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Dog-themed cryptocurrency Shiba Inu has grown in popularity over the years. Yet, with great popularity comes great risk, particularly from the shadowy corners of deceit and manipulation. It has come to light that the SHIB community must tread carefully amid a surge of paid promotions, as not all that glitters in the crypto universe is gold — or in this case, SHIB.
Scammers have been quick to capitalize on SHIB's meteoric rise, crafting elaborate schemes hidden within paid promotions. These nefarious actors create illusions of legitimacy by claiming affiliation with SHIB, preying on the uninformed and the overeager.
In this light, "Shibarmy Scam Alerts," an X handle dedicated to uncovering scams and protecting the Shiba Inu community, has issued a critical alert, urging Shiba Inu community members to beware of scams in paid promotions.
Shiba Inu holders are urged to exercise caution and due diligence as scammers are using paid promotions in articles, especially on platforms like Yahoo, posing as legitimate investments. Many of these projects falsely claim to be related to the Shiba Inu ecosystem.
Thus, the Shiba Inu community is advised to verify the authenticity of any promotion before engagement, especially those that require financial commitment. They should always verify information through the official SHIB website before taking action. If an offer seems too good to be true, it probably is.
Shiba Inu set to gain 139% in March
According to CoinGecko data, Shiba Inu (SHIB) is poised to conclude the month of March with a staggering 139% increase in value, marking remarkable price growth for the token and signaling renewed investor interest.
At the beginning of March, SHIB was trading at roughly $0.0000125, according to TradingView data. As the month progressed, the token witnessed a dramatic surge in value, reaching highs of $0.000045 on March 5. This impressive rally represents a more than 300% increase in price within a relatively short span. Shiba Inu subsequently rose in crypto rankings and sits presently in the 11th spot with a market capitalization of $18.05 billion.
Although the price has retreated, SHIB is still trading higher than its opening price of $0.000001257 in March. At the time of writing, SHIB was up 2.04% in the last 24 hours to $0.0000306 and up 8.96% in the last seven days.
As March draws to a close, the SHIB community celebrates its impressive gains and looks forward to the next chapter in the token's journey.
Arman Shirinyan
Alex Dovbnya
