Freiza Inu Review : Legit or Scam?

Freiza Inu is barely 14 days old. Yet, it has attracted massive interest from a large segment of meme coin investors in the United States of America.  Freiza Inu is currently, going up like a rocket on coinmarketcap, beating many rebase tokens to occupy the second on the top gainer’s list. In today’s review, we are going to be checking whether Freiza Inu is another legit or scam project waiting for the perfect time to rug pull.  

Here’s a brief background of Freiza Inu, in the words of coinmarketcap.com

Frieza Inu is a community-driven reflection token on the Ethereum Mainnet. 1% of every transaction is redistributed to holders, and 8% is used for marketing and development. Like-minded community members have rallied around our mascot character and in turn receive Static Rewards. These rewards are correlated with trading volume and allow all users a chance to grow their holdings.

My Opinion on Freiza Inu’s background.

Being on the ethereum blockchain is a plus. As a reviewer, I have noticed most scam tokens’ choice of operation is always the Binance Smart Chain. This is because binance blockchain is not expensive to set up. Meanwhile, it is not so, for ethereum.

Let’s get down to doing a proper review

When I am investigating a new token, the below are the things I look out for.

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.


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Freiza Inu’s Website

Freiza Inu’s website reminds me of Wakanda Inu’s website. It is basic, average, standard for what is looking like the go-to theme for meme coin creators. I however like the fact that it is SSL secure, which gives you little confidence that those behind the website aren’t trying to steal or compromise your data. The website description begins with a salutation and a summary of what Freiza Inu is about.

“Welcome to Frieza Inu! A community driven frictionless yield token that combines gaming, NFTs, and a DEX”

Freiza Inu dev went on to fully explain what they were about. Which I will summarise in the below paragraphs.

Apparently,  Freiza Inu is anime and manga inspired. There’s an allusion to DragonBall.

It is an ethereum bases token, which has the ambition to become the top dog meme coin. The token uses a frictionless yield protocol. Which is simply hold and earn.

Freiza Inu’s developers claim they are more than just a hold and earn memecoin, because they have three real world use case projects, they are working on. These three projects are; Frinu Swap, NFTs, and an NFT Game.

There are lot of projects that have a similar offer, for example, Gogeta Inu. So, I’m looking at this with a side-eye. It however seems the developers are based in the USA. So, that counts for something.

Tokenomics

This is the breakdown: 100 trillion is the total Supply.  1% is redistributed to all holders of $FRINU.  8% is sent towards the Marketing and Development of the project. This sums the total tax upon any buys and sells of Freiza Inu to 9%.

On the website, Freiza Inu is only available on telegram. No matter how you look at it, this is not a good look. Freiza inu ought to be on other social platforms.

White Paper

Freiza Inu doesn’t have a white paper on their website as at the time of writing. This is a red flag. Even the most obvious scam coins these days, find ways to have whitepapers.

Market Cap and Liquidity Pool

According to Dextool, Freiza Inu has a $352,533.27 market cap. You can see that not many investors have put money in this Freiza Inu. It is yet to reach a million market cap. It however has a healthy Dext score of 85 and 100% community trust. I however, acknowledging that only 6 people have have voted.

Liquidity Pool is  apparent locked in Uniswap for a year. Also, the creator of Freiza Inu  has renounced ownership of the token. This makes Freiza Inu really safe for investment.

The holding numbers are really low. The project hasn’t zoomed off yet. As I write this,  the holders of the token aren’t up to 600. You can see that many people still don’t know about this token.

Developers of Freiza Inu

Ownership of the Freiza inu has been renounced. This is healthy. Investors don’t need to worry about a ghost owner looking for how to run a rug pull or honey pot. The ownership announcement makes it safe and really community-oriented. The success and the failure of this token is dependant on how committed the community is to the Freiza Inu project.

What investors are saying about Freiza Inu

On YouTube, the general mood is bullish. Investors think its a legit project that could make them tidy profit in the near future.

On twitter, (I later found out they had a twitter account, which isn’t on their website) I like the handler. Really straight up honest guy. You should check them out.

Conclusion

Freiza Inu is not a perfect project, the website is bang average, there isn’t a white paper, but it still looks like a legit project. It is early days for the token, with its less than 600 holders. The handlers of the community seem pretty overwhelmed by it. I imagine they are a small team of 20-year-olds, with little or no emotional intelligence. 

I’m not overly confident they can manage a large community of diverse, demanding investors. If they don’t sort out communication issues, the token might never really take off.

If you enjoyed reading this review, click here to read some more. Who knows? You might see a gem that might finally make you rich! Let me know what you think of Freiza Inu, by adding your voice in the comment section.