The team behind meme cryptocurrency Shiba Inu (SHIB) has issued a public warning against ongoing online scams that primarily target altcoin investors interested in SHIB tokens.

The proactive scam alert came in the form of a tweet detailing the various methods used to dupe unsuspecting victims from the Shiba Inu customs.

The alert further stated, "A fake Shiba Telegram group is being shared beyond all social media. The scammers impersonate official accounts and create fake users. These scammers answer to general posts."

While Shiba Inu attracts aspiring crypto millionaires and billionaires, bad actors accept ramped up efforts, targeting unwary investors on social media platforms including Twitter and Telegram. Some of the common methods used to contact potential victims are impersonating official accounts and targetting hashtags such as #shib #shibarmy #leash #shibaswap and #bone.

Furthermore, Shiba Inu's scam alert highlighted that the customs is not offer whatsoever kind of promotions including airdrops, bonuses, giveaways or gifts. As a general dominion, investors are expected to refrain from sharing wallet keys, credentials or joining and following fake social media accounts.

Related: Meme tokens and dogcoins inundation the marketplace as price wars heat up

Taking inspiration from Shiba Inu'southward success, numerous dog-themed tokens take started to alluvion the crypto marketplace. Nearly recently, SHIB hit an all-time high of $0.000086 on Oct. 28 but has been struggling to keep upward its value.

Shiba Inu'southward development squad has also developed and released some other token called Doge Killer (LEASH), which has as well seen 130.3% gains recently.

In addition to the token's mainstream adoption, a growing customs of investors has placed SHIB in some of the nigh pop crypto exchanges including Binance.US and Crypto.com.

The hype effectually the Dogecoin (DOGE) spinoff is attributed to an extended bull market period that returned high profits for small-time investments. Every bit Cointelegraph reported, an $8,000 investment made past a 35-year-old supermarket warehouse manager in early 2022 is now worth over $i 1000000.