If you haven’t noticed, there’s a new trend in the meme coin space. This trend involves the duplication of two popular meme tokens to form a new one. Often this new token claims it has the support from the communities of projects they are trying to copy. It started with ShibaDoge. Now, we have Shibtama, Shintama, and today’s topic, Saitanobi. Expect to see more tokens like this in the future.
Saitanobi was launched just two days ago. It has been making all the right noises since then. As this token gains more popularity, there will be a lot of FOMO around this project, and reasonably so.
Hence, this Saitanobi review is for those who are looking to invest in the project, those who are just curious, and those who perhaps have already invested in Saitanobi. Before we begin, you and I need to establish an understanding.
“I’m not a banker or a financial expert. I will not be held responsible for your financial decision. This article is just a guide and nothing more.” with that said, let’s know what saitanobi is.
What is Saitanobi?
According to coin market cap.com, Saitanobi’s mission statement is to change the crypto space. To make it safe, fair, and more informative for the average investor and vetted projects. Saitanobi token was created by WolfPack and ShinjaClans whales to celebrate Shinja. They already share a top holder and this token serves as a hunion (union?) between the two.
This description is littered with basic English language mistakes, which can be a turn-off for a certain demographic of investors. Let’s go on to review the website.
Saitanobi’s website is basic. It gives the sense of being in hell. With the hot yellow theme. You can see that the website is low effort and lacking in imagination.
The description begins with an about section. According to the website,
WOLFPACK and SHINJACLANS are the most incredible community projects in crypto. Saitanobi is bringing investors in both projects together, to maximize their gains. Saitanobi will use its treasury to buy SAITA, and SHINJA dips and help grow both projects. Saitanobi plans to release staking and farming for its holders. So they can earn SAITA and SHINJA as rewards. The project plans to airdrop 30% of the supply to both communities.
Clearly, the developers of this token are trying very hard to attract the interest of the Saitama and Shibnobi community.
Saitanobi’s utilities are woody gains and Ninja staking. Wolfy gains are simply the buying and distribution of Saita and Shinja to holders of Saitanobi. Ninja staking involves the staking of Saitanobi to earn passive income.
Saitanobi has a total supply of 69 sextillions. This supply is ridiculous. It reminds me of Dogezilla’s. We do not know whether the token is hyper-deflationary or not. Yeah, the developers said something about staking. However, staking is temporary.
Like many tokens, Saitanobi adopts a tax system. These taxes are supposed to fuel the growth of the ecosystem.
On every buy and sell, investors pay a 12% tax. These taxes are low, compared to other tokens. This shows that the developers are not exploitative. Here’s how the tax is distributed. 3% goes to reflection, 6.5% goes to Saitanobi’s treasury, lastly, 2.5 goes to the project’s liquidity.
Saitanobi on Tokensniffer
According to token sniffer, Saitanobi is unsafe to invest in. The contract checker rates Saitanobi 0%, at the time of writing this review. Here are some of the negatives around this project. The tax is high. The contract is unoriginal. The contract is a honey pot risk. Ownership is not renounced. The creator allotted to himself 15% of the whole supply. The owner has access to 23.7% of the liquidity. This makes the token a rug pull risk.
Developers of Saitanobi
The developers behind this token are of course nameless and faceless. Undoxed projects like this are the likeliest to pull major scams. This token looks worse when you combine the other factors we have pinpointed.
In conclusion, with all the info we have gathered about Saitanobi from its website, tokens sniffer, and coin market cap. I can boldly say that this token is not safe to invest in. The developers are undoxxed, the website is a mess, it looks like the project was deliberately built to be in the shadows of Saitama and Shibnobi. I do not want to call this token a scam. It however looks like one.
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