Shiba Inu Issues Anti-Scam Warning; MicroStrategy to Join the Nasdaq 100 Index

SHIB Community Urged to Exercise Caution with New Projects

The Shiba Inu (SHIB) team has issued a crucial anti-scam warning to its global community, urging users to exercise caution when engaging with new projects on the Shibarium network. This warning comes in response to the increasing number of fraudulent activities targeting the SHIB community.

SHIB Team’s Anti-Scam Warning

One of the SHIB social media admins, known on the X social media platform as @DavinciShib, addressed the vast global community of the second-largest meme cryptocurrency, Shiba Inu. Davinci warned the SHIB army not to blindly invest in new projects that may join Shibarium and begin inviting users. He emphasized the importance of thorough research before jumping on board with any new projects, as not all third-party cryptos on Shibarium are likely to be trustworthy.

Comparison to Solana

Davinci also drew a comparison to the Solana network, which he described as “huge and absolutely crawling with scams.” He highlighted that scams are an inevitable part of the crypto game, stating, “I mean, look at Solana, huge and absolutely crawling with scams. It’s just how the game is played”.

SHIB Burn Rate Spike

In related news, the Shibburn tracker revealed a significant increase in the burn rate of Shiba Inu, soaring by more than 515% over the past 24 hours. This spike was due to the SHIB burns recently performed by the SHIB community, with a total of 72,847,617 SHIB removed from circulation.

MicroStrategy to Officially Join the Nasdaq 100 Index

MicroStrategy, the largest corporate holder of Bitcoin, is set to join the Nasdaq-100 Index on December 23rd. This inclusion marks a significant milestone for the company, which has seen its stock surge over six-fold this year, driven by its aggressive Bitcoin investment strategy.

Nasdaq-100 Inclusion

The Nasdaq-100 Index, which tracks the 100 largest non-financial companies listed on the Nasdaq exchange, will welcome MicroStrategy along with Palantir Technologies and Axon Enterprise. These companies will replace Illumina, Super Micro Computer, and Moderna in the annual reconstitution of the index.

Impact on MicroStrategy

Inclusion in the Nasdaq-100 is expected to further boost MicroStrategy’s stock price and potentially pave the way for its inclusion in the S&P 500 in 2025. The company’s market value has soared to almost $94 billion, largely due to its substantial Bitcoin holdings. Analysts predict that this inclusion will attract significant buying activity from exchange-traded funds (ETFs) that track the Nasdaq-100, potentially driving up the stock price even further.

Bitcoin Investment Strategy

MicroStrategy’s decision to purchase and hold Bitcoin as a reserve asset has been a key factor in its stock performance. The company currently holds approximately 423,650 bitcoins, valued at around $42.43 billion based on recent prices. This strategy has not only enhanced the appeal of its stock but also positioned MicroStrategy as a proxy for Bitcoin investment.

Future Prospects

Analysts at Bernstein expect that MicroStrategy’s inclusion in the Nasdaq-100 will bring more visibility and recognition to the company, beyond the fresh ETF inflows. They also foresee the company’s prospects continuing to improve next year. With the increasing interest in Bitcoin and the company’s strategic investments, MicroStrategy is poised for further growth and success.