Shibtama Token Review: Shibtama is Another Scam. Here is Why!

Three days ago, I did a review of a token called Shintama. Today, we are seeing a similar token Shibtama. If you are old to meme coin, this wouldn’t come as a shock to you.  If you are new, one of the things you are most like to notice in this space is the duplicity of tokens and their names.

Anyway, let’s review this token to find out whether it is another dressed-up scam or a legit investment destination. Hence, this Shibtama review is for those who are looking to invest in the token, those who are just curious about Shintama, and those who perhaps have already invested in the project.

But before we can go into reviewing Shibtama token, 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 go!

So, what is Shibtama Token?

According to coin market cap.com, SHIBTAMA is a project on ethereum that seeks to reward holders by merging liquidity pool-centric tokenomics with rewards-based utility. The Shibtama project was launched just 3 days ago.

I like the honesty of purpose around this token. Let’s check out their website.


Also Read: Grimace Coin Review: Another Squid Game Token?


Shibtama’s website

Shibtama’s website is basic. It reminds me of some of the shit rebase tokens I reviewed last year. The website screams low effort, and that is a red flag to me. The description is just a repetition of what we already pointed out through the coin market cap. I however want to highlight something important.
According to the developers, Shibtama token seeks to reward holders. However, Shibtama’s tokenomic does not suggest so. Normally, meme tokens like Shibtama set aside some part of their selling tax to use as a reward (reflection) to reward their holders. This is not so for Shibtama, even if the description suggests so. There seems to be a disconnect between the Shibtama token’s description and its tokenomics.  Let’s go on to analyze Shibtama’s Tokenomics.

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Tokenomics

Shibtama token has a total supply of  1 trillion. No indication suggests the token is deflationary. Which makes this supply a red flag.

The buy tax is a moderate 10%. Here’s how the buy tax is distributed. 5% goes to marketing, while the remaining 5% goes to development. The sell tax is 12%, which is high. 4% from this 12% is sent to the liquid pool. Another 4% is sent to the marketing wallet. The remaining 4% is sent to the developer’s wallet. This tokenomics is exploitative. What exactly are they developing?


This Review saved our readers Millions of Dollars.


Shibtama Token On Token Sniffer

According to token sniffer, shibtama token safety score is 50%. We find out that
the contract contains ownership functionality and ownership is not renounced which may allow the creator or current owner to modify contract behavior (for example: disable selling, change fees, or mint new tokens). There can be legitimate reasons for not renouncing ownership, check with the project team for such information. The contract is unoriginal or copied. Cloned contracts indicate a low-quality token.

For a token that claims to be “liquidity pool” centric. This token doesn’t have enough liquidity. Which could allow for significant amounts to be removed (rug pulled). Another point of conservation is the fact that the Shibtama token tax, as seen on token sniffer is different from the tax on their website. 

Developers Behind Shibtama Token

The developers behind this token are of course nameless and faceless. Undoxed projects are most likely to pull major scams. This token looks worse when you combine other factors.

Conclusion

In conclusion, the developers behind this token seem like baby scammers. The token is disjointed, unorganized, and is rudderless. The developers are undoxxed. The token has no clear utility. The contract is of low quality. The website is dodgy. The red flags around this Shibtama are numerous. Investing in this token is extremely risky and unsafe. I will not be surprised if it is another decorated rug pull.

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