HuskyX Review : Legit or Scam?

HuskyX token has ‘pumped’ 10,565%. Before this ‘pump’ I have never heard about this HuskyX token.  Currently, It is the trending token on coinmarketcap.com. It is also the highest gainer as at the time of writing. That’s the main reason I am writing this review.

The main reason, I usually pick top-performing coins to review is simple. Many crypto novices, see tokens like Huskyx pumping on apps like coinmarketcap and think, since coinmarketcap has listed it, it is legit. Why don’t I put my money, so this token can triple it for me?

That’s not how it works, my people. Save yourself heartbreaks and read through this article. Perhaps you’d learn how to filter shit from gems.

If you are thinking about FOMOING into HuskyX, or maybe you are just curious about HuskyX. This review is for you. I have checked everything (well, almost everything) on your behalf. All you need do is to find a nice calm spot to read through this review, line by line.

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 purposes, 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 research, whether you agree with me or not.

With that said, let’s get Started

Here’s a little intro to HuskyX, according to Coinmarketcap.com

HuskyX aims to go above and beyond for its community, by providing investors and degenerates alike with ample opportunities to ape safely into the most current and hottest project launches on the binance smart chain, all while perma pumping. Huskyx NFTs on Binance Smart Chain. Show your style sense to the world and conquer with Huskyx NFTs. Huskyx is not only a NFT collection also a play2earn based game to design your own style, mint and sell them on the secondary market. This is one of the best collections and a game for a fashion-lover can ever ask for! With this fashion huskyx game, you can design amazing fashion items and try them on beautiful virtual models. 1.000 unique and limited hand-drawn Huskyx NFT 220+ unique items with varying rarity acroos trait types Create your own style and Mint NFT (coming soon) Living in the BSC and other Network ecosystem 15% of our sales goes to community fund to buy the floor price Starting to develop a Play2Earn game!


This article saved our reader millions of dollars.


Personal Opinion. Huskyx is another dog meme project. It combines its “meekness with a rebase mechanism. Whenever I hear rebase, I see a red flag, because I know 90 percent of the time, it’s a useless project with no real direction. This is not biased but fact. 90 percent of rebase tokens built on BSC are useless projects, that steal investor’s money. This one claims to have a direction, as it is throwing NFTs and play2earn into its functionality. Let’s see if this is true in the review proper.

When I am looking at a new token, especially ones like HuskyX, pumping on coinmarketcap.com, to know their actual nature. The below are the things I look out for.

Website

White paper

Market Capitalization

Liquidity Pool

Developers behind the project

What people are saying about HuskyX

(If you are a frequent visitor of this website, you should know this. I want to stop writing this, however, 80% of my readership are new people)

I will go on to explain these points, in the following paragraphs.

Website

HuskyX’s website is one of those websites I’m indifferent about. The only thing I like about it is the uniqueness, and maybe the fact it has an SSL certificate, which makes it safe. Asides from these two things, it’s just average to me. Something about it makes it unattractive, I can’t put my hand around that yet. The description on the website is what was written on Coinmarketcap.com. This is a red flag, it is an obvious copy and paste job from their website to coinmarketcap.com. The copy and paste suggest laziness and carelessness on the part of HuskyX developers.

1.000 unique and limited hand-drawn Huskyx NFT 220+ unique items with varying rarity acroos trait types Create your own style and Mint NFT (coming soon)

When a project tells you, it features are coming soon. That’s a red flag. Unless the project has other strong core backing, projects like that are most likely to be scams. The above-quoted line is red flag number 3.

Tokenomics

The HuskX developers described their tokenomics as deflationary, hear them speak.

HUSKYX is a deflationary token which means the Total Supply is always decreasing, making it more and more rare (valuable). Each HUSKYX transaction is taxed, and a small percentage of the coins are burned, but holding does reward you in the end.” HuskyX has a total supply of 1,000,000,000,000,000. HuskyX tax transaction is broken down into 2% liquidity, 2% development, 4% marketing and 8% eth reward.

This means that you are taxed 16% upon every buys and sells HuskyX. The HuskyX developers also promise investors 8% Ethereum upon holding. This type of functionality has been so exploited by scam coins. It has become synonymous with a scam offer. Red flag. It is like Kia offering to give prospective buyers bits of Lamborghini, upon purchase. They went to talk about what rebase is.

Here’s what rebase is According to HuskyX,

“Rebase is an increase or decrease in the total supply of a given token across all holding pools and all wallets. This is done in order to adjust the token price, without affecting the value of anyone’s share of coins.”

Their definition of what rebase is again a copy and paste ‘work’, from another scam rebase token called UpLink. Red flag number 5.

Anyway, If you don’t understand that definition, here’s a simple explanation.

With rebase charts (The HuskyX 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 buy 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 going on, the mechanism reduces your token by burning them. 

White paper

The whitepaper is the same thing that has been said on the website. Nothing new, the developers behind Huskyx are copy and paste masters. They are probably the laziest scam token creators I have ever seen. This HuskyX dev team will not go above and beyond for anybody. They haven’t gone above and beyond for their scam beloved token, how can they go above and beyond for you?

Market Cap and Liquidity Pool

I’m not even going to bother with the market cap and liquidity pool. This token is a scam rebase. There’s no utility. It is just a way token creators use to milk money from crypto novices. They might not necessarily rug pull, but the tax is a stealth stealing mechanism.

Developers of the Husky X

The Developers of Huskyx claim to be doxxed on WatchTower.io. The said WatchTower has no credibility as it was established this year. I will take that report like a pinch of salt.

What investors are saying about the token

This is what the investors are saying about the token on Twitter.

On YouTube, it is a similar story

In conclusion

Most rebase tokens on the binance smart chain are useless shit coins with little or no potential to grow. Almost all the time, the developers just rinse and repeat the scheme for quick cash. HuskyX has ticked all the scam boxes. It has no utility, it is just a token that is built with  FOMO in mind. This token will not make you rich, rather, it will take money away from you.

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