It is not an everyday occurrence for a cryptocurrency to start a Twitter (NYSE:TWTR) war with one of its biggest price tracking websites. However, that is exactly what is happening this morning with pupcoin shiba inus (CCC:SHIB-USD) and the price reference site CoinMarketCap. Indeed, the crypto SHIB is making headlines today with its latest internet tiff.
So what do you need to know about today’s Shiba Inu debacle?
Well, on Thursday, January 13, the official Shiba Inu Twitter made a statement challenging CoinMarketCap’s recent actions. SHIB accuses the site of knowingly listing three seemingly fake contract addresses for crypto, for Bep20 (CCC:SNM-USD), Solana (CCC:SOL-USD) and Earth (CCC:LUNA USD). He went on to say that CoinMarketCap ignored requests for communication and expressed disappointment with the website.
— Shib (@Shibtoken) January 13, 2022
The @Shibtoken account followed with two more tweets explaining that “$SHIB is an ERC-20 token only!” Additionally, the account request the #ShibArmy to remain “calm and professional” while waiting for a resolution.
CoinMarketCap responded publicly, denying the allegations. How will this latest crypto conflict end?
SHIB Crypto Sees Rise On CoinMarketCap Twitter Spat
CoinMarketCap was quick to refute the damaging allegations against them with its own clarifying tweet.
For the avoidance of doubt, the addresses are not malicious. There is precedent for us to publish contract addresses for wrapped assets, as this 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 at 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 is not without precedent. The practice of including wormhole addresses for wrapped versions of cryptos is common.
Luckily for Shiba Inu, the crypto bulls don’t seem bothered by the news. The token is up over 3% so far today, despite the controversy. However, it remains to be seen whether or not the address confusion will be a thorn in SHIB’s side.
As of the date of publication, Shrey Dua does not hold (either directly or indirectly) any position in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com publishing guidelines.