Shibtoro is a token I got to know about through a YouTuber, just a few days ago. According to him, a Shinja whale had dumped a large portion of Shibnobi Shinja he was holding, to purchase and hold Shibtoro. Since then I have been curious about Shibtoro. The question is, why did he do that? Maybe we will find out why, through this review. I want to say that this review should have come earlier, I apologize to my readers for that.
So, this review is for you, If you are doing your research and looking to invest in Shibtoro token if you are just curious about the token, or if perhaps you have already invested in the project.
Before we begin, you need to know that, “I’m not a banker or a financial expert. I will not be held responsible for your financial decision. It is totally important to fact-check the things I say and make your own conclusions. This article is just a guide. Consider it entertainment.”
With that said let us get to know what Shibtoro token is.
What is Shibtoro Token
Through Shibtoro’s website, we find out that the token called
“SHIBTORO IS A HIGHLY DEFLATIONARY TOKEN ON THE ERC-20 ETHEREUM BLOCKCHAIN. 1% OF EACH TRANSACTION FROM EVERY BUY AND SELL WILL AUTOMATICALLY BE BURNED TO CONTINUOUSLY REDUCE THE SUPPLY. THIS WILL ENSURE THE TOKENS YOU HOLD BECOME DESIRABLE AND VALUABLE.”
Also, the website tells us that,
SHIBTORO WILL BE THE PEOPLE’S TOKEN THAT GIVES BACK NOT ONLY TO ITS INVESTORS BUT ALSO TO CHARITIES IN NEED. WE VOW TO GIVE 5% OF TAX RECEIVED EACH MONTH TO CHARITIES IN NEED DECIDED BY OUR INVESTORS.
Shibtoro website’s design is relatively is basic, in my opinion. The description begins with an introduction we have already covered. Through the website, we learn that Shibtoro token just doesn’t have a clear use case, asides from encouraging its investors to hold and earn passive income. Although they plan to incorporate nfts later in the token’s development. This somehow makes them seem honest. The Shibtoro team also apparently has KYC’d by Interfi.
Shibtoro’s token has a total supply of 69 sextillions. This supply is unreasonable, even with the 1% deflationary mechanism. Curiously, those behind this project deliberately hid that away from the website and white paper. Like many tokens, Shibtoro token adopts a tax system. According to the website, On every buys and sells investors pay a 15% tax. These taxes are high, in my opinion. Here’s how the tax is distributed. 5% goes to the marketing wallet, 4% will go to development (for a token that says it doesn’t know what to develop yet, this is 4% for development is rather fishy). Again, 3% is sent to the distribution wallet. 2% is sent to the liquidity pool. While 1% is sent to the burn wallet.
Shibtoro Token On Tokensniffer
On tokensniffer, Shibtoro token is flagged for being a fraud and is rated 0%. According to tokensniffer, Shibtoro appears to be unsellable. However, After going through the community, investors are buying the token. Again, another red flag is the fact the token is not renounced, this sometimes is good, in many cases it is a bad thing because the developers have full control of the token, even as they claim it is a people’s token. And there are whales in the token ecosystem, which could lead to it dumping hard and fast in the future. The positive thing about the Shibtoro token is the fact its liquidity is locked unicrypt for the next 360 days.
In conclusion, this token cannot be compared to Shibnobi Shinja project. The risk involved around this token is way too high. I’m not calling it a scam, but many things around this token is suspect. If you know how pump and dump work then this token could be Taylor-made for you. But if you are green in the meme coin space, investing in this token is absolutely risky. The token is not renounced, the contract, for some reason, is suspect, there are whales in the ecosystem, the supply is unreasonable, this token only feeds on hype and nothing more. And there are thousands, if not millions of better meme coins competing with Shibtoro for the attention of a limited pool of investors. I will not be shocked to see the token disappear into thin air after a short time. Again, the guy shilling the token, Adam Shelton, is a popular YouTuber who is known for shilling crab tokens.