Shibarmy Scam Alerts Exposes Misleading Crypto Project Mimicking Shiba Inu's DN404 Token

Shibarmy Scam Alerts, a community-driven channel that exposes scams targeting SHIB enthusiasts, draws attention to a misleading crypto project mimicking its

Shiba Inu (SHIB) enthusiasts are being warned about a crypto project that is accused of mimicking the SHIB community project token DN404.

According to ShibArmy Scam Alerts, a community-driven channel that exposes scams targeting SHIB enthusiasts, a project called Female SHIB (SHEB) has stated that it has no affiliation with Shibarium. However, the Shiba Inu ecosystem team still believes the project has malicious intent due to its misleading branding.

In a recent tweet, Shibarmy Scam Alerts drew attention to Female SHIB, a project that has raised concerns among members of the ShibArmy. The project's use of “SHEBOSHI” and “SHEB” in its token name has been flagged as being intentionally misleading.

“If you're making a project and want it to be legit, why choose names that will confuse the community if your intentions are pure?” the tweet reads.

Notably, SHEB is the official ticker of SHEboshi, Shiba Inu’s DN404 token, which launched earlier this year. The token, which combines the capabilities of the Ethereum ERC-20 and ERC-721 standards, sold out in minutes.

While there has not been much news for SHEboshi lately, its ticker, along with that of Shiba Inu, has been used to create a project that is considered to be malicious. The project's use of names affiliated with the Shiba Inu ecosystem has been met with disapproval from the ecosystem team.

“They're using names in our ecosystem to breed distrust. Always do your own research and verify the authenticity of projects through official channels,” the Shiba Inu ecosystem team said in a statement. “Stay vigilant.”

Meanwhile, Female SHIB, which is focused on empowering women in crypto, made its debut this year. Its X account, which was created in May 2024, has only 157 followers and follows 16 X users, including top Shiba Inu proponents like Jake Gagain and SHIB Knight.

Although the token is referred to as Female SHIB on X, its official name is SHEBOSHIS (SHEB), similar to Shiba Inu’s DN404 token. Notably, Female SHIB is listed on Uniswap under the trading pair SHEB/WETH. It is priced at $0.0000002233, with a daily gain of 1.37%.

Data from DEXTools shows that Female SHIB has a market cap of $94,080 and a circulating supply of 420.69 billion. A total of 1,040 addresses are holding the token at press time.