GhenshinShibaInu token is ‘mooning’ on coinmarketcap.com, it is currently up 970%. As I write this, it is the trending token on coinmarketcap.com, occupying the top spot on the gainers section. Automatically this (doings) will attract the interest of many new investors.
If you are one of those investors (I think you probably are). This review is for you. I have double checked everything (well, almost everything) on your behalf. All you need do is to find a nice spot, to read this detailed review.
Before I start however, you need to know that I’m not a banker or financial expert. I will not be held responsible for your financial decisions. This article is just for educational purpose, consider it a form of entertainment. I’m not here to promote or disparage any coin. I consider my analysis to be objective. If you are not satisfied with the things I say, no problem. You are encouraged to always do your own research, whether you agree with me or not.
With that said, let’s get Started
Here is a little intro of GenshinShibInu, according to Coinmarketcap.com
GenshinShibInu is a novel AI rebase and reward token on binance blockchain.
I’m have reviewed token long enough to know that the word rebase, is a red flag. But, I’m not going to jump into any conclusion. Let’s get on with the review.
When I am looking at a new token, especially ones like GenshinShibInu. The below are the things I look out for.
Developers behind GenshinShibInu
What people are saying about the GenshinShibInu
To me, GenshinShibInu’s website can be described as, trash that is wearing an expensive perfume. The website is chaotic, with different (characters) activities making it hard for visitors to focus on a particular section. It is like a noisy and lousy market in Nigeria. However, like the uniqueness, the idea is fine, but the execution is horrendous.
The description begins with an ‘invite’ to an ‘adventure’.
GenshinShibInu promises to guide, protect and grow investors investment with it advanced A.I rebase protocol. The keywords here is advanced, A.I, rebase, and protocol. I hope they will explain what they mean by “advanced A.I rebase protocol”.
The description continues with the website explaining what GenshinShibInu is about. In their words,
“Our build-in new generation Artificial Intelligence (AI) rebase protocol undergoes a series of analysis, calculates the most reasonable supply adjustment based on the market condition. The perfect guardian for you to take on this Crypto investment adventure, while earning passive income in $SHIB along the way.”
The developers behind GenshinShibInu are clearly trying to confuse and obfuscate. Hoping their use of the term “advanced” “A.I” and protocol will draw in suckers. Do not fall for it.
The most important word in all of the quoted sentence is rebase. Many people dont know what it is, yet they buy rebase tokens. Only to scream scam, when rebase does as rebase does. I’m going to explain rebase to you, in a way you will understand.
With rebase, charts (the GenshinShibInu chart you saw, that probably persuaded you to consider the token) doesn’t mean anything in the grand scheme of things. The only things that matter is the market capitalization and total supply. If you invest and the market cap goes down, the chart goes up, holders sort of lose money. But when you buy and the market cap goes up, the chart goes down. The value of the token increases. While this is going on, the mechanism reduces your token by burning them as programmed in the contract. You could move from owning 1 million tokens to 30 thousand tokebs in a matter of days. I hope you understood that. If you didn’t, read it again, slowly.
The white paper begins by repeating the things said on the website, which we already have covered.
The total supply of GenshinShibInu is one quadrillion (1,000,000,000,000,000). Investors are taxed 12% upon every transaction conducted on the GenshinShibInu ecosystem. The tax is disputed like this 4% Liquidity Pool, 3 $SHIB rewards,3% Marketing and 2% Dev wallet
The white paper continues, by explaining why investors should invest in $GSHIB. In their own words
“Why invest in $GSHIB ?
Combining the power of smart Rebase protocol and popular SHIB token. $GSHIB is different from traditional BSC tokens in the marketplace.”
This is a lie. There are more than 10 tokens that propose a similar offer. Most of them rebase. Which makes GenshinShibInu no different from others, and honestly, others have proven to scams.
In the white paper, GenshinShibInu claims to have locked it liquidity pool for 6 months. It made all these claims without a tangible evidence or link that confirms this. Red flag!
Aside this, the whole white paper is a repetition of what is in the website. So, I will immediately, move to the market cap and liquidity pool.
Liquidity Pool and Market Cap
On poocoin, GenshinShibInu has a $1,007,740 market cap. For a new token, this is good. It also has $323,228 as a liquid pool. Apparently the liquidity pool is locked. However developers of this token have been accused of running a scam project. Here’s a link.
There are 7,499 holders of this token, as I am writing. While this is good as it shows a lot of investors are investing in the token. These investors are at risk of being dumped on because this token clearly have whales holding it.
Developers of GenshinShibInu
The developers of this token are unknown. This is a red flag. Many scammers run rebase schemes without direction or purpose and hide behind the cover of following Satoshi and Ryoshi’s example. This GenshinShibInu token is looking like one of them.
What Investors are saying about GenshinShibInu
Before we go into what people are saying about GebshinShibInu, I noticed their twitter handle was created in 2009. For context that’s the year bitcoin was created. You can see that the developers aren’t that smart. This is a token that was launched some days ago. The token probably bought an old twitter or one of the devs sacrificed his twitter account for the project. This tells me that, the devs are not patient to grow organically. This is a red flag.
On twitter, a lot of folks have fallen for their plot already. Many are using twitter to advice people not go buy.
On discus.com, many too have fallen for this obvious rebase scam.
This token is clearly a trash scam coin, taking advantage of gullible investors in the crypto market. Personally, when a token calls itself a rebase token, qualify it as a scam coin, unless the proven otherwise.
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