Shytoshi Kusama, Shiba Inu‘s lead developer, called out Crypto.com for sharing incorrect information about the TREAT token on July 21.
Recently, Shytoshi Kusama, the primary developer of Shiba Inu, took to X to draw attention to an exchange’s error concerning TREAT, a token in the Shiba Inu ecosystem.
On July 21, the primary developer shared a post that alleged that Crypto.com had provided users with inaccurate information regarding the token.
This post has rapidly garnered significant traction in the broader crypto space, elucidating the complexities surrounding the TREAT token and providing users with a secure trading environment.
The developer stated in his post, “Unfortunately, Crypto.com incorrectly assumed that our TREAT token had been launched, despite the fact that it has not yet been released.”
This statement is in reference to a previous article on the crypto platform that provided users with an incorrect link to a Treat site.
As clarified, the relation was not associated with the Shiba Inu ecosystem. Subsequently, Kusama’s post underscored that the SHIB community had already initiated efforts to resolve the matter by reaching out to the exchange.
Additionally, Shytoshi Kusama’s post stated, “Exercise caution when dealing with this additional Treat token (and the numerous other spoofs that will undoubtedly be developed to defraud you).”
TREAT is the utility and governance token for Shiba Inu’s new privacy-focused Layer 3 blockchain, which is worth noting. Additionally, SHIB is among market capitalization’s most highly valued meme currencies.
In the interim, the price of SHIB was at $0.00001779, indicating that it was in a state of consolidation. The 24-hour lows and highs of the coin are $0.00001714 and $0.0000184, respectively.
CoinGape’s most recent price analysis of SHIB indicates that the token is aiming for a price of $0.00002 in the face of substantial whale accumulations.
Additionally, the RSI remained at 49, suggesting that the dog-themed meme token is poised for a potential takeover by either market bulls or bears.
The uncertain market posture of SHIB further fueled investor speculation, as evidenced by the derivatives market data.
The volume increased by 6.42% to $218.02 million, while the futures OI sank by 6.98% to $45.87 million.
