Shytoshi Kusama, the chief developer of Shiba Inu, made a big impact in the cryptocurrency market with his recent warnings. Kusama warned against people claiming to have billion-dollar SHIB wallets. Investors are cautioned to verify before relying on such claims.
Shiba Coin FUD
In her official social media post, Kusama said, “Accounts claiming to have billion-dollar SHIB wallets caught my attention. “I recommend that you question and verify the situation before blindly believing such distorted claims,” he said. This statement curbed anxiety among investors globally.
To end FUD, Shytoshi Kusama proposed a simple method for verifying fraudulent claims. To verify such large holder claims, Kusama asked users to contact the wallet owner they suspect and follow certain steps. The relevant person was contacted and requested to transfer the amount of SHIB specified in the wallet to another wallet. This is also a detail to be aware of for all altcoins regarding fake whale traps.
This warning made by Kusama aims to prevent losses that may arise from posts that may cause fluctuations in the price by portraying herself as a big holder. People with malicious intentions can very convincingly claim that wallets worth hundreds of millions of dollars belong to them, using videos and pictures. This opens the door for them to cause price fluctuations through speculative shares and make a profit from this.
Increase in SHIB Price
Shiba Inu has risen in line with the general market trend. The SHIB price increased by 5 percent to $0.00001829 at the time of writing. This increase, together with Shytoshi Kusama’s statements, created a positive atmosphere in the Shiba Coin ecosystem.
According to Coinglass data, open interest (OI) in SHIB futures rose 7% to $50.33 million. Derivatives volume increased by 40%, reaching 132.78 million dollars. This data shows that investors’ interest in SHIB is increasing.
As a result, these developments in the SHIB ecosystem provide important data to better understand the underlying market dynamics. Investors can determine their strategies by evaluating potential risks and opportunities. At the same time, investors need to be aware that malicious people on social media can resort to all kinds of tricks.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
