META Review : Legit or Scam?

Sometime last week, Meta pumped on coinmarketcap.com. I wanted to do a review of the token, but I got occupied by something else. Today, Meta has returned to the top of coinmarketcap’s gainers’ list, pumping an eye-popping 100,000%+ and I’m pumped to do a review. The purpose of this review is to find out if this token is a legit project or to discover if it is a dressed-up fraud. Like the many other frauds in the industry.

If you intend to invest in Meta due to the fact you saw it pumping on coinmarketcap.com, or maybe you are just curious about the token. This review is for you. I have done all the investigation on your behalf. What you need to do is to read through the review.

Before I begin, I’ll like to let you 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 and fair. If you are not satisfied with the things I say, you can always do your research.“

With that out of the way, let’s get ready to rumble!

When I am looking at a new token, to confirm their actual nature (Legit or Scam), 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 the

(If you are a frequent visitor of this website, you should know this by now. For context 80% of my readership are new people, that’s why I have to repeat myself sometimes)

I will go on to explain these points, in the coming paragraphs. But before that. Here’s a little background of the token, according to coinmarketcap.com

“META is a BSC meme and rewards token, predicated on the recent ‘rebranding’ hype. All holders of META are automatically rewarded SHIB token as buys and sells take place. Hold META, and watch your SHIB grow passively. The more we moon, the more SHIB we all make! SHIB is rewarded to holders when buys and sells take place!”

Personal opinion

Honestly, the above is a little underwhelming. Maybe that’s why I didn’t bother to do a review the first time. But, you never really know with these meme coins.  Doge and Shiba were underwhelming too. Let’s get into the business of reviewing the website.


This review helped one of our readers decide against investing his life savings in Angry Squid. 


Website

The first thing I noticed about Meta’s website is the present SSL certificate. Connection to the website is now secure. This brings authenticity to the website. Previously, it wasn’t so, this made me doubt the project from the get-go. Kudos to the developer for listening and putting that in order.

15 days ago, I called the website basic. The dev team has retouched the website. It is still not the best website in the meme coin space. It however a much-improved version of what it used to be.

The description went straight to the point. I like Meta’s use of the English language. They are not writing to get investors more confused. The language is simple and clear.

The core focus of Meta is the shib reward proposition. Which is reflected in the taxing system. With taxes at 12% on buys (10% rewards + 2% LP), and 17% (15% rewards + 2% LP) on sells.

I doubted the system of tokens that reward investors with other tokens, as Meta does. You can call it a personal bias or whatever. Now, however, I get it. The 10% tax is used to buy Shiba inu and redistributed to holders of Meta.

This picture of Mark Zuckerberg is funny to me. The developers are hoping Mark will be for Meta, what Elon is to Doge or Floki. But the thing is, Mark doesn’t wield that type of influence. I find it an aberration the token calls itself Meta, yet have no connection or any ambition in the increasingly growing traverse niche asides from being a “reward” meme coin. I like their honesty but It should be something more.

Meta ownership has also been renounced. Making Meta a safe and secure option for investors.

Meta token is also now Techrate audited. Meta’s techrate audit report was published 5 days ago. Which is fantastic to see. Techrate audits are becoming popular in the meme coin space. This is mainly because techrate conduct free audits of contract. The certik evaluation is still ongoing. The Certik audit is a big deal.

Meta organizes a community-focused meme contest. The first meme contest is billed to be concluded on the 4th of December. The winner will win 10 bnb.  Meta token also has a shop on redblue. Where Meta-stamped merchandise is sold.

The developers have locked 22.6% ( the last time I checked it was 25%, this suggests Meta is not doing well in the market right now) of the liquidity pool on mudra. This is the breakdown.
20.0000(14.78%) tokens unlock in 3 years
2.7965(2.07%) tokens unlock in a year
0.8568(0.63%) tokens unlock in a year
6. 9397(5.13%) tokens unlock in a year.

75% percent of the liquidity is burnt, making 75%+ inaccessible to the developers of the token forever. With about 23% locked (within 3 to 1 year) in mudra, this makes it extremely difficult for the token to be rugged by the developers.

White paper

This is what I said earlier about  Meta’s white paper. 

“Meta’s white paper is the laziest in the crypto space. Two pages of utter nonsense and a quote. I’m not upset it is short (they didn’t waste my time). I’m upset at the lack of effort to convince. How are people not seeing that this is a rug pull waiting to happen? This token runs an unsustainable model of rewarding investors in Shib.”

I’m glad that the white paper has been recreated. It is now a 14 page downloadable with enough information. It begins with a simple and clear introduction. Here’s how it reads.

“USE CASE
META is intended to be used as a viable trading currency with
the added benefit of rewarding holders with one of the most
established meme coins in cryptocurrency – SHIB.”

Most of the things in the white paper are present on the website. With more conviction and detail.

Market Cap and Liquidity Pool

Currently, the market cap is $4,737,235. Meta’s market cap has significantly plummeted, it was about $12 million, 15 days ago. This suggests many investors have sold off the meta. The liquidity pool currently sits at $272,388, also plummeting from about $300,000+. I however believe meta will bounce back, the general market has been bearish, for some time now, so this meta dip is understandable.

Despite the dip, more investors are investing in Meta as about 17,341 are holding the token, it was about 16000+ 15 days ago. It shows a large number of people have invested and will invest in meta. This is a green flag.

Developers of Meta

Developers of meta are undoxxed. However, this is no longer a big deal as the ownership of meta has been renounced. This gives investors a lot of confidence. It shows meta developers believe in meta-project and is here for the long term, they’d let themselves be known. The renouncement makes it a genuine community-driven project.

What people are saying about Meta

On Twitter, Meta has tweeted a total number of 129 times. It has 18k followers. It goes by the Twitter handle @META_shiba. On the web, it goes by the name metabsc.app. On telegram, it goes by the name, meta_token_bsc.

Here are some of the comments I saw on Twitter. People are bullish and desperate for the coin to succeed.

On YouTube, holders of Meta still believe in Meta. They are optimistic the Meta will rebound and moon.

Conclusion

In my opinion, Meta is a legitimate meme coin. I however think the meta developers and community should start thinking about bigger ideas, the fact it owns the name is a big advantage. I think the use of Mark Zuckerberg (parody) is dumb but I might just be wrong like I was. Meta could just be the next Shiba inu, but the community and marketing just have to be top tier. It is currently in a dip, now might be the best time to buy Meta.

Special shout out to the Meta team. Instead of camping in my comment section, you used the energy to improve Meta’s believability. Good job, you all.

If you enjoyed this review kind comments. If you disagree, also comment. Share this article so that others can see it. I have done many other reviews. Please check them out, you might see that gem that will make you rich!

Okay. That’s me done for today.

This review was edited. It was first published on 19 November 2021. After revisiting the Meta website, the writer saw it necessary to update the info herein.

3 Comments

  1. This article is just so so so wrong ! I don’t know where you got this dumb idea of pumps and dumps and scams and rug pulls, but you should make a better research or even learn how to do 1 !

    Ps: 75% of the liquidity is burn ! 😘

    • Where I got my dumb ideas from? 95 percent of coins like meta are scam tokens! Do you live in a cave? People have lost all they have, investing in useless tokens like Meta, and you are talking about 75% locked liquidity you knob head.

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