Shina Inu Drops 13.23% Amid Scam Alerts, Eyes Technical Breakout

Shina Inu's latest price was $0.06, down 13.23% in the last 24 hours. The Shina Inu team has identified a new scam targeting SHIB holders through fake Discord invite links. Scammers are impersonating major crypto projects to lure users into connecting their wallets. This tactic has reportedly led to significant fund losses for affected holders. Hackers are exploiting expired Discord invite links to create fake servers resembling official Shina Inu channels. They then send these deceptive links to holders of targeted crypto projects. These fake links appear genuine, which increases the chances of users engaging with them. The scammers disguise themselves as official project accounts to gain trust from potential victims. They promise rewards or airdrops to encourage users to connect their wallets. This direct approach has resulted in immediate access to victims’ funds. The Shina Inu team emphasized that wallet connection through unofficial links gives scammers control over stored SHIB tokens. Many victims have reported that their holdings vanished within minutes of engaging with these fake servers. This has raised concerns about the security of online crypto communities. The Shina Inu team has strongly advised its community to avoid unofficial links. “Always confirm invites through our verified channels,” the team stated in its August 14 post. They stressed that only links from the official website are safe. Shibarium Trustwatch also warned users against connecting wallets through Discord links and urged holders to verify reputations through other official social platforms. According to the group, this method can reduce the risk of falling victim to these scams. Community members are encouraged to stay informed about evolving scam methods. The Shina Inu team’s frequent updates aim to maintain trust within the ecosystem. These alerts have become a key part of safeguarding SHIB holders from new threats. Security warnings from the Shina Inu team have reinforced the importance of vigilance in the crypto community. Consistent updates help prevent widespread losses and keep holders aware of active scam tactics. This proactive approach has bolstered the ecosystem’s credibility. The team’s focus on protecting SHIB holders is helping to build long-term investor trust. Shibarium’s growth has been linked to increased awareness of these risks. By addressing threats quickly, the Shina Inu community continues to strengthen its defenses. These developments show that active communication remains vital in safeguarding digital assets. As scammers evolve, so must the security strategies of the Shina Inu ecosystem. This ongoing effort highlights the team’s commitment to protecting its global community. Shina Inu is edging toward a technical breakout that could pull prices back to July highs. Traders are watching the $0.00001438 mark closely as momentum builds. The move follows weeks of recovery from early August’s multi-week lows. Market chatter points to a mix of technical signals and fresh ecosystem plans driving sentiment. Still, the path higher faces resistance that could slow the rally. Shina Inu’s price action is pushing against the top of a symmetrical triangle pattern that has been forming since late July. Data from Coinpedia Markets shows the token trading near $0.00001369, closing in on the $0.00001438 breakout trigger. Traders see this level as the first major step toward regaining momentum lost in the late July correction. The recovery began after SHIB dropped to around $0.0000121 in early August, its lowest in several weeks. That decline was followed by steady higher lows, creating an ascending support line on the chart. On the upside, the pattern’s descending resistance now meets price in the $0.0000138–$0.0000140 zone, putting the market on alert for a decisive move. If buyers clear $0.00001438 on a daily close, analysts point to immediate resistance at $0.00001469. Beyond that, $0.00001518 could be tested, with $0.00001599 marking the late July peak. Failure to maintain $0.00001280 support, however, could reverse the setup and open a path toward $0.0000121 or even $0.0000112. One factor helping bullish sentiment is the sharp increase in SHIB’s burn rate. According to Coinpedia Markets, over 101 million tokens were burned in the past week. That’s a 333% jump from prior levels, which reduces circulating supply and could support price if demand stays steady. At the same time, on-chain data suggests low SHIB balances on exchanges. This typically points to reduced immediate selling pressure. Combined with the burn activity, these conditions can give rallies a stronger base if technical breakouts occur. Volume trends remain an important confirmation point. A breakout without rising trading volume risks a false move, while heavier activity could validate the upward push. Traders are closely monitoring this as the triangle pattern nears its apex. Beyond technicals, Shina Inu’s ecosystem is seeing developments that may bolster its market position. Plans for a stablecoin partnership aim to enhance liquidity and utility within its DeFi network. Governance restructuring is also in motion, with changes designed to streamline decision-making and improve project adaptability. Such initiatives, while longer-term in nature, add another layer of interest for holders tracking both price and project fundamentals. They also create a broader narrative that could attract new participants to the network. With the $0.00001438 level in focus, the next few sessions may decide whether SHIB challenges July highs or slips back into consolidation. Shibarium’s transaction count has exceeded 1.5 billion, supported by daily activity that consistently remains above three million. The Shina Inu development team issued a significant clarification to its community on August 14, 2025. While specific technical details were not elaborated in the source, the communication aimed to address community inquiries or misconceptions regarding ongoing development efforts. These periodic updates are crucial for maintaining transparency and community engagement for the project. Analytical data indicates a noticeable decrease in the supply of Shina Inu tokens held on cryptocurrency exchanges. Reduced exchange balances typically suggest a shift towards holding tokens in private wallets for longer periods, a trend often interpreted by market observers as a potential reduction in immediate selling pressure. However, analysts also noted that as token valuation saw fluctuations, exchange supply subsequently experienced a mild increase from lows observed in early August. This development suggests market participants should continue monitoring exchange balance metrics closely for shifts in holder behavior. Technically, Shina Inu broke out from a specific chart pattern identified as a "falling wedge" by market analysts. This technical development generated discussion among analysts, with some interpreting the breakout as a signal of potential future upward momentum. Concurrently, broader market sentiment around meme coins like Shina Inu was impacted by discussions concerning systemic risks highlighted during a period of sharp market movement. These risks were attributed partly to the aforementioned broader cryptocurrency market pressures originating from U.S. Treasury policy confirmation.