SHIB developer Kaal Dhairya has pointed out a recent targeted attack on the real Shiba Inu team, a strategy he says intends to pull them down.
In a tweet, Dhairya stated that he has recently observed a pattern of targeted statements aimed at the “actual” Shiba Inu team, a category of people whom he says has spent years tirelessly building for SHIB and have earned their stripes.
Dhairya describes these targeted attacks as a classic strategy of “tear others down so you can sell your snake oil.”
The comments from the Shiba Inu developer follow a statement from Shiba Inu-focused publication “The Shib,” which addressed a damaging claim circulated on social media alleging noncoverage of certain community developments due to personal conflicts or social squabbles.
Shiba Inu launched five years ago, in August 2020, by its mysterious creator Ryoshi, who set forth a pioneering vision for a “Doge Killer” in the crypto world.
Five years later, SHIB holders stand at 1,553,386, according to etherscan data, as the Shiba Inu community grew.
$1.93 billion sell-off hits crypto market
The cryptocurrency market extended a more than a month-long decline early Friday, with a further $1.93 billion in leveraged positions liquidated, according to data from CoinGlass.
The selling pressure intensified in the last 24 hours; Bitcoin fell to a low of $81,385, marking its worst monthly decline since the 2022 crypto winter.
Major cryptocurrencies including Shiba Inu also saw significant drops, down 9.71% in the last 24 hours to $0.000007793 and down 15% weekly.
Shiba Inu reached a new yearly low of $0.0000071 on Friday, which was last seen in October 2023. Taken from a high of $0.00001026 on Nov. 11, Shiba Inu has seen nine of eleven days in losses, today included.
Global market conditions and waning retail sentiment are contributing to the ongoing crypto downturn. The market has struggled to find new buyers since October’s sell-off, and the momentum that had supported prices earlier in the year evaporated.