Shiba Inu: CoinMarketCap finally takes down fake contract addresses

Sahana Kiran
Shiba Inu
Source – Unsplash

The Shiba Inu [SHIB] ecosystem has been making multiple upgrades as the demand for the meme coin continues to surge. CoinMarketCap [CMC] and CoinGecko have been the go-to spot for many potential investors who flock into its market. However, a recent mishap by CMC caused an immense commotion in the SHIB market. Now, weeks later, the crypto market tracker finally fixed its error.

CoinMarketCap’s reliability was put under question after it listed three fake SHIB contract addresses. The only legit address on the network was that of Ethereum’s. Apart from this, the platform had mentioned a Binance Smart Chain, Solana as well as Terra addresses. The Shiba Inu community expressed immense fear as the credibility of the addresses was uncertain.

The SHIB Army alleged that CMC had “knowingly” listed the fake addresses. Despite clarifying that the non-ETH contract addresses were wormhole addresses, the Shiba Inu community wanted it to be taken down.

More recently, the SHIB community rejoiced after CMC took the other two addresses down.

Despite the removal of these wormhole addresses, the warning that explains what wormhole addresses are continues to stay on the website.

Source – CoinMarketCap

Shiba Inu and CoinMarketCap

The SHIB Army was furious following this incident. The community even called out the crypto market tracker for poor transparency and non-responsiveness. The Staff Manager of SHIB’s Discord previously told Watcher Guru,

“We have been attempting to talk to CoinMarketCap and we have been helping bridge the communication for this. We have sent multiple emails to CMC and they have been very dismissive over several things we have requested.”

Shiba Inu has emerged as one of the most prominent cryptocurrencies. The meme coin even topped the list of popular coins on CoinMarketCap during January. With this sort of demand and popularity, platforms like CMC have expected to display legit information. However, the SHIB Army has been in a battle with the market teacher for months now for an array of things.

More recently, the community went on to ask CMC to delist the meme coin if they continued to portray false information.