• Shiba Inu market faces weak momentum and increasing sell-side pressure.

  • SHIFU airdrop distributes 30% of the supply; beware of fraudulent schemes.

Shibarium Trustwatch has recently issued another alert to the Shiba Inu community, warning about ongoing scams targeting SHIFU, a memecoin related to Shiba Inu.

According to the team, fraudsters are asking victims to send emails requesting guidance on how to buy or claim SHIFU or reporting that the token hasn’t appeared in their wallets. Shibarium Trustwatch has advised community members to avoid sending emails and to verify information through official channels. Users are also encouraged not to share personal information with unverified sources.

SHIFU, a dog-themed meme coin introduced by lead developer Shytoshi Kusama in early December, is available on select decentralized exchanges but has not yet been listed on major platforms like Binance. Recently, SHIFU’s project team announced a significant airdrop, allocating 30% of the token’s total supply—30 billion SHIFU—to the community. Among these, 22 billion tokens are designated for SHIB and BUBBLE holders, 2 billion for LEASH holders, and 1 billion for BONE owners. The remaining supply will be used for liquidity, pre-sales, treasury, and marketing.

Moreover, this warning follows a series of similar alerts targeting Shiba Inu’s large and active community. Last month, Shibarium Trustwatch warned against fraudulent schemes involving SHI and TREAT tokens, which are not yet live. Scammers have also impersonated Shytoshi Kusama to promote fake tokens.

“Always verify the authenticity of any group or token before participating,” the team advised.

SHIB Market Update

Shiba Inu [SHIB] was trading at $0.0000268 at press time, down 1.9% in the past 24 hours. But still up 10% over the past month. Despite forming a bullish pattern on the one-day chart, low trading volumes and weak momentum indicators. It is such that the Money Flow Index (MFI) at 43, suggests consolidation. A recent surge in exchange inflows—1.78 trillion SHIB tokens moved in two days—raises concerns of potential sell pressure.

The $0.000024–$0.000025 range serves as strong support, while resistance looms at $0.000030–$0.000031. With a bearish Long/Short Ratio of 0.96, market sentiment remains cautious.

Highlighted News Of The Day

Binance’s SOL Liquid Staking Token BNSOL Hits $1 Billion TVL in Just Three Months