What's Really Happening to Shiba Inu? Developer Breaks Silence on Team Sabotage

Shiba Inu developer Kaal Dhairya has spoken out against coordinated attacks targeting the cryptocurrency's core development team. The developer raised concerns about a pattern of negative statements directed at team members who have dedicated years to building the SHIB ecosystem.

Dhairya took to social media to highlight what he describes as deliberate attempts to undermine the legitimate Shiba Inu team. He characterized these efforts as a calculated strategy designed to discredit established developers while promoting alternative agendas. The developer specifically noted that those under attack have spent considerable time earning credibility within the community through consistent work and dedication.

The controversy emerged following statements from ”The Shib,” a publication focused on Shiba Inu news. The publication addressed allegations circulating on social media platforms suggesting biased coverage decisions based on personal disagreements. These claims accused the outlet of deliberately ignoring certain community developments due to internal conflicts.

Community Growth Amid Market Turbulence

Shiba Inu celebrates its fifth anniversary this year after launching in August 2020. The anonymous creator Ryoshi established the token with an ambitious vision to compete with Dogecoin in the cryptocurrency market. The project has achieved substantial adoption since its inception. Current data from Etherscan shows 1,553,386 SHIB holders worldwide, demonstrating significant community expansion over the years.

The cryptocurrency sector faced renewed pressure on Friday as markets extended losses beyond one month. Liquidation data from CoinGlass revealed $1.93 billion in leveraged positions wiped out during the downturn. Bitcoin dropped to $81,385, recording its steepest monthly decline since the 2022 crypto winter. Major digital assets across the board experienced sharp corrections.

SHIB Price Reaches Yearly Low

Shiba Inu suffered notable losses in recent trading sessions. The token declined 5.96% in 24 hours, falling to $0.000007923 at the time of writing. Weekly performance showed a 15% decrease, reflecting broader market weakness. On Friday, SHIB touched a new yearly low of $0.0000071, a level not seen since October 2023.

SHIB Price action in the last 1 month, Source: CoinMarketCap

The token peaked at $0.00001026 on November 11 before entering a prolonged downtrend. Nine out of eleven subsequent trading days registered losses, including the most recent session. The sustained selling pressure pushed prices down more than 30% from recent highs.