Shiba Inu (SHIB) Faces Continued Decline, Warning Issued to Community
Currently, SHIB is down by 8.7% in the last 7 days, trading at $0.00001255 according to CoinMarketCap.
SHIB Experiences Steep Sell-Off
The SHIB price has been on a downward trajectory since last week, with broader macro-economic concerns and inflation data released on Friday contributing to the sell-off across the market. As stock markets struggle with these developments, top cryptos like SHIB have fallen to their lowest levels in at least a week.
The SHIB price drop follows a period of profit-taking after the cryptocurrency rallied for five consecutive days between March 22 and March 26. As a result, SHIB has erased its weekly gains.
Warning Issued for Shiba Inu Community
In addition to the market downturn, a crucial warning has been issued to the Shiba Inu community about a phishing scam targeting crypto users. The scam involves fake messages, often disguised as communications from platforms like Binance, claiming suspicious activity such as a new device being registered. The message prompts users to call a number to secure their accounts, but this is a scam designed to steal personal data and cryptocurrency.
A Shiba Inu-focused X account called Susbarium alerted the community about these phishing attempts and urged users not to engage with suspicious messages or calls. They recommended deleting such messages and reporting scams to local fraud authorities while reminding users to only connect with official channels to stay secure.
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Text source: Coindoo
