SHIB Devs Accused of Insider Trading—Token Dumps 40%

Shiba Inu $SHIB is in turmoil after blockchain investigators accused core developers of insider trading. Arkham Intelligence released a report showing massive SHIB dumps by wallets linked to the dev team hours before key announcements. The meme coin plummeted 40% in one day, triggering $96M in liquidations across SHIB futures. Community backlash erupted, with #BoycottSHIB trending. Dogecoin $DOGE saw a 12% rise as ex-SHIB holders jumped ship. Lead dev Shytoshi Kusama denied allegations, calling the data “fabricated.” Still, top exchanges including Kraken and OKX launched internal probes into SHIB token listings.