As the broader market continues its downward journey, it has spared no one except XRP as Ethereum, Solana, and even Shiba Inu are recording significant losses. Adding on to SHIB holders’ troubles is Ethereum’s OpenSea “fraud” warning from the development team.

Via a recent tweet, the SHIB team revealed that their investigation team is looking into the fraud. Until further updates, the Shiba Inu team has asked all its Shiboshi holders to remain alert for any major update from OpenSea and the team working with their NFTs.

Furthermore, it also recommended as a safety measure to revoke the connection with their NFTs and disconnect them from their wallets.

In a subsequent tweet, the team further expanded on the status of the investigation.

<p lang=«en» dir=«ltr» xml:lang=«en»>At this time we are reporting that our team has been monitoring the situation, in what appeared to be an exploit due to a sourced 'Phishing Attack', that has affected many users utilizing the @opensea platform.

Here's a more comprehensive look at the events that unfolded today… https://t.co/TCR8dfCOS4

— Shib (@Shibtoken) February 20, 2022

Now, even though SHIB holders might be safe from the fraud, they happen to be suffering in their own way thanks to the condition of the market.

With the charts continuing to flash red candles, Shiba Inu seemed to be among the market’s biggest losers at the time of writing. Down by over 10% in the last 24 hours, the altcoin has added to the 18.84% drop over the last 5 days. Now, although it hasn’t invalidated the 58% rally of February, it’s getting closer.

In fact, it might touch the local bottoms soon since today’s plunge resulted in the meme coin losing the 50 and 200-day Simple Moving Averages as support. This is the first