Fairy token has been appearing on my feeds on Reddit for some days now. I have decided to pay closer attention to it, document, and publish my thoughts on the token.
My first point of call is the fairy Token tokenomics. The total supply is 1,000,000. This has to be the most limited supply ever. I do not know the reason behind this very small supply, however, the developers want the token to be very valuable in the future.
Fairy token rewards those who hold the token with BTC for just holding the token.
The fairy token contract buy tax is high, while the selling tax is obscenely higher. Token sniffer has the buy tax to be 12% while the selling tax is 20%.
The developers behind Fairy Token claim to be the same developers that launched Mermaid token. Which has done 1500X since it launch 3 weeks ago. This claim has not been verified.
Fairy token is gradually getting popular with just 780 holders at the time of making this video. Fairy token hasn’t been listed on coin market cap yet or any other crypto app. You know what that means in crypto terms. It’s really early and very risky.
Inconclusion, this looks like an early gem. However, it comes with a plethora of risk. For example, the tax is high. If you decide to invest in this token, you must know when to hold and when to dump.(Honestly).
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