I just noticed Baby Musk coin, on coin market cap.com. It is currently occupying the second position on the trending coin list. When I divided to check it out, some investors alleged the project is a scam. While some think it is a legit project.
One thing I noticed about Baby Musk Coin is that most of its holders are Spanish speakers. Even, most of the reviews I checked out on youtube are in Spanish. So, what is the true nature of Baby Musk Coin?
Stick to the end of this review to find out whether this project is safe to invest in. But first, you have to know that “I’m not a banker or a financial expert. I will not be held responsible for your financial decision. This article is just a guide and nothing more, you are advised to fact check the information from this review and make your conclusion”.
Without further ado, let us begin.
So, What is Baby Musk Coin?
According to coin market cap.com, Baby Musk Coin is a tribute coin to Elon Musk. Its community has one main goal: to catch Elon’s attention such that he will join the project. The token operates with a hyper Hyper-deflationary mechanism, and an integrated smart staking system built in to reward you in BTC that are being automatically added to your wallet each transaction.
I have to admit that I’m not a fan of projects like this, whose main goal is to court Elon Musk’s attention. Time and time again, projects like this have been proven to be slow rug pulls. The name and purpose of this token are red flags.
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Baby Musk Coin’s Website
Baby Musk Coin’s website, you’d agree with me has a simple and professional touch about it. The website is easy on the eyes and very welcoming. The description begins with a why baby, which is a repetition of what was said on coin market cap.com
Baby Musk Coin has a total supply of 420 quadrillion. The token is hyper-deflationary as it promises to burn half of the total supply in one year. For those who do not know, hyper deflationary tokens are designed to be progressively more valuable time after time. The token also claims to incorporate rewards. As seen on the website, investors are encouraged to hold the token, so that they can earn “staking” rewards in bitcoin.
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Investors are taxed 10% of their investment and profit when they buy and sell the token. According to the website, the tax is distributed like this. 4% BTCb is redistribution to all holders as a reward for holding. 3% goes to the liquidity pool, to ensure the token has liquidity. Lastly, 3% goes to the marketing wallet. If you ask me, this is a fair tokenomics.
Checking Baby Musk Coin On TokenSniffer
I checked baby Musk Coin on token sniffer and what it revealed to me was not shocking. According to tokensniffer, Baby Musk Coin’s audit score is 0 because it was flagged as a scam by the automated contract scanner or the admin.
The token appears to be unsellable. The owner owns more than 50% of the token. The contract is not original, amidst many other red flags.
Developers Behind Baby Musk Coin
The developers behind this token are of course nameless and faceless. Undoxed projects are most likely to pull major scams. It is even worse when you combine other factors. The creators seem to have targeted the Spanish-speaking parts of the world.
In conclusion, this token is a scam from the pit of hell. Token sniffer has flagged it to be one. The developers are unknown. They seem to have used the website to convince many investors. Even from the name and purpose of the token, you’d know that this token is a scam waiting to happen.
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