Shiba Inu (SHIB) Is Facing a Threat? Here’s What You Need to Know

Are you curious about the latest developments surrounding Shiba Inu (SHIB) cryptocurrency? Discover all the essential information you need to know right here! Stay informed about potential dangers and threats to Shiba Inu, safeguarding your investments and making informed decisions. Read on to explore the potential risks and take proactive measures to protect your investment in SHIB.

Shiba Inu’s Shibarium Faces Threat from Scammers Associated with Pawswap

Shiba Inu’s layer-two network, known as Shibarium, is currently facing a potential threat from scammers linked to the Pawswap project. This alarming information was recently revealed by a prominent Shiba Inu administrator named DaVinci, who is highly respected within the SHIB community. According to DaVinci, the scammers aim to impersonate the legitimate project PawZone while spreading false information to undermine Shibarium and its user base.

“This is the personal opinion of our @Shibariumtech admin DaVinci and #NFA. Remember, I’ve been sharing $Paw from @PawZoneOfficial with you since it launched. @PawzaarOfficial is one of the features and will be one of the first #NFT marketplaces on #Shibarium to rival @opensea.”

– Digarch Stan | Summer Of Shibarium (@Digarch) September 10, 2023

This scam alert has understandably caused concern within the dedicated Shibarium community, prompting a response from another influential member. While clarifying that DaVinci’s statement is a personal opinion and not financial advice, this member expressed solidarity with fellow SHIB enthusiasts and reiterated their support for PawZone (PAW). They also highlighted the upcoming Pawzaar feature, which is set to become a groundbreaking NFT marketplace on Shibarium, directly competing with well-known platforms like OpenSea.

As per the latest data from DefiLlama, Shibarium currently has approximately $801,000 worth of assets locked in the platform. While this represents a decline from its recent peak of $1.47 million in total value locked just one week ago, it is important to note that Shibarium is still gaining significant traction and attention within the crypto community.

Surge in Shiba Inu Transaction Volume

Despite the ongoing scam issue, Shibarium has witnessed an extraordinary surge in transaction volume over the past two days. Data from Shibariumscan reveals that transactions have more than doubled since the previous Thursday, skyrocketing from a high of 88,630 to a staggering 177,050 transactions in the last 24 hours alone. This surge has led to a total of 420,000 transactions processed through the blockchain during this period, marking a significant milestone for the Shiba Inu ecosystem.

The sudden increase in transaction activity showcases the growing adoption and utilization of Shibarium’s layer-two network, Shibarium. This network was introduced to enhance the efficiency and scalability of the Shiba Inu protocol, and its successful implementation is clearly reflected in the notable increase in transaction volume.

To get a comprehensive understanding of the latest developments, watch our latest video:


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