- Shiba Inu’s lead developer, Shytoshi Kusama, has taken to social media to address a critical error by Crypto.com concerning the TREAT token.
- The post emphasizes that the TREAT token has not yet been released to the public, contradicting Crypto.com’s earlier statements.
- This development has stirred the crypto community, clarifying the status of the TREAT token and ensuring safer trading practices.
Shytoshi Kusama clarifies a major miscommunication regarding the launch status of the TREAT token, shedding light on responsible trading in the Shiba Inu ecosystem.
Shytoshi Kusama Addresses Crypto.com’s TREAT Token Misstep
In a recent post on X, Shiba Inu’s lead developer Shytoshi Kusama addressed a significant error made by Crypto.com about the TREAT token, a key token within the Shiba Inu ecosystem. Kusama clarified that the TREAT token has not been launched, directly contradicting previous information disseminated by Crypto.com. This clarification became a trending topic in the crypto community, aiming to clear any misunderstandings and highlighted the importance of verifying information from trusted sources.
Community Reaction and Corrective Measures
Following Kusama’s announcement, the Shiba Inu community promptly mobilized to correct the misinformation. The lead dev’s post warned users to be cautious of potentially illegitimate tokens, urging the community to verify authenticity before making any transactions. “Proceed with caution with this other Treat token (and many other spoofs that will inevitably be created to scam you),” Kusama noted. This statement underscores the proactive stance of the Shiba Inu developers in fostering a secure trading environment.
Current Market Performance of SHIB
Amidst this backdrop, SHIB’s market performance has shown a consolidation phase, with its price resting at around $0.00001779. The 24-hour trading range sees lows of $0.00001714 and highs of $0.0000184, reflecting a stable yet watchful market sentiment. According to CoinOtag, SHIB is targeting a price of $0.00002, buoyed by significant whale accumulations. The Relative Strength Index (RSI) remains around 49, suggesting an impending shift driven by either bullish or bearish movements.
Derivatives Market Outlook
The derivatives market for SHIB showcases mixed signals with ongoing investor speculation. Open Interest (OI) in futures contracts dropped by 6.98% to $45.87 million, while trading volume increased by 6.42% to $218.02 million. These metrics indicate a cautious yet active trading environment, with market participants closely monitoring SHIB’s performance for any significant developments.
Conclusion
The recent events revolving around the TREAT token and the clarifications by Shytoshi Kusama have reinforced the necessity for accuracy and vigilance in the cryptocurrency domain. Such diligence ensures the integrity of trading environments and protects investors from potential scams. As SHIB continues to exhibit stable market behavior, the community remains hopeful for future growth, given the active engagement of its developers and stakeholders.
