The Shiba Inu community-driven scam alert channel, Susbarium, has issued a fresh warning against the cat-themed memecoin Shiro Neko (SHIRO). It emphasized that Shiba Inu has no official connection to SHIRO, despite recent promotions from some influencers.
Market Observer Links Shiba Inu to Shiro Neko
Market analyst Ash Crypto stirred controversy by promoting SHIRO on X, claiming Shiba Inu supported the project. Ash argued that SHIRO had significant growth potential, citing its market cap gap with SHIB. He also predicted a bullish cycle for memecoins, suggesting SHIRO could benefit.
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However, Ash disclosed his advisory role with SHIRO, raising questions about his objectivity. Following Ash’s post, Susbarium quickly refuted the claims, reiterating that Shiba Inu does not support SHIRO. It clarified that while top SHIB influencers and the @shibtoken account had promoted SHIRO, the developers of Shiba Inu’s official website, shib.io, had distanced themselves from the project. Susbarium emphasized that millions of SHIB holders do not endorse SHIRO.
Susbarium stressed that @shibtoken’s posts do not represent the Shiba Inu ecosystem’s official stance. It highlighted that “SHIB is not an X account,” meaning endorsements from @shibtoken do not equate to official backing from Shiba Inu’s developers or community.
Shiro Neko’s Burn Event and Request for Partnership
Shiro Neko gained attention after burning 5.58 billion SHIB in a single transaction on October 31. Following this, it sought to establish a partnership with Shiba Inu. Despite this gesture, Susbarium advised SHIB holders to remain cautious and conduct thorough research before investing in SHIRO.
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On December 2, @shibtoken announced a collaboration with Shiro Neko for a dual-staking program. This initiative allows users to stake SHIRO to earn SHIB and vice versa. While the staking activity drew interest, Shiba Inu’s leader, Shytoshi Kusama, denied any affiliation with Shiro Neko. He reiterated this stance after community members questioned SHIRO’s legitimacy in light of Susbarium’s warnings.
At present, SHIRO trades at $0.0000003843, with a market cap of $384.02 million. The token’s value has dropped 56.47% from its all-time high of $0.0000009038, recorded on December 2. Meanwhile, SHIB’s current price stands at $0.00002754, ranking it as the 14th largest cryptocurrency on CoinMarketCap, with a market cap of $16.23 billion.
