Shiba Inu (SHIB) Faces Continued Decline, Warning Issued to Community

Shiba Inu (SHIB) is facing significant selling pressure, with its price dropping in the last 24 hours alongside a broader crypto market decline.

Shiba Inu (SHIB) is facing continued selling pressure, with its price dropping in the last 24 hours alongside a broader crypto market decline.

According to data from CoinMarketCap, SHIB is down by 8.7% in the last 7 days and currently trades at $0.00001255.

Shiba Inu Price Experiences Steep Sell-Off

The SHIB price has been on a downward trajectory since last week, and today's market movements continue the sell-off.

Broader macro-economic concerns and inflation data released on Friday have contributed to the sell-off across the market. As stock markets struggle with these developments, top cryptos like SHIB have fallen to their lowest levels in at least a week.

The SHIB price drop follows a period of profit-taking after the cryptocurrency rallied for five consecutive days between March 22 and March 26. As a result, SHIB has erased its weekly gains.

Crucial Warning Issued to Shiba Inu Community

In other news, a crucial warning has been issued to the Shiba Inu community about a phishing scam targeting crypto users.

The scam involves fake messages, often disguised as communications from platforms like Binance, claiming suspicious activity such as a new device being registered. The message prompts users to call a number to “secure” their accounts, but this is a scam designed to steal personal data and cryptocurrency.

A Shiba Inu-focused X account called Susbarium alerted the community about these phishing attempts and urged users not to engage with suspicious messages or calls. They recommended deleting such messages and reporting scams to local fraud authorities while reminding users to only connect with official channels to stay secure.