Shiba Toby token is doing a crazy pump right now. On coingecko, Shiba Toby is probably one of the greenest tokens out there.
You can see the chat. It has pumped 3542% and it is not a glitch. Investing in this token, right now, with all these pumps is probably an unwise idea. However, the objective of this review is to find out if Shiba toby is a safe token to invest in.
Hence, this review is for you, if you are looking to invest in the Shiba Toby, if you are just curious about the project, and if perhaps you have already invested in the token.
But first, my customary disclaimer. “I’m not a banker or a financial expert. I will not be held responsible for your financial decision. This review is purely educational, crypto investments are high risk, high reward.” With that said Let’s know what Shiba Toby token is.
What is Shiba Toby Token?
In coin market caps words, Shiba Toby is the next decentralized cryptocurrency token on the binance smart chain network. It has learned a few tricks and lessons from his meme father, Shiba! The token claims its strengths are transparency and our work. Which will enable it to push the project as high as possible. Shiba Toby holders are entitled to reflection rewards. Here, we learn Shiba toby token is a meme coin, with no obvious use case. But, it rewards its holders for staying loyal and holding. Let’s check the website out.
Shiba Toby’s website
As I see it, Shiba Tobi’s website is remarkably low budget. It’s one of those websites you want to hurry away from. The description is mostly what we have learned about the token from coin market cap. However, I want to add that Shiba Toby rewards investors 5% of its tax. The rest of the websites are not relevant to this review.
Shiba Toby has a total supply of 1 trillion. Through the website, the token claims to have locked its liquidity for one year. Also, according to the website, On every buys and sells investors pay a 5.5% tax. These taxes are low. Which makes the developers seem unexploitative. 5% of this tax is used for reward, while the remaining 0.5 is used for marketing.
Shiba Toby On Tokensniffer
Through token sniffer, we find out that Shiba Toby is 37% safe to invest in. This, in my record, is unsafe. Here are some of the negatives around this project. The contract is unoriginal, this shows the project is a low-quality one. The owner’s wallet contains a substantial amount of tokens which could have a large impact on the token price if or when sold. The contract is a honey pot risk. Ownership is not renounced. The liquidity the owner claims is locked for one year was locked for just a few days. As you can see, the first lock has expired, while the next one expires in a few days. There’s hardly any positive about this token’s contact information, except for the very low tax fee.
Developers Behind Shiba Toby
The developers behind this token are nameless and faceless, that is, they are undoxed. Undoxed projects like this are suspect. The contract is unsafe. This is another clear red flag.
In conclusion, Investing in this token is not safe. All indicators seem to point towards one direction, a rug pull. The developers are undoxxed, the token has no use case, the contract and website are low budgets. Everything around this project is dodgy. Investing in this token is extremely risky.
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