Shiba Inu's official X account with 3.8 million followers began promoting low-cap meme tokens on July 10, departing from its usual SHIB ecosystem coverage.
Back
SHIB X account promotes low-cap tokens after 124B token exodus
Shiba Inu's official X account with 3.8 million followers began promoting low-cap meme tokens on July 10, departing from its usual SHIB ecosystem coverage.
The shift coincided with 124 billion SHIB tokens moving out of exchange wallets in the prior 24 hours, according to on-chain data, a pattern typically associated with accumulation rather than selling.
The account, which typically posts about the SHIB token and developments within the Shiba Inu ecosystem — including Shibarium, its Ethereum L2 network — instead shared posts highlighting third-party tokens with minimal market capitalizations. The posts did not carry any disclaimer about sponsored content or disclose a relationship with the promoted projects.
If the account was compromised, the incident exposes 3.8 million followers to potential phishing scams and could erode trust in the SHIB project's official communication channels. If the activity represents an intentional strategy shift, it risks diluting the SHIB brand and confusing the community about the project's focus. Either scenario creates uncertainty around SHIB's near-term price trajectory, with the token facing potential selling pressure as holders assess the implications.
The timing of the promotional activity adds to the confusion. The 124 billion SHIB outflow from exchanges — tracked across Binance and other major platforms — typically signals that holders are moving tokens to self-custody, a behavior often interpreted as bullish because it reduces available supply on exchanges. That signal now competes with the uncertainty generated by the account's unusual behavior.
Shiba Inu is the second-largest memecoin by market capitalization, with a deeply engaged community that has historically rallied around ecosystem milestones such as the Shibarium launch and the development of ShibaSwap, its decentralized exchange on Ethereum. The project's media infrastructure had maintained a consistent focus on these internal developments before the shift on July 10.
No official statement from the Shiba Inu team had been issued as of press time. Followers are advised to verify any links or offers posted by the account until the situation is clarified.
This article is for informational purposes only and does not constitute investment advice.
