Shiba Inu Discord Erupts with Accusations of Manipulation and Cover-Up

Shiba Inu Discord Erupts with Accusations of Manipulation and Cover-Up

Time Stamp: March 16, 2023 6:38 AM
Source Node: 2014038

SNEAK PEEK

  • The official Discord channel for SHIB has erupted with controversy over the Shibarium chain being a ripped-off version of Rinia’s.
  • The situation has led to accusations of manipulation and censorship, causing investors to scramble for answers.
  • The SHIB token is trading in a negative mood, with a 7.52% price decrease in the previous 24 hours.

In a stunning turn of events, the official Discord channel for the popular cryptocurrency Shiba Inu (SHIB) has exploded with controversy over the revelation that its Shibarium chain is actually a ripped-off version of Rinia’s, with the critical mistake of failing to change the chain ID.

The community has been left in shock as a moderator came forward with allegations of manipulation and censorship, sparking a heated debate and calls for transparency. With millions of dollars in investment on the line, the situation has left many investors scrambling for answers and wondering what the future holds for SHIB.

Recently, the Shiba Inu ecosystem launched a layer-2 blockchain called Shibarium, which is designed to enhance the functionality of the network. The developers behind Shibarium have stated that their primary objective is not to inflate the price of SHIB, which is the native token of the Shiba Inu network, but rather to provide a better user experience for its users. 

Shibarium is expected to offer several benefits to the Shiba Inu community, including faster transaction times and lower fees. These improvements are made possible by moving some of the network’s functions to the Layer-2 blockchain, which runs on top of the Shiba Inu mainnet. By offloading some of the workload to Shibarium, the Shiba Inu network can become more efficient and provide a more seamless user experience.

As of the time of writing, the SHIB token was trading in a negative mood, with a price decrease of 7.52%, trading at $0.00001047 in the previous 24 hours. Shiba Inu has established a support level at $0.00001024 and a resistance level at $0.00001135 with a trading volume of $394,476,756, representing a 22.26% decrease in range.

Time Stamp:

More from Investor Bites