In a recent social media post, Shytoshi Kusama, the lead developer for Shiba Inu, drew attention to an error made by cryptocurrency exchange Crypto.com regarding the upcoming TREAT token. The Shiba Inu ecosystem has been abuzz with the upcoming launch of TREAT, a utility and governance token designed for their new privacy-focused blockchain. However, Crypto.com mistakenly included information about TREAT in a recent article, leading to confusion among users.
Kusama’s post clarified that Crypto.com’s information was inaccurate, stating, “Sadly, Crypto.com wrote about our TREAT token that is not yet launched, assuming incorrectly that it was.” The article reportedly included an incorrect link to a TREAT site not associated with the Shiba Inu project. This error could have potentially misled users into interacting with a fraudulent token, highlighting the ever-present risk of scams in the cryptocurrency space.
The Shiba Inu community appears to have taken proactive measures to address the issue. Kusama’s post acknowledges that the community has already contacted Crypto.com to rectify the mistake. The importance of user vigilance is further emphasized by Kusama’s warning: “Proceed with caution with this other Treat token (and many other spoofs that will inevitably be created to scam you).”
While the official launch of TREAT is awaited with anticipation, the price of SHIB, another prominent token within the Shiba Inu ecosystem, seems to be consolidating around $0.00001779. Recent analyses suggest SHIB might be eyeing a price target of $0.00002, fueled by whale accumulations. The token’s future trajectory, however, remains uncertain, with the Relative Strength Index (RSI) hovering near 49, indicating a potential tug-of-war between bulls and bears. Adding to the intrigue, data from the derivatives market shows a contrasting trend, with futures open interest (OI) dropping and trading volume rising.
This incident highlights the importance of accurate information dissemination within the cryptocurrency space. With the rise of meme coins like SHIB and the upcoming launch of TREAT, user awareness and responsible platform practices are crucial to preventing scams and ensuring a safe trading environment.