Shintama Token Review: Shintama is a Scam. Here’s is Why.

Shintama is a new token on the ethereum blockchain gradually turning the heads of many investors. This token was released 3 days ago and within that 3 days. It has gained 1500 holders. Not many tokens pull this off this quickly.

My plan today was to do a Pink Panda token review, requested by a subscriber.

But fate has drawn my attention to Shintama. I believe this review couldn’t be more timely. There’s a lot of hype and FUD around this project and reasonably so. Many YouTubers are beginning to hype this up to be the next big thing.

Therefore this Shintama 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. I promise to make the seemingly complicated crypto terms simple and clear.

Before we can go into reviewing Shintama, 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”


Click Here to watch this review on youtube


With that said, let us get into what Shintama is.

According to coin marketcap.com, “Shintama is a DeFi project launched after the success of Shinja and Saitama. The project has grand plans to build a bridge between everyday internet users and the Defi world safely and simply”.

The project seeks to emulate Shibnobi Shinja and Saitaima. This is not new in the meme coin space. BabyDoge emulated Dogecoin and has gone on to become a very successful project rewarding investors. However, BabyWakanda emulating Wakanda Inu has gone on to run a rug pull, trapping and leaving investors stranded. Will Shintama be like BabyDoge or BabyWakanda.

9 Solid Project you should watch out for

With that said, let us get into what Shintama is.

According to coin marketcap.com, “Shintama is a DeFi project launched after the success of Shinja and Saitama. The project has grand plans to build a bridge between everyday internet users and the Defi world safely and simply”.

The project seeks to emulate Shibnobi Shinja and Saitaima. This is not new in the meme coin space. BabyDoge emulated Dogecoin and has gone on to become a very successful project rewarding investors. However, BabyWakanda emulating Wakanda Inu has gone on to run a rug pull, trapping and leaving investors stranded. Will Shintama be like BabyDoge or BabyWakanda?

Shintama’s Website

The Shintama website is unique and well done. It looks like something a very good professional was involved in. The website is SSL secure and it is optimized for different display viewports. The description or purpose like the website calls it, tells us what we already know, as seen in coin market cap. We find out that the token promises utility. According to them, Shintama in the DeFi space has grand plans to build a bridge between everyday internet users and the Defi world in a safe and simple way. Shintama’s cutting-edge use case will grow naturally in the DeFi space. It boasts a modern and sleek browser built from the ground up to be compatible with DeFi.

In simple terms, Shintama plans to build a web browser akin to Brave. The browser will have web3 features like an in-built wallet for staking, Decentralised exchange, etc. This project looks interesting. But, take it with a pinch of salt. Many projects have appeared with “grand” projects like this. Only for them to disappear, as they came. Even, Saitama is guilty of this. With its underwhelming Saitamask that could not live up to its billing.

Again, Shintama looks like something the developers rushed into after their website went live. A token with such a lofty project should have a whitepaper or lite paper. Shin Rama does not have one. This is a red flag.

Tokenomics

Shintama’s tokenomic looks all over the place. By saying that, I mean the tax is not clearly communicated. According to the website, investors get a 3% reflection on every transaction. The tax (which they didn’t state) is structured in this manner. 4% Marketing, 2.5% Development, and 2.5% Liquidity. I have no idea what the max wallet of 1% is doing in the tokenomics. What this means is that the developers are either deliberately trying to obfuscate the tokenomics or they have no clue. Where’s the 3% reflection reward coming from? Curiously, the total supply of this token seems to be a secret.


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


Shintama On Tokensniffer

On tokensniffer.com, we find out that, we find out that Shintama token’s contract is 0% safe.  This is an obvious red flag.
Again, we are made to understand that the buy tax is 11%, while the selling tax is 10.9%. This is different from what is on the website.

We also find out that the contract is not renounced, the developers can easily manipulate the contract for good or evil. This makes the contract susceptible to a rug pool. Also, the developers have the right to increase or decrease the tax. The dev behind shintama has 19.03% of this coin, which is dangerous.

Developers Of Behind Shintama

I think the best thing about Shibnobi Shinja is the fact the developer made it clear it is a legit project by doxing from the very beginning. Again, Saitama also made it known that it was legit with its investor-centric tokenomics and distribution. Shintama does not have any of these attributes. The developers are not doxxed. They own large portions of the token. Also, the grand plan is perhaps too big for a group of random people to achieve. Building a successful browser takes absolute experts. I bet the developers behind Shintama know nothing about building browsers, talk more about building browsers with such capability.

Conclusion

This token is a scam waiting to happen, in my opinion. All the signs are there. The developers are undoxxed and seem to know nothing about communicating tokenomics. The developers own large amount of the token. The goal is seemingly a white elephant. The contract is not original, the main aims to target investors that missed out on two successful tokens. The red flags are numerous.  If for whatever reason, you decide to invest in this token, put in what you can afford to lose.

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