The crypto-verse witnessed the emergence of meme coins and Shiba Inu [SHIB] was at the forefront of this revolution. The popularity and potential of the meme coin not only lured investors but also perpetrators into the market. However, the lead developer of SHIB wanted to keep these ill-doers at bay.
Elon Musk, the CEO of Tesla is a prominent member of the crypto community. His inclination towards meme coins particularly Dogecoin [DOGE] has boosted the market’s value. Therefore, an endorsement from Musk is highly sought after. Musk has time and again been involved in scams and hacks without really being involved. In a similar case, a fake video of the Tesla CEO foretelling the price of Shiba Inu was making the rounds.
A fake video titled, “Shiba Inu: Elon Musk & SHIB Holders predict $0.001 per SHIB | Cryptocurrency NEWS,” was being live-streamed on YouTube. While Musk hasn’t made any predictions about Shiba Inu yet, the video alleges that the Telsa CEO expected the meme coin’s price to surge to $0.001.
The fake live video created by miscreants got about 25k people onto its loop. Musk wasn’t the only one part of the video, Twitter’s former CEO, Jack Dorsey was also seen in it. Alarmed by this, Shytoshi Kusama, SHIB’s lead dev urged the community not to get scammed. Kusama tweeted,
This isn’t the first time that a fake video of Musk endorsing SHIB had surfaced. Just a couple of months ago, a similar video took the market by storm as Musk was seen making a prediction that Shiba Inu would touch $0.1.
Furthermore, the Shiba Inu community has consistently reported such videos on YouTube. however, the streaming giant didn’t seem to be taking them down.
Shiba Inu bags big money
The reversal of the sentiment in the crypto market pushed an array of coins to the green arena. Shiba Inu certainly scored big by recording a whopping 25% surge over the last 24-hours. Following this, the meme coin garnered a spot in the top seven assets with the largest turnovers on the crypto exchange OKX. SHIB reportedly recorded a turnover of $218.05 million over the past 24-hours.