Boba Inu Token Review: Legit or Scam?

The crypto market is wiping the flow right now. This bear market has sucked the enthusiasm and energy around crypto. But this hasn’t stopped many developers from creating and launching their projects. One of these projects, is Boba Inu and it is what we are going to be discussing today.  Boba Inu is barely a month old, but it has grown astronomically in popularity amongst crypto investors, and there’s a ‘sense of this is going to be the next big meme coin to break out.   Because of this growth and hype, many meme coin investors are and will be looking to invest in it. 

This is one of the main reasons I decided to write this review. This boba inu review is an attempt to demystify the token, especially for new investors. In this article, we will be checking whether Boba inu is a project you’ll want to put your money into, or whether it is another dressed-up scam that’s going to burst soon.

So, if you are curious about boba inu, or you are a potential investor just getting to know about the token, or maybe you are already holding Boba inu (this demography is usually very sensitive. Try to read the review with an open mind). I desire to make new investors (even old investors) understand what they are getting into, so I try to explain crypto in an uncomplicated manner by breaking down crypto terms or whatever the developers are trying to say in basic English. Before we get into the main review, however, we first need to establish an understanding.

“I’m not a banker or a financial expert, I don’t even consider myself a crypto “expert” (whatever that means). I will not be held responsible for your financial decision. Crypto investments, especially meme coin investments are high-risk, high-reward ventures. This article is just a guide, consider it alternative entertainment.”

With that said, let’s go!

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What is Boba Inu?

Through commoner, we find out that “boba inu is a project that was created and based on BOBA, the cat was adopted by Dogecoin dev Billy”. For those who do not know who Billy is. Billy is popularly known as Shibetoshi Nakamoto. Coin mooner continued by saying that the boba inu  “team is active and has just informed the community that they want to adjust the tax breakdown a bit regarding a % of weekly burn to increase the value of $BOBA!”. Usually, the token I review are listed on coinmarket cap and or coingecko. This is not the case (yet) for Boba Inu. With that said, let’s go on to review Boba Inu’s website. 

Boba Inu’s Website

Boba Inu’s website can be described as a classic meme coin website. The website is basic and required little or no effort to put together. The website describes boba inu as a  community-driven token that gives its holders the Dogecoin token rewards.
The website went on to claim that “Dogecoin developer, Billy Markus, has already taken notice of Boba Inu and has also become a holder of Boba Inu. The rest of the website is littered with pictures of Billy Markus’s cat and supposed screenshots of a conversation between the developer of Boba Inu and Billy.

Boba Inu Tokenomics

Boba Inu’s tokenomics. The total supply of Boba Inu is 1,000,000. This supply is strange for a meme coin.
Investors are to pay 10%  upon every transaction undertaken on the boba Inu ecosystem. This is how the tax is distributed. 2% is sent to the wallet that is used to reward the holders of boba inu in doge. 3% is directed to the marketing wallet. 3% is used to add liquidity to the liquidity pool. While the remaining  2% is directed to the burn wallet. The tokenomics is at best average. There’s nothing special about it.

Boba Inu token on Tokensniffer.com

According to token sniffer, Boba Inu is
fairly safe. The contract checker rates it 75%, at the time of writing this review. This means that the token has a few downsides.

Let’s go to explain these negatives, in tokensniffer’s own words, boba inu’s source code contains a function that can set a maximum transaction amount. The source code also contains a function that can modify the transaction fee. And lastly, the boba Inu’s developers have the right which allows them to change the contract behavior (for example, disable selling, change fees, or mint new tokens). All of these are red gigantic red flags.  However, the token has its positives. One of the positives is that boba inu has enough liquidity. You, have to bear in mind that tokensniffer can be wrong sometimes. I have seen tokens initially score 100% and still pull a rug on investors. However, that occasionally.

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Developers behind Boba Inu

Unsurprisingly, the developers of Boba Inu token are unknown. This is a big red flag. I agree, not all real and legit projects have doxxed developers, for example, Shiba Inu, monero, etc. However, being doxxed goes a long way towards reducing the trust deficit between willing investors in Boba token and the developers

What investors are saying about Boba Inu

A lot of people on the Internet seem to be convinced Boba Inu is the next 1000X token.  Take Twitter and reddit for example, there’s a general sense of optimism around boba inu. A lot of influencers are reaching out to them for marketing purposes.

Conclusion

In conclusion,  boba inu looks like a token that wouldn’t survive the unfortunate ash reality of being a meme coin.  Yes, it is a new meme coin but is only being propelled by hype and hope. Another source of worry is the fact boba inu’s contract is in the hands of developers, who could decide to do whatever they feel like in the future. The worst thing is that investors like you do not even know these folks.  If you decide to invest in Boba inu, please invest what you can afford to lose.

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