Shiba Inu Community Urged to Stay Vigilant Amid Growing Scam Risks

The Shiba Inu (SHIB) community has recently been alerted to an important notice concerning the security of its members.

As Shiba Inu continues to expand in popularity, the ShibArmy Scam Alerts account on X has warned the entire crypto community, urging heightened vigilance against scams, FUD (fear, uncertainty, and doubt), and misinformation. 

Protecting Communities from Scams, FUD, and Deception

In the fast-paced world of crypto, moderators on platforms like Telegram or Discord play a crucial role in keeping the community safe. Their strict approach to rules might seem intense, but it’s essential for protecting… pic.twitter.com/8zoThh9w9X

— Shibarmy Scam Alerts (@susbarium) September 14, 2024

The notice highlights the increasing risks that crypto holders face in the fast-paced world of digital assets, emphasizing the crucial role that community moderators play in maintaining a safe environment.

The alert focuses on the significant risks posed by scammers and copycat projects, which have become more prevalent in crypto. These bad actors often attempt to mimic legitimate projects, deceiving unsuspecting investors and leading to substantial financial losses. 

Role of Moderators in Safeguarding the Community

Telegram and Discord moderators are on the line defending the Shiba Inu community from such adversities. The are always on the lookout for any scams, fake projects and phishing that may harm the investors. 

In the notice from ShibArmy Scam Alerts, the moderators are highlighted as crucial in initiating and implementing strict measures against misinformation and FUD. Thus, they contribute to the Shiba Inu community’s safe and stable environment for every individual involved. 

Misinformation and FUD: Ongoing Challenges

Misinformation and FUD are significant challenges for the Shiba Inu community and the broader crypto world. False information can spread rapidly, creating panic and negatively impacting the market. 

ShibArmy Scam Alerts has highlighted that one of the most effective ways to combat these issues is by establishing clear guidelines and rules by moderators. These measures help prevent the spread of misinformation and protect the community from the damaging effects of FUD.

Current Shiba Inu Market Performance

By the time of this alert, the Shiba Inu coin was exchanged at $0. It is up by 11.35% in the 24 hours of trading, with the trading volume of $153,674,673 for symbol 000014. 

Notably, the cryptocurrency went through a 1.36% in the last 24 hours and sits at number 13 on the CoinMarketCap marketplace. Shiba Inu currently has a market capitalization of $8,071,684,221 with a circulating supply of 589,269,549,448,188 SHIB.

On September 14th, the price of Shiba Inu showed a brief period of upward momentum, starting at approximately $0.00001352 and peaking near $0.0000141 early in the morning. 

Source: CoinMarketCap

However, this was followed by a gradual decline throughout the day, with the price reaching a low of around $0.0000136 before slightly recovering to $0.0000137 by the end of the day.