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Shytoshi Kusama Spotlights Shiba Inu’s TREAT Token Blunder – Crypto News

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1 year ago

July 22, 2024

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Shiba Inu’s lead developer Shytoshi Kusama recently took to X, highlighting an exchange’s blunder related to TREAT, a Shiba Inu ecosystem token. In a post shared by the lead dev on July 21, it was brought to attention that Crypto.com conveyed incorrect information about the token to users.

This post has promptly gained significant traction across the broader crypto space, clearing the muddied waters around the TREAT token and offering users a safe trading environment.

Shytoshi Kusama Unhappy With Crypto.com’s Blunder

In his post, the dev wrote, “Sadly Crypto.com wrote about our TREAT token that is not yet launched, assuming incorrectly that it was.” This statement is in regard to a previous article on the crypto platform that offered users an incorrect link to a Treat site.

The link, as clarified, was not related to the Shiba Inu ecosystem. In turn, Kusama’s post highlighted that the SHIB community had already made efforts to rectify the issue by contacting the exchange.

Also, Shytoshi Kusama’s post added, “Proceed with caution with this other Treat token (and many other spoofs that will inevitably be created to scam you).” It’s worth noting that TREAT is the utility and governance token for Shiba Inu’s new privacy-focused Layer 3 blockchain. Also, SHIB is one of the highest-ranking meme coins by market cap.

Also Read: Ripple CTO Bets on Joe Biden’s Replacement for Pro-Crypto Policy

SHIB Market Performance

Meanwhile, SHIB price, rested at $0.00001779, showing signs of a consolidation. The coin’s 24-hour lows and highs are $0.00001714 and $0.0000184, respectively.

A recent SHIB price analysis by CoinGape shows that the token is eyeing a $0.00002 price target amid massive whale accumulations. Besides, the RSI hovered along 49, hinting that the dog-themed meme token awaits a potential takeover by market bulls or bears.

The derivatives market data further birthed investor speculations with SHIB’s uncertain market stance. The futures OI tanked 6.98% to $45.87 million, whereas the volume rose 6.42% to $218.02 million.

Also Read: WazirX News: Exchange Suspends Trading To Formulate Withdrawal Plan

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