Shiba

Dogecoin

Shiba Inu

Safety

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
Dogecoin (DOGE) creator&nbsp;<a href="https://x.com/BillyM2k/status/1759447920267665643?s=20" rel="noopener noreferrer nofollow">Billy Markus</a> has firmly denied any involvement in newly emerged project Sheboshis. This denial comes after inquiries about his potential association with the project were raised by the community.
Sheboshis, characterized by its token SHEB, draws inspiration from the renowned meme cryptocurrency&nbsp;<a href="https://u.today/shiba-inu-this-indicator-reveals-why-shib-is-hot-to-new-investors" rel="noopener noreferrer nofollow">Shiba Inu (SHIB)</a> and its accompanying NFT collection, Shiboshis. While Shiboshis have garnered support within the SHIB community, Sheboshis stand as a separate entity on the Ethereum network. It claims a backstory in which SHEB is "the wife" of SHIB, the original Shiba Inu token.
The project's website explicitly states that SHEB is a meme coin devoid of intrinsic value or any expectation of financial returns. It emphasizes its lack of a formal team or roadmap and disavows any affiliation with established entities such as Shiba Inu or the&nbsp;<a href="https://u.today/shiba-inu-blockchain-mystery-deepens-as-shibarium-anomaly-continues-with-41-spike" rel="noopener noreferrer nofollow">Shibarium</a> team.
<h2 id="safety-first-memes-after">Safety first, memes after</h2>
Recent market data indicates a sharp decline in the price of SHEB, dropping by 32% within a short span. This downward trend underscores the inherent volatility and risks associated with investing in obscure and unfamiliar tokens, especially within the crypto space. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="cb585d80-2634-41c6-b4b8-775336202167" src="https://u.today/sites/default/files/inline-images/sheb.png">SHEB to USD by <a href="https://coinmarketcap.com/currencies/sheboshis/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
Despite receiving attention from some segments of the&nbsp;<a href="https://u.today/shib-price-prediction-for-february-18" rel="noopener noreferrer nofollow">SHIB</a> community, Sheboshis' dubious nature and lack of clear fundamentals warrant caution from potential investors. The absence of a formal team, roadmap or affiliations with established projects raise concerns about its legitimacy and long-term viability.
As with any investment opportunity in the crypto space, investors are advised to exercise prudence and diligence. Engaging with obscure projects and tokens without thorough research may expose individuals to financial risks and potential losses.

Dogecoin Creator Denies Involvement in New Shiba Inu-Inspired Project

Table of Contents

U_Today

Other articles published on Feb 19, 2024

The Graph Price Prediction: GRT Surges 24% As Experts Say This New Solana Meme Coin Might Be The ...

AllianceBlock Rebrands As Nexera Foundation, Launches Nexera Finance To Shape The Future Of Token...

MATIC Price Reversal Brings A New Hope For Bull Run To $2

MATIC Price Prediction: Polygon Rallies To $1 and Bulls Are Not Done Yet

Japan Approves Crypto for Investment Partnerships

What Will Be My Portfolio If HBAR Price Hits $1 in 2024?

Join our free newsletter for daily crypto updates!