Shikage Token Review: 1000X or Another Scam?

I got to know about Shikage token some days ago through a conversation on Reddit that I found interesting. The truth is that Shikage token is a new one, it less is than 14 days old. As I write this, it is on the watch list of just 659 people and has pumped a little over 73%. 

If you are a small-cap crypto gem finder, or maybe are just curious about the Shikage Coin, or perhaps you have already invested in the project. This review was made with you in mind. Is this token a good investment or another scam? Stay with me till the end of this review to find out.

Before we begin, you have to know that “I’m not a banker or a financial expert. I will not be held responsible for your financial decisions. Consider this review alternative entertainment.  With that established.  Let us begin.

What is Shikage Token?

According to coinmarketcap.com,  Shikage ($SHKG) is an ERC20 token that is aiming to bring SAFU back to ETH by creating the first anti-rug liquidity Pool locker to ever exist in the crypto space. If you are new to crypto,  terms like ERC20 token, SAFU, and ETH may be a little difficult to understand. So, let us briefly go through these terms.

An ERC20 token is a standard used for creating and issuing smart contracts on the Ethereum blockchain. These smart contracts can then be used to create a smart property or tokenized assets that people can invest in. ERC stands for Ethereum request for comment.

The term SAFU was made popular by Binance C.E.O, Cz. This term is an abbreviation of Secure Asset Fund for Users (SAFU). This term is used when projects are secure and safe for investors. 

And, ETH is just a ticker for Ethereum.

What do all these mean? It means Shikage is a token that is built on the ethereum blockchain to provide security for investors and developers in the Ethereum ecosystem.


Shikage Token Website

Shikage Token’s website is brilliantly put together. You can tell it was created by thorough professionals. The description begins with the problem. The developers made it clear that the Shikage token was created in response to the various scams in the crypto industry. This is not the first time I’m reviewing a token with this utility. Dogezilla is a similar core utility, with its Zilla vault.

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Tokenomics

Shikage token has a total supply of 1,000,000,000 SHKG. The circulating supply is 500,000,000. 

Shikage token has a rather complex tax structure. A very high 25% sell tax is applied during the first 72 hours of investing in the token. According to the developers, this is designed to encourage investors to hold the token. However, after 72 hours, the selling tax is reduced to a moderate 10%. The buying tax is a moderate 10% and unchanging.

Here’s how the initial selling 25% tax is distributed.  An obscene 20% to marketing to grow the Shikage brand. While 5% goes directly to the Liquidity. This strengthens the project’s price floor. Meanwhile, the normal 10% buy and sell tax is distributed like this. 8% goes to marketing and the team, while the remaining 2% goes to liquidity.

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Developer’s Behind Shikage

The team behind Shikage is anonymous. Although the white paper tells us they are a five-man developer team. While I admit the concept of this token makes sense. We however do not know whether the developers have the experience and skillset to deliver on the big promise. Take a look at Saitama for example. Knowing the developers behind a project, especially when you are a long-term investor cannot be overemphasized. The fact the developers behind this token are not doxxed is a red flag to me.

Conclusion

In conclusion, I checked Shikage Token on tokensniffer. It is projected to be 66% safe. While it has some positives, the token has its drawbacks. The major drawback of this token is the fact that the liquidity lock expires in 11 days. This can be extended. Also, the fact the token has been not been renounced makes it more susceptible. Aside from these, the token has been certik audited. The supply is reasonable and it has the potential to grow, with many of the leading YouTube influencers backing and marketing it. I do not think the Shikage token is a scam.

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