Shibarmy Scam Alerts, a community-driven channel that exposes scams targeting SHIB enthusiasts, draws attention to a misleading crypto project mimicking its DN404 token.
In Shib inu latest news, ShibArmy Scam Alerts alerted crypto enthusiasts, especially Shiba Inu investors, that the team behind Female SHIB (SHEB) had stated that it has no affiliation with Shibarium. Nonetheless, the Shiba Inu ecosystem team still believes the project has malicious intent due to its misleading branding.
Warnings Regarding Female SHIB
Shibarmy Scam Alerts noted that the project’s use of “SHEBOSHI” and “SHEB” in its token name is misleading. It indicated that the Female SHIB team should not have chosen names that could confuse Shiba Inu community members if it intended to create a legitimate project.
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 considered to be malicious.
Shiba Inu’s ecosystem team frowned at the project’s use of names affiliated with its ecosystem, emphasizing that such a practice breeds distrust.
Meanwhile, it encouraged crypto enthusiasts to always conduct due diligence and verify the authenticity of projects through official channels, urging users to remain vigilant.
Female SHIB Details
For context, Female SHIB made its official debut this year, focusing on empowering women in the crypto industry. Its X account, 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.