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SHIB Army Beware: Major Warning for All Shiba Inu Investors and Users

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TL;DR

  • Given its substantial popularity in the meme coin space, Shiba Inu and its investors have been targeted in another possibly painful scam.
  • One X profile dedicated to warning SHIB investors and observers about potential threats has made a major clarification that one of the tokens within the ecosystem is not available on Solana.

The token in question is LEASH, which is the second in the Shiba Inu ecosystem, designed originally to be a rebase coin tied to the price of Dogecoin. This function was turned off later on, and now it continues to be used as a simple ERC-20 token.

LEASH now has a market cap of just over $9 million and is the 1864th largest on CoinGecko. Its price has tumbled by over 17% in the past day alone to $85.

There have been circulating posts online claiming that LEASH has also moved to the Solana network, which is not true, according to the warning by Susbarium. The X user prompted investors to verify all such claims using Shiba Inu’s official token portal, which shows that LEASH continues to be deployed only on Ethereum.

Shiba Inu, its investors, and all the tokens within its ecosystem (SHIB, TREAT, BONE, and LEASH) are frequently targeted through similar fraud attempts due to their popularity.

SHIB is by far the biggest and most well-known among the rest. It’s the second-biggest meme coin by market cap, despite its 11% retracement in the past month.

Amats SHIB Army Beware: Major Warning for All Shiba Inu Investors and Users appeared first on CryptoPotato.

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