BuffedShiba ($BSHIB): Legit or Scam? Do your due diligence.

Today I’m going to be reviewing one of the fast rising  dog memecoin in ”crypto town”.

If you are new to this website or my writing, I usually start my token reviews by listing out the things I checked, as regards the token I’m reviewing. These things are usually,

The Website

The White paper

The Liquidity pool

The Market Cap

The Developers of the token

What people are saying about the token on the various websites.

But before I do that, let me tell you a little about the token I am about to review.

BUFFEDSHIBA ($BSHIB)

BuffedShiba was launched on the 25th of October 2021. It is a ‘buff’ version of Shiba. According to the devs through coinsniper.net

“Buffed Shiba is the only Shiba Inu inspired token that lifts. With the help of the muscular community, caffeine-induced memes and of course a bit of marketing, $BSHIB aims to be one of the top dogs in crypto. All jokes aside, we strive to be an extremely fair token to all investors especially small ones. 100% of the total supply will be used as liquidity, so 100% of the token goes to public investors.
Later down the road we will introduce utility NFTs that will be minted by burning $BSHIB, you can expect huge token burns.”

BuffedShiba’s Website

The BuffedShiba’s  website is stylish. There aren’t many better ones out there. Usually, meme coins have average looking websites, seeing BuffedShiba’s website look the way it looks, is a welcome development. It was clearly done by a professional. They even have a cool anthem that plays on the website.

Going through the words on the BuffedShiba website. You’d quickly realise the developers aren’t much of talkers, they are  brief with words. They welcome you by saying and that’s it.

“Welcome to the iron halls of Buffed Shiba, a community driven token that strives to be extremely fair to our investors.”

I’ll talk about the tokenomics in the white paper.

White Paper

If the BuffedShiba website is ‘straight to the point’. The white paper is ‘straighter to the point’. It is honestly, the shortest ‘whitepaper’ I have ever read. It is a 5 paged pdf. You can get it here.


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Before we move to talking about the market cap, I noticed something out of tune about BuffedShiba. In the white paper, the max fee (tax) is 10%, while on the website, it is 8%. 
Insert

White paper’s Max fee of 10%
Website’s Max fee of 8%

This suggests a lack of uniformity in the team. They need to update and synchronize their communication channels.

Tokenomic.

BuffedShiba has a total supply of 100,000,000,000,000 (100 Trillion). The launching was fair, this means that the token was 100% distributed to the public. They didn’t give any stakeholders a upper hand.

The BuffedShiba token is deflationary. 5% of each transaction is added to the liquidity pool.

Personally, I like the simplicity of of this token. No fluff. They aren’t telling you, how they are going to change the world with charity to dog shelters, like many meme token out there. They recognise their objectives as a memecoin that has a community to of believers to build, and are acting accordingly. It is either you believe them or you don’t. They aren’t trying too hard to convince you.

Liquidity Pool and Market Cap

The liquidity pool of BuffedShiba token sits at a growing  $404,830, as at the time of writing. With an impressive total number of 53%  burned and 45% locked in Unicrypt . For a coin that just launched on the 25th of october year, these are impressive numbers.  The burnt and locked liquidity signals the legitimacy of the project and reduces the chances the creators of this token will steal your investment. You however, need to confirm the lock period from the ‘team’ before you buy the token. To be certain of the longevity of the liquidity lock contract.

The market cap is slightly over $2,600,000  and growing. This is a respectable  market cap, for a token that got launched less than a months ago.

The total supply of the token is 1 trillion. There’s however a 1 burn mechanism put in place to reduce BuffedShiba token’s supply progressively from period to period. This ought to make it more valuable as time go by.

The token has about 24,674 holders. This is super healthy, as it indicate the community is growing and you are still in the early stage. The dev team stayed true to their anti whale claim. No wallet address owns more than 0.5% of the token. Except for, the burn address and Pancakeswap V2: BSHIB 69. This is positive signal for me.  

Developers behind BuffedShiba token

Unsurprisingly, developers of  buffedshiba have chosen to be anonymous. This is not a shock to me because, buffedShiba sees was inspired by BuffDogeCoin. I hate to say it, but this is a red flag. If you follow my writing, you’d know I love a project with a face or two faces. But, we can argue that the developers behind Shiba Inu are faceless. They have a unique promise though, they’ll renounce ownership of the project after BuffedShiba makes it to Centralized Exchanges. How do you renounce ownership of something you are anonymous about?

What people are saying about the token.

On twitter, The buffedShiba has about 11k followers. This is good for social proof.  Their account have tweeted a total number of 23 times, since they created it in September, 2021 (as at the time of writing). 

Many followers seem excited about the token. 

On  telegram, they have 18k+ people in the group. Investors in the token are upbeat and are excited about the token.

On YouTube, there i big excitement around the coin. People have hope that BuffShiba token ($BSHIB) will make them money.

Conclusion

BuffedShiba is growing at a fast rate. The team give you a honest vibe. You can tell they aren’t trying to confuse you with nonsense.  If I’m to score them over  10, I’ll give them a 7. They have a good plan and an achievable objective, whether they’ll stick with it, is anybody’s guess. If you are willing to risk it and invest, make sure you confirm the time frame of the liquidity lock. One thing I’m sure is that many people will invest in this project as they are realizing the potentials of memecoins with strong communities. BuffedShiba ($BSHIBA) is raising a great community of believers. So, like BuffDogecoin, this might just be the next dogecoin or shiba inu. Just to be clear, I do not like the anonymity of the dev. Please note, BuffedShiba ($BSHIBA) is not to be mistaken as Buff Shiba ($BUFFS).


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