A Shiba Inu team member has issued a significant warning to the Shiba Inu community and the broader cryptocurrency community.
Lucie, the official marketing expert of the Shiba Inu developer team, used the social media platform X (formerly known as Twitter) to issue a crucial warning to both seasoned veterans and newcomers in the cryptocurrency space.
Cautionary Tales: Crypto Scam Warnings from Lucie and Ledger
Lucie, the official marketing expert of the Shiba Inu developer team, recently used social media to alert both seasoned traders and newcomers in the cryptocurrency space about the growing threat of scams and fraud. She stressed the importance of remaining vigilant and thoroughly reviewing all transactions and interactions within the crypto industry. Lucie’s message emphasized, “Be careful and not naive in the crypto space—always exercise caution and due diligence.”
Caution by official marketing expert of the Shiba Inu developer team. Source: X
In a related development this week, Ledger, a leading producer of cryptocurrency hardware wallets, issued a stark warning to the crypto community regarding a new scam technique called “address poisoning.” This deceptive method specifically targets users of TRX, MATIC, and ETH wallets. Address poisoning involves fraudsters sending small amounts of coins or non-fungible tokens (NFTs) to a user’s wallet, with the intention of manipulating transaction records to mislead the user into sending funds to a specified wallet controlled by the scammer.
Ledger explained that users should never interact with unexpected coins or NFTs that appear in their wallets unexpectedly. Instead, these items should be hidden from view to prevent accidental engagement. The Ledger team emphasized the critical importance of verifying wallet addresses before executing any transactions, urging users to avoid blindly copying and pasting addresses to mitigate the risk of falling victim to such scams.
Shiba Inu’s Recent Price Movements and Short-Term Potential
Over the past week, Shiba Inu (SHIB), the second most popular meme cryptocurrency, has experienced a significant decline of more than 14%, dropping from the $0.00002 level.
Following a 7% decrease between Thursday and Friday, SHIB saw a minor recovery, gaining 3.23%. As of the time of writing, the cryptocurrency is trading at $0.00001803.
Despite recent declines, a Santiment report suggests that SHIB may be poised for a potential surge in the short term. The report highlights a 30-day MVRV index of -19.1% for SHIB, indicating that the cryptocurrency is currently undervalued relative to its recent price movements. This metric suggests a possibility of future price appreciation for SHIB.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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