Shiba Inu Cautions Community on When SHIB Can Be a Red Flag

Shiba Inu ecosystem team member DaVinci issues a new warning to its community, revealing how SHIB can become a major red flag. 

In an X post yesterday, DaVinci, a pseudonymous Shibarium Discord admin, warned that scammers could use the name ‘SHIB’ to perpetrate malicious activities. He clarified that just because a token has SHIB in its name does not mean the project is safe. 

Using SHIB to Promote Random Sh*tcoin Is a Red Flag 

DaVinci suggested that it is a big red flag when a team uses SHIB to promote and sell random and unknown sh*tcoins. Furthermore, the Shibarium Discord admin revealed that a group of scammers has been leveraging this tactic to sell new sh*tcoins monthly. 

He stated that these coins are almost worthless, eventually losing 80-90% of their value. Nonetheless, DaVinci said the scammers are not relenting as they prepare to introduce the next sh*tcoin, leading to recurring losses for unsuspecting investors.  

Notably, the Shiba Inu ecosystem team member advised the Shiba Inu community members to avoid waiting until the fourth ‘rug pull’ before figuring out the pattern.

Shiba Inu Team Continuous Warning 

DaVinci’s message marks the latest warning the Shiba Inu ecosystem team has issued to the community over the past week.

Last week, Shiba Inu’s lead developer, Shytoshi Kusama, and the project’s marketing lead, Lucie, issued a new warning about TREAT. They warned that the token has not been launched, indicating that any token mimicking it is fake. 

Also, Kusama revealed how scammers have been using his engagement with the community to promote and sell illicit tokens. Specifically, these malicious actors purchase X accounts Kusama follows and then use them to promote fake tokens. 

Furthermore, Shiba Inu’s community-driven channel Susbarium issued an important warning after the team behind a new cat-themed memecoin, Shiro Neko (SHIRO), burned $100,000 worth of SHIB. The move is part of Shiro Neko’s marketing strategy to get the attention of SHIBArmy. 

Unmoved by the hefty SHIB burn, Susbarium cautioned the community to first conduct due diligence on the project before investing. Furthermore, the channel shared some safety tips, like understanding SHIRO’s tokenomics and promotional strategy, to help investors evaluate and decide whether the token is safe. 

As scammers continue to target the Shiba Inu community, it is imperative to always conduct due diligence on any new project and stick to official channels to get relevant information regarding new developments within the ecosystem.