Shinji Inu Token Is A Scam. Here is Why!

There’s a new shitcoin doing rounds in the meme coin space. This coin goes by the name Shinji Inu.   Can you beat that?  Another Inu token in a bloody bear market. I saw the token pumping and trending on coin market cap. I have never seen a token do that before.

So, I thought it good to run a review of this token. Because I know many new and old crypto investors will be experiencing certain levels of FOMO on this one.

This Shinji Inu review is for those looking to invest in the token. It is also for the folks who are just curious about Web3 Inu, and for people who perhaps have already invested in the project.

Before we get into reviewing Shinji Inu, you have to know that “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 understood, let us define what Shinji inu is.

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What is Shinji Inu

Shinji Inu is basically a creation of Elon Musk’s tweet. According to coinmarketcap.com, Shinji Inu is a Defi project that launched right after Elon Musk published his tweet, on 19th Jan 2022, referring to Anime character Shinji, from the well-known Evangelion anime series.

Personal Opinion

I have seen this happen again and again. Token developers stalk Elon Musk’s Twitter handle waiting for him to tweet anything, so they can make a token out of it. Tokens like floki inu and the rest have followed this blueprint. I’m tired of hype coins like this. However, being tired of shitcoins will not stop me from reviewing this token OBJECTIVELY.

My first observation is that the token is built on the ethereum blockchain. This comes with its positives and negatives. First, of all, a Project built on ethereum is seen as more authentic. Less rug pulls happen on the ethereum blockchain, compared to the binance smart chain. I think ethereum was selected to give Shinji Inu an authentic vibe. The drawback of ethereum is that it has a high barrier to entry. The ethereum network gas fees are insane. This can make investing in Shinji Inu awfully expensive.

Let’s take a look at Shinji Inu’s website.

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Shinji Inu’s website

The token’s website is basic. But I like it. You can tell it is low effort and hurriedly put together. The description begins with a short description.

Elon’s new tweet token

I like their honesty. The rest of the website is rather drab if you are not into manga.

Tokenomics

Investors are charged a moderate 10% tax upon every buy and sell of the token. This is how this 10% tax is utilized. 4% goes to the marketing wallet. 2.5% goes to the “development” wallet. Another 2.5% goes to liquidity. While 1% goes to reflection. For those who do not know. Reflection is a reward system that encourages holders of the token to keep holding. Every holder of Shinji Inu benefits when transactions occur because they share the 1% transaction fee. This increases their holding figures. Shinji Inu’s total supply is conspicuously absent on it’s website. This tells you the developers might not be proud of it.

Shinji Inu’s white paper

Let us move on to Shinji Inu’s white paper.

Unfortunately, Shinji Inu doesn’t have a white paper. Like I said earlier. This token looks like something that had to be launched before another developer beat them to it. There’s not much thought to it. This is a red flag. On the roadmap, the dev said something about contract audits. That’s funny because a simple examination of the contract on token sniffer shows the Shinji Inu token’s contract to be a ticking time bomb. The toke score 10/100. Which is a big red flag. The contract is a honey pot risk. Honey pot contracts let you buy but lock you out from selling. Whales are holding too much of the token. That might potentially dump it on inexperienced and naive investors. Shinji Inu’s contract is not safe according to token sniffer.

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Developers of Shinji Inu

The Developers of Shinji Inu are unknown. This is a red flag. For some people, crypto is a get-rich-quick scheme. And developing a token is the easiest way to get rich fast. From the Shinja Inu low effort website to the reason behind it. You can tell that Shinji Inu developers are probably desperate con men looking to cash out in this beer market.

In conclusion, the only half positive thing about Shinji Inu is that it was built on ethereum. This was perhaps done to camouflage the token. The rest of the token is cabbage. All the red flags are there. If you are thinking about investing in this token, give it another long hard look. Do your own research. Investing in Shinji Inu is extremely risky. I will not be surprised if the coin is already dumping as I write this.

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