Shiba Inu (SHIB) Faces Price Drop Amid Market Sell-Off and Scam Warning

Shiba Inu (SHIB), the popular dog-themed cryptocurrency, is under pressure as the broader crypto market sees a decline. According to CoinMarketCap, SHIB has dropped 1.53% in the last 24 hours, trading at $0.00001262. This marks its fourth consecutive day in the red after reaching a recent high of $0.00001567 on March 26. The dip follows a five-day rally between March 22 and 26, with profit-taking likely contributing to the price pullback. SHIB has now erased its weekly gains, down 2.42% over the past seven days.

The wider crypto market is also experiencing a downturn due to macroeconomic concerns, including hotter-than-expected inflation data released last Friday. As a result, both crypto and stock markets have seen significant volatility, continuing through the weekend.

Meanwhile, a crucial warning has been issued to the Shiba Inu community regarding a new phishing scam. The alert, shared by Shiba Inu-focused X account Susbarium, highlights fake messages that appear to come from Binance. These messages falsely claim that a new device has accessed the user’s account and prompt them to call a number to "secure" it. The goal is to steal personal information and crypto assets.

Susbarium advises users to delete such messages, avoid sharing personal details, and only engage with official communication channels. They also urge community members to report scams to local authorities and help raise awareness to protect others.

With SHIB’s price volatility and increasing scam activity, investors are advised to stay cautious, monitor official sources, and protect their assets. The combination of market uncertainty and security threats underscores the importance of vigilance in the crypto space.