Shiba inu coin urgent warning 99% of shib token holders will be liquidated if they don’t know this. - The Comprehensive Minds

SHIBA INU COIN URGENT WARNING 99% OF SHIB TOKEN HOLDERS WILL BE LIQUIDATED IF THEY DON’T KNOW THIS! 

SHIBA INU COIN URGENT WARNING

The Shiba Inu cryptocurrency token has been standing pat for a few weeks now. But will it recover and return to its all-time high? The Shib token has faced a decline recently because the social media hype has died down. 

There’s some speculation that the Shib token will rebound, but it’s hard to predict social media hype. In total, the Shiba Inu coin token lost 83% of its value since its all-time high in May, according to CoinMarketCap.com. Will the price of SHIB recover? Today we are going to talk about all this. 

CoinMarketCap

Before we get to our topic, let’s take a look at the chart and see what the price of SHIBA is doing on the 10th of August, shall we? Shiba Inu price paralyzation from July 22 to August 6 generated a lot of doubt and relative uncertainty. Still, SHIB broke the silence with a 23.30% gain on August 7, claiming the 50-day SMA for the first time since July 7. 

The development is more than a technical event and has positioned the cryptocurrency for a potentially better outcome if it can reconcile the resistance formed by the upper line of the descending parallel channel. Shiba Inu price adds an exclamation point after patience Shiba Inu price closed last week with a gain of 15.53%, marking the best weekly return since the beginning of May and removing SHIB from the threat of a new correction low that had dominated since July 22. 

A big result of the Shiba Inu price action from July 22 to August 6 was the compression of the Bollinger Bands to a very tight range that often precedes a significant move, and that was the case this time. The close above the 50-day SMA on August 7 triggered the buy signal for Shiba Inu's price and the bullish narrative. 

It has opened up new possibilities for SHIB, including the breakout from the upper line of the descending parallel channel, now at $0.00000794, a test of the June 29 high of $0.00000962, and a march to the May 24 and May 20 highs at $0.00001214 and $0.00001204, respectively. A Shiba Inu price rally to $0.00001214 would reward SHIB investors with a 56.00% gain from August 7 close above the 50-day SMA. 

Now let’s get back to the topic. $SHIB also enjoyed a bullish moment in May 2021, rising over 1500% in one week after its listing on several crypto exchanges, including Binance and CoinCDX, an Indian exchange. This followed prior listings on MCX, CoinGecko, and Uniswap. 

Its founders announced that $SHIB had grown to over 310,000 holders. In an online survey, Shiba coin beat out Doge and Safemoon as the coin of choice. $SHIB also benefited from shilling by its Shiba Army, which has subsequently spawned a large number of popular SHIB-specific Twitter handles. 

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It gained celebrity endorsements from bodybuilder Kai Greene, Miami Dolphins wide receiver Preston Williams, and Cleveland Browns wide receiver Rashard Higgins. Shiba Inu may also have benefited after Elon Musk made a tongue-in-cheek remark about rival Dogecoin being a “hustle” in an interview, which drove down Dogecoin’s value and made alternatives like SHIB more attractive. 

Although the underlying value of the $SHIB remains low, the aforementioned developments suggest that the $SHIB is, as its founders have said, more so a social experiment in community building and understanding online memetic behavior of a growing class of high-risk traders rather than being a financial investment alone. 

While it remains a long way away from overtaking Dogecoin in terms of its market cap, it represents a successful model of a low-utility meme coin that has generated and sustained widespread interest and engagement. Risks associated with Shiba Inu Perhaps the largest risk with cryptocurrencies like $SHIB and $LEASH is the potential for its creators to scam the community or be shut down due to run-ins with government regulation. 

In order to evaluate these risks, one needs to understand ownership and control within the Shiba Inu ecosystem, even if it is generally touted as a decentralized token. There exists some evidence that suggests that the individuals who created Shiba Inu may have ties to Iranian financial institutions sanctioned by the U.S. government. 

In an earlier version of the Shiba token website and in a subsequent post by Ryushi, a website called leashdoge.com is mentioned, which is no longer visible on the current Shiba Inu site. Examining leashdoge.com’s domain name suggests that Iranian company Haytech was the creator. 

The latter focuses on building software for banking, payments, and e-commerce. Clients include Hekmat Iran Bank, Tose’e Ta’avon Bank, Enbank, Tosan — several of which are linked to the Iranian military, with a presence on US sanctions lists. Haytech’s IP address is also on a list of IP addresses blocked for cybercrime. 

Also Read: What Binance Just Did With Shiba Inu And Why SHIB Will Hit $0.01

At least two of Haytech’s staff have an online presence and are blockchain engineers. And they may have been involved in the initial design of $LEASH and possibly also $SHIB through their ties to the leashdoge.com project. A number of things give off major red flags when looking at SHIB as an investment opportunity. 

The first is the audit results and the fact that one developer had the privilege and permissions to simply withdraw user tokens on ShibaSwap to some arbitrary address. While these issues were allegedly resolved, the exchange has only had one audit. The next red flag is the fact that the creator even sent coins to Buterin in the first place. It's near impossible to know the creator's real intent, but it comes off as a marketing move. 

There were many posts in the Shib Reddit community about the fact that Buterin owned the token and that he was an investor which further boosted people's hopes. Shiba Inu experienced mind-blowing gains early this year as it rose 1000s of percent. Although, SHIB price fell victim to market trends and has since fallen over -70% from highs. BTC must find its footing above 35k for SHIB to be clear to start a new uptrend back to old highs. 

SHIB price often follows DOGE which has shown some potential signs that a revival is occurring. The Shib token might recover pretty soon, according to AMB Crypto, a crypto news website. The coin has dropped off in value in recent days, which indicates people are buying up the coin because most cryptocurrency investors buy during the dip and sell when value spikes. “The token’s volume too has started to pick up the pace. If these two metrics continue to head in the same direction, SHIB’s price might rally soon,” according to AMB Crypto

Experts at Investor Place recently suggested that the Shiba Inu coin could kill Dogecoin. The problem is that the Shiba Inu token won’t ever gain widespread credibility. “SHIB coin could certainly continue to trend upward, and it could be a Dogecoin killer, but this doesn’t matter in the slightest,” according to Investor Place. “Being the Dogecoin killer won’t give Shiba Inu any validation in the long-term. A meme coin that beats out another meme coin is still foundationally unstable.


Also Read: What Edward Snowden Revealed About Shiba Inu And Why We Must Pay Attention 

Also, we would like to mention that this is not a website intended specifically to provide financial advice, and we do not ask you to invest in any company. This is merely a channel directed towards bringing educational content to your doorsteps. With that in mind, before you invest in anything, we recommend you do thorough wide-spectrum research on the topic.

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