Shetoshi Kusama’s cautionary message to SHIB community

03/06/2023 11:10 • Blockchain Briefs • 112 views

On March 6, Shetoshi Kusama, the chief developer of Shiba Inu, announced on Twitter that he would no longer pay attention to any projects related to Shibarium, because the Layer 2 solution was more and more wrongly used to promote these projects. Kusama said that he believed in “DYOR” (doing his own research). Therefore, he stressed that if he happened to mention a project, he hoped that the SHIB community could study one or two, instead of following him blindly.

Shiba Inu Chief Developer: will no longer follow any Shibarium-related projects

Analysis based on this information:

In recent years, cryptocurrency has gained immense popularity, attracting investors from all over the world. The Shiba Inu token has been at the center of a lot of buzz lately, fueled by celebrity endorsements and social media hype. As more people enter the fray, the risk of blindly following the crowd and ending up with scams is high. Against this backdrop, Shetoshi Kusama’s message on March 6 offers a word of caution to the SHIB community.

Shiba Inu recently launched Shibarium, a layer 2 solution that is designed to support faster and cheaper transactions. However, Kusama pointed out that some projects related to Shibarium were misusing it to promote their products. He warned against buying into such schemes without doing proper research.

Kusama’s message underscores the importance of due diligence in the crypto space. DYOR (doing your own research) is a widely accepted principle that investors must follow to avoid scams and make informed decisions. Kusama’s advice is particularly relevant in the case of SHIB, given the frenzy surrounding the token.

Kusama’s statement is doubly significant because he is the chief developer of Shiba Inu. His warning indicates that even team members are not immune to the possibility of falling prey to scams. It is worth noting that Kusama did not name any particular project in his tweet, suggesting that there could be many such fraudulent activities that SHIB investors need to be aware of.

In conclusion, Shetoshi Kusama’s cautionary message to the SHIB community is a timely reminder that the crypto space is not a free-for-all market where anything goes. Investors need to be extremely cautious and do their due diligence before buying into any project. Blindly following the crowd or trusting a team’s endorsement is not enough to ensure safe investment in such a volatile market. With the right approach, investors can make informed and profitable decisions while avoiding scams.

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Shetoshi Kusama’s cautionary message to SHIB community

Shiba Inu Chief Developer: will no longer follow any Shibarium-related projects

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