It’s no everyday occurrence for a cryptocurrency to start a Twitter (NYSE:TWTR) war with one of its largest price-tracking websites. However, that’s exactly what’s happening this morning with pupcoin Shiba Inu (CCC:SHIB-USD) and price reference site CoinMarketCap. Indeed, the SHIB crypto is catching headlines today with its latest internet tiff.
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So, what do you need to know about the Shiba Inu debacle today?
Well, on Thursday, Jan. 13, the official Shiba Inu Twitter made a statement challenging recent actions by CoinMarketCap. SHIB accuses the site of knowingly listing three apparently fake contract addresses for the crypto, for Bep20 (CCC:SNM-USD), Solana (CCC:SOL-USD) and Terra (CCC:LUNA-USD). It went on to state that CoinMarketCap ignored communication requests and expressed its disappointment with the website.
Official Statement regarding the recent actions by @CoinMarketCap . pic.twitter.com/DXP2wZRhYC
— Shib (@Shibtoken) January 13, 2022
The @Shibtoken account followed up with two more tweets elaborating that “$SHIB is an ERC-20 Token Only!” Additionally, the account requested the #ShibArmy to remain “calm and professional” while they wait for a resolution.
CoinMarketCap has responded publicly, denying the claims. How will this latest crypto conflict conclude?
SHIB Crypto Sees Uptick on CoinMarketCap Twitter Spat
CoinMarketCap took no time in refuting the injurious claims against them with its own clarifying tweet.
For the avoidance of doubt, the addresses are not malicious. There is precedent for us to publish the contract addresses for wrapped assets because it would ultimately streamline the user experience and facilitate cross-chain transactions.
— CoinMarketCap (@CoinMarketCap) January 14, 2022
In addition to the tweet, the site added a notification to the top of its Shiba Inu page. It reads:
“Please note that the non-ETH contract addresses on this page are wormhole addresses, which are designed to facilitate cross-chain transactions of wrapped versions of this asset.”
CoinMarketCap’s defense isn’t without precedent. The practice of including wormhole addresses for wrapped versions of cryptos is common.
Fortunately for Shiba Inu, crypto bulls seem unbothered by the news. The token is up more than 3% so far today, despite the controversy. However, whether the address mix-up will be a thorn in SHIB’s side or not remains to be seen.
On the date of publication, Shrey Dua did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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