crypto zombie.” 

XRP is “Good-For-Nothing”

The report also highlighted that despite these supposed shortcomings, XRP still boasts a market cap exceeding $36 billion, ranking it the sixth most valuable crypto. Moreover, it noted that XRP remains heavily traded, with around $2 billion in daily transactions, though it suggests that such activity is driven by speculation rather than utility.

Furthermore, Forbes contended that SWIFT remains robust and unchallenged by Ripple. It pointed out that Ripple itself is now challenged by more efficient methods for international payments using blockchain technology, such as stablecoins like USDT.

Meanwhile, Ripple and XRP are not the only projects Forbes described as “zombies” and “good for nothing.” It extended this characterization to numerous blockchain projects. 

Specifically, the publication identified at least 50 blockchain platforms that are currently valued at over $1 billion, among which at least 20 are deemed to be “functional zombies.” The list included Cardano (ADA), Bitcoin Cash (BCH), Litecoin (LTC), and Stellar (XLM), among others.

Crypto Community Reacts with Bullishness

Despite Forbes’s critical view, the crypto community exhibited a degree of immunity to such scathing opinions, as this is not the first—and likely not the last—critique from traditional media. Interestingly, some see the harsh criticism in a positive light, interpreting it as a bullish signal.

Reactions from community
Reactions from community

Others pointed out inconsistencies in Forbes’ analysis, noting that just a few weeks ago, the magazine listed tokens like XRP, Cardano, and even the meme coin Shiba Inu as worthy and recommended financial instruments.

Expert Says It’s Impossible to Overlook Shiba Inu 

Lele Jima
-
0
Expert Says It’s Impossible to Overlook Shiba Inu 

Top crypto enthusiast Asiwaju Lerry highlights the prominence of certain meme-based tokens, like Shiba Inu (SHIB), in the current crypto ecosystem. 

Lerry emphasized that it is impossible to overlook Shiba Inu and three other memecoins, such as Dogecoin (DOGE), Floki (FLOKI), and Bonk (BONK). The expert mentioned that Shiba Inu has surpassed a billion-dollar market capitalization alongside these three canine-themed tokens. 

Notably, Lerry’s statement serves as a call for investors to pay attention to these memecoins due to their notable popularity and influence within the broader crypto market. 

Valuation of Top Canine-Themed Tokens 

It bears mentioning that the four memecoins mentioned in the tweet are referred to as canine-themed tokens due to their use of dog-related imagery in their branding. The memecoins in the list have surpassed a billion-dollar market cap. 

Dogecoin, which tops the memecoin ranking, currently boasts a valuation of $21.37 billion. Shiba Inu is the second-biggest memecoin, with a market cap of $14.06 billion. Floki and Bonk are ranked as the fifth and sixth largest memecoins, valued at $2.8 billion and $1.92 billion, respectively. 

These memecoins have continued to attract investors’ attention, with whales (large investors) shuffling huge amounts of these tokens. 

Whales Interest in Shiba Inu 

For instance, The Crypto Basic reported that large investors moved a whopping 4 trillion SHIB to exchanges in two weeks. Earlier this month, nine wallets collectively splashed $35.2 million to acquire 1.35 trillion SHIB tokens in 12 hours. Notably, two out of the nine wallets belong to crypto whales. 

Furthermore, popular crypto analytic platform Lookonchain also reported on June 5 that an Ethereum whale purchased 715.9 billion SHIB worth $18.44 million. 

These transactions highlight the growing interest in memecoins, especially Shiba Inu. 

Shiba Inu Quality Overcomes Thousands of Solana Memecoins 

Besides Lerry, other prominent crypto stakeholders have also called attention to Shiba Inu’s prowess.  As reported yesterday, popular Ethereum researcher Justin Drake shed light on Shiba Inu’s quality and dominance. According to Drake, Shiba Inu’s quality overcomes thousands of memecoins, especially those built on the Solana blockchain. 

The expert stated that market participants cannot compare the combined valuation of all Solana-based memecoins to that of Shiba Inu.

He noted that while the Solana-based memecoins have a combined valuation of around $10 billion, SHIB is valued at $15 billion. Drake made the statement before the market experienced a major downturn that wreaked havoc on crypto prices, including SHIB. 

Expert Sets XRP Peak of $250 This Cycle As Top Target

Sam Wisdom Raphael
-
0
Expert Sets XRP Peak of $250 This Cycle As Top Target

Industry pundit Chad Steingraber has set audacious cycle top targets for Bitcoin (BTC), Ethereum (ETH) and XRP, predicting XRP to hit a $250 price peak.

While XRP has failed to catch up with the gains of the broader crypto market, industry commentators remain confident of its potential to outperform in the long term. For context, BTC is up 64% this year, while ETH has gained 61%. In addition, Solana (SOL) has spiked 59.8%, with Binance Coin (BNB) up by a remarkable 119% since January.

XRP Underperformance 

Meanwhile, within the same timeframe, XRP is down 18%, making it one of the few mainstream assets suffering declines this year. Despite the shocking market performance, commentators such as Chad Steingraber, an independent game developer, expect XRP to catch up with the rest of the market as the bull run matures.

One of the driving forces behind this optimism is XRP’s remarkable performance in 2017. Notably, XRP recorded similar dull movements from 2016 to 2017, before that cycle’s bull run. During this period, XRP lagged behind the rest of the market, while others recorded spikes. However, as the bull run matured, XRP outperformed the market, soaring 48,823%. 

Bitcoin and Ethereum Projections

Steingraber’s recent projection suggests that this pattern might repeat. He presented three predictions for Bitcoin, Ethereum and XRP price peaks during the current market cycle. According to him, Bitcoin could soar to a peak price of $250,000. 

Several analysts and industry leaders have also predicted similar targets for Bitcoin. For instance, two years back, billionaire Tim Draper expressed confidence that BTC could hit $250,000. However, his timing was off, as he predicted this to occur between late 2022 and early 2023. Market analyst Raoul Pal also recently predicted a $250,000 price for BTC. 

In addition to Bitcoin, Steingraber projected Ethereum to hit a peak of $25,000 this cycle. This projection is merely 13% over the $22,000 Ethereum price prediction recently made by leading asset manager VanEck. However, Standard Chartered’s Geoffrey Kendrick presents less ambitious targets of $8,000 and $14,000 for ETH.

XRP Predicted to Hit $250

Meanwhile, in the same breath, Steingraber predicted XRP to clinch a top price of $250 this cycle, as BTC hits $250,000 and Ethereum reaches $25,000. According to the game developer, these projections align with each other in a synergic nature.

Responding to the prediction, Rob Cunningham, host of the KUWL show, highlighted the necessary percentage spikes needed for these predictions to materialize. Notably, to reach $250,000, BTC must rise by 3.5x, while ETH would need a higher 6.3x increase to hit $25,000. 

However, at XRP’s current value around the $0.50 price territory, Cunningham pointed out that the altcoin must rally by a massive 500x or 50,000% for the $250 value to become a reality. This confirms that XRP needs a much more substantial surge to clinch its target, making it the least likely to occur. Nonetheless, the market can be unpredictable.

Is Ripple Abandoning XRP? David Schwartz Weighs In

Lele Jima
-
0
Is Ripple Abandoning XRP? David Schwartz Weighs In

Ripple’s Chief Technology Officer (CTO), David Schwartz, addresses a persistent misconception within the crypto community regarding the company’s potential move away from its affiliated token, XRP. 

This speculation has been making rounds in the XRP community in recent times. However, the rumor about Ripple abandoning XRP gained steam after an X user, Aspen Signals, called attention to a quote on Schwartz’s cover photo on the social media platform. 

The quote sheds light on a scrappy financial startup’s struggle against betrayal and corruption as they endeavor to roll out instant payments to the public. Since the move to challenge the status quo comes at a high cost, the startup was forced to choose between its vision and survival. 

Expectedly, the quote elicited reactions within the crypto community, with some members speculating that Ripple could be planning to abandon XRP.  

Ripple CTO Reacts 

Interestingly, Schwartz stepped in to address the misconception before it became a major FUD (Fear, Uncertainty, and Doubt). Reacting, Schwartz clarified that the quote did not describe a real-world event but rather served as a pitch for a fictional movie. 

Although the themes in the quote may resonate with real-world issues, such as corruption faced by startups in the payment sector, the Ripple CTO emphasized that the specific circumstances depicted in the controversial quote have not taken place in reality. 

This statement suggests no basis for comparing the hypothetical scenarios in the quote and Ripple’s current operations. Nonetheless, given Ripple’s commitment to launch a stablecoin later this year, Schwartz’s decision to address the growing misconception is imperative. 

Ripple Declares Support for XRP 

The rumors about Ripple potentially abandoning XRP have gained traction since the company introduced its stablecoin initiative. First, critics argued that Ripple intends to replace XRP with the upcoming stablecoin, particularly for cross-border settlements via ODL (now Ripple Payments). 

Additionally, they suggested that Ripple’s decision to exclude XRP from its Liquidity Hub solution indicates that the company could be moving away from the token. 

Responding to these speculations, Ripple CEO Brad Garlinghouse asserted that the company remains fully committed to XRP and does not plan to abandon it. 

Bitcoin Pundit Projects XRP to $10 as Ripple CEO Suggests 2025 for XRP ETF Launch

Abdulkarim Abdulwahab
-
0
Bitcoin Pundit Projects XRP to $10 as Ripple CEO Suggests 2025 for XRP ETF Launch

TheWignus, a Bitcoin investor with over 2.4 million followers of X, has asserted that XRP is headed for the $10 target.

This optimistic outlook is based on the anticipated launch of an XRP exchange-traded fund (ETF). In a recent post on X, TheWignus claimed XRP is primed for a $10 price point. The basis of his forecast is Ripple CEO Brad Garlinghouse’s anticipation of an XRP spot ETF in 2025. 

XRP to $10 as ETF to Launch by 2025

Garlinghouse discussed the expected timeline for the XRP ETF during a conversation with FOX Business. He stressed the importance of having a variety of crypto spot ETFs beyond just Bitcoin and Ethereum to offer more options for investment diversification. 

When asked when the market could expect an XRP ETF, Garlinghouse expressed an optimistic outlook, suggesting a 2025 launch.

The Ripple CEO’s positive statements have stirred considerable excitement within the community. TheWignus is among those who have set a high price target for XRP as a consequence of ETFs investing in it. 

Notably, this sentiment is confirmed by Bitcoin’s performance, which saw its 2021 all-time high surpassed just two months following the introduction of Bitcoin spot ETFs in the U.S. market.

$10 XRP Demands Formidable 1,904% Surge

Notably, XRP is currently trading at $0.499, having declined by 4.27% over the past day. To reach the $10 target from the current value, it would need to surge by 1,904%.

Other market observers have also argued that XRP could hit $10 during this bull run, although most did not base their confidence on an XRP ETF. 

As previously reported by The Crypto Basic, Bitcoin day trader Emily recently asserted that a $10 price for XRP is inevitable, especially if Bitcoin hits $100,000. She and four other analysts, citing historical chart patterns, conveyed optimism that a significant rise for XRP is imminent.

Similarly, Web3Alert founder Nick previously argued that XRP reaching the $10 target is not a far-fetched outlook. According to him, the resulting market cap of $550 billion to $1 trillion is not out of the ordinary, especially considering Bitcoin and Ethereum’s market caps.

Despite the optimism, many continue to dismiss these bullish sentiments as fanciful due to XRP’s underperformance in this bull market. Notably, XRP continues to trade below $1.

Historic Patterns Suggest Dogecoin Could Reach $17, Analyst Forecasts 21,744% Rise

Abdulkarim Abdulwahab
-
0

While Dogecoin underperforms, a prominent analyst asserts that the meme coin’s current price action echoes historical patterns that suggest an explosive 21,744% rally to $17.

Over the past day, Dogecoin (DOGE) has been under bearish pressure, hitting a 24-hour low of $0.1587 at press time. Its seven-day performance also depicts a lackluster trajectory with predominantly bearish candles.

On a 30-day scale, Dogecoin has gained by a modest 1.2% despite Bitcoin’s recent bullish rally, which saw it re-enter the $71K threshold. Initially, DOGE mirrored Bitcoin’s positive momentum but quickly erased those gains.

While Dogecoin struggles to impress, analyst Javon Marks remains confident that more than a 40X gain is possible. Marks arrived at this conclusion after analyzing Dogecoin’s market sentiment over the last two cycles and comparing it to current trends.

Dogecoin’s Past Trend Compared to Now

The accompanying chart showed that during the 2016/2017 cycle, Dogecoin experienced a staggering 7,106% surge, climbing from $0.000206 to an all-time high in 2018.

Before this monumental rise, Dogecoin went through 659 days of price consolidation, marked by only a few significant price increases. Eventually, it broke out and soared to $0.01485, representing a 71-fold increase in value.

Subsequently, Dogecoin entered another extended period of bearish trends, which lasted for 527 days of consolidation until a turnaround in late 2020.

Following this second consolidation phase, Dogecoin’s value skyrocketed by an incredible 22,813%, nearly reaching the $1 mark in 2021. Elon Musk’s public support for the meme-inspired crypto significantly propelled this remarkable performance during that time.

Despite Musk’s continued backing, Dogecoin’s price witnessed severe dips alongside the broader crypto market. Notably, the analyst noted a recurring symmetry in Dogecoin’s price patterns before the consolidation phases. The pattern exhibited consistency for 2016, 2020, and now, 2024. 

DOGE Set to Soar 21,744%

According to Marks’ chart, Dogecoin has already consolidated at low prices for 469 days. He suggests this trend indicates a potential for Dogecoin to achieve new all-time highs soon.

Specifically, Marks observed that a breakout trend for Dogecoin is already forming, projecting that a value exceeding $10 could be on the horizon. This target implies a 6,201% growth or a 62X gain for investors.

Meanwhile, the analyst also has his sights set on a higher target. One of his most ambitious projections for Dogecoin is $17. The analyst’s chart proposed a 21,744% rally to drive DOGE to $17 by 2025. At this price, Dogecoin’s market cap would exceed $2.54 trillion.

Shiba Inu Warns About Fake Telegram Accounts Impersonating Devs

Zabi
-
0
Shiba Inu Warns About Fake Telegram Accounts Impersonating Devs

Shibarmy Scam Alerts, the official Shiba Inu ecosystem scam awareness channel, has warned the community of scammers creating fake Telegram accounts and fraudulent tokens claiming association with Shiba Inu.

Shibarmy Scam Alerts, an account dedicated to identifying and exposing scams, has issued a warning to the Shiba Inu community. This alert opens on an alarming trend where scammers are creating fake Telegram accounts to impersonate official Shiba Ecosystem accounts. On the post, the community is urged to remain vigilant to avoid falling victim to these fraudulent schemes.

Impersonation of Official Accounts on Telegram

Scammers are creating Telegram accounts that closely mimic legitimate Shiba Inu ecosystem profiles. Specifically, they are impersonating the accounts associated with Shibariumnet and Treatsforshib on X. While these handles are genuinely managed by Shiba Inu developers, the Telegram groups with similar names are fraudulent.

Screenshots by Shibarmy Scam Alerts reveal two such groups: “treatsforShib” with 92 members and 21 online at the time of the alert, and “Shibarium Network (chat)” with 320 members and 38 online at the same time.

These groups contain pinned messages and content related to Shiba Inu cryptocurrency activities, making them appear credible to mislead many unsuspecting users.

It is also crucial to recall that the report came a day after Shibarmy Scam Alerts cautioned Shiba Inu community members about fake SHIB airdrops, emphasizing no official SHIB airdrops are currently available. They warn users against connecting wallets to fraudulent websites in an attempt to claim these airdrops.

Developer’s Alert on Fraudulent Token Launches

The situation has escalated to the point where Shiba Inu’s lead developer, DaVinci, recently issued another stark warning to the community.

DaVinci pointed out that scammers are launching tokens under false claims of involvement with Shiba Inu developers and the future of Shibarium. These deceitful individuals have transitioned from misusing Ryoshi Research mediums to exploiting Shiba State and Canine code. 

Alarmingly, they also post the shib.io address in their promotional materials to lend false legitimacy to their operations. DaVinci cautioned that the Treat token has not yet been launched, and any tokens claiming association with it are fraudulent.

He urged the community to conduct thorough research before engaging with any new tokens, as Shibaswap’s decentralized nature limits the ability to ban these deceptive tokens.

Meanwhile, as of the latest data, Shiba Inu (SHIB) is priced at $0.00002509 with a 24-hour trading volume of $424,633,454.08. This represents a 2.67% decline in the last 24 hours and a 3.41% decline over the past week. 

1...1,4171,4181,419...2,667Page 1,418 of 2,667