The Shiba Inu (SHIB) ecosystem is exhibiting signs of strength amid a burgeoning altcoin season, buoyed by increased adoption of its Shibarium layer-2 scaling solution and growing utility for tokens like BONE and LEASH.
Accompanying this momentum, SHIB’s price has registered a 1.31% gain over the last 24 hours, continuing an upward trajectory. Analysts suggest potential for further price appreciation as the altseason continues to unfold.
However, the increased market activity, characteristic of altcoin seasons, is driving a spike in Ethereum network gas fees. These higher transaction costs pose challenges for smaller retail traders navigating the market surge.
The elevated network fees and heightened market enthusiasm concurrently amplify the risk of cryptocurrency scams. Community watchdogs are issuing urgent warnings about fraudulent schemes seeking to exploit inexperienced traders.
In response to the escalating scam threat, proactive community initiatives such as Susbarium are prioritizing user education. They advocate strongly for enhanced security practices, including the consistent use of hardware wallets and mandatory two-factor authentication to safeguard user assets.