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Dogecoin (DOGE) creator Billy Markus has firmly denied any involvement in newly emerged project Sheboshis. This denial comes after inquiries about his potential association with the project were raised by the community.
Sheboshis, characterized by its token SHEB, draws inspiration from the renowned meme cryptocurrency Shiba Inu (SHIB) and its accompanying NFT collection, Shiboshis. While Shiboshis have garnered support within the SHIB community, Sheboshis stand as a separate entity on the Ethereum network. It claims a backstory in which SHEB is "the wife" of SHIB, the original Shiba Inu token.
The project's website explicitly states that SHEB is a meme coin devoid of intrinsic value or any expectation of financial returns. It emphasizes its lack of a formal team or roadmap and disavows any affiliation with established entities such as Shiba Inu or the Shibarium team.
Recent market data indicates a sharp decline in the price of SHEB, dropping by 32% within a short span. This downward trend underscores the inherent volatility and risks associated with investing in obscure and unfamiliar tokens, especially within the crypto space.
Despite receiving attention from some segments of the SHIB community, Sheboshis' dubious nature and lack of clear fundamentals warrant caution from potential investors. The absence of a formal team, roadmap or affiliations with established projects raise concerns about its legitimacy and long-term viability.
As with any investment opportunity in the crypto space, investors are advised to exercise prudence and diligence. Engaging with obscure projects and tokens without thorough research may expose individuals to financial risks and potential losses.
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
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