Shira Inu Review: Legit or Scam?

This review was inspired by one of our readers, who had politely asked that I help review Shira Inu. Before this reader asked, I  honestly didn’t know of Shira Inu. But, my experience as a writer has taught me to always pay close attention to what my readers want. “The voice of the people is the voice is God”, right?

This review is for you if you are curious about Shira Inu, if you are a potential investor just getting to know about crypto or you are already a holder of Shira Inu (this demography is usually very sensitive. Try to read the review with an open mind).

I desire to make new investors understand what they are getting into, so I try to explain crypto coins in a not-so-complicated manner, by breaking down crypto terms or whatever developers are trying to say in simpler English.  Before we get into the main review, we first need to establish an understanding.

“I’m not a banker or a financial expert, I don’t even consider myself a crypto “expert” (whatever that means). I will not be held responsible for your financial decision. Crypto investments, especially meme coin investments are high-risk, high-reward ventures. This article is just a guide, consider it alternative entertainment.”

With that said, let us get into the review.


Also Read: These 9 coins will make you Rich in the coming months


Shira Inu’s Website

Shira Inu’s website is perhaps one of the simplest websites in the world. The dev team seems to have chosen message over design. That option, however, seemed to have given the website a low effort theme. I, however, like the fact it is SSL secure. It is always important to that in check.  Unfortunately, the website is not optimized for mobile. Which makes it look rather armature and terrible.

Observe the ‘black’ space

What is all that white, sorry, “black” space for? That, in my opinion, is terrible viewing.

The description begins with what seems like technical crypto jargon not many folks will understand. Here is how it was put.

“Shira is a revolutionary combination of Defi – NFT Collectibles and GameFi technologies with groundbreaking tx gas-saving technics and mindset. Innovation meets a powerful structure, and Shira Inu was born, to be governed and grow by and for its growing community.”

If you don’t understand what the above quote means, don’t be too hard on yourself.  There are three key terms there.
Defi, NFT, GameFi technologies, and maybe gas-saving technics.  Here’s a simple breakdown of these terms.

Defi

Defi refers to a system by which codes written on blockchains make it possible for buyers, sellers, lenders, and borrowers to interact with each other rather than a company or institution facilitating a transaction.

NFT Collectibles

These are digital assets — they can take forms such as photographs, music, or video clips. Although people may be able to copy them, ownership of the original is encrypted and cannot be changed unless it is sold and the property is officially transferred to a new owner.

GameFi Technologies

GameFi refers to the financialization of video gaming. GameFi is a fusion of the words “game” and “finance,” just like Defi, or decentralized finance. In order words, GameFi technology is the creation of play to earn games in this context.

Gas Saving Technics

Gas refers to the fee required to successfully conduct a transaction or execute a contract on the Ethereum blockchain platform.
Shira inu token is built on ethereum, which is a blockchain notorious for its high gas fees, which leaves a rather bitter taste in the mouth of small-time investors. The Shira Inu dev team somehow has a solution for this.

To summarise, Shira Inu is a combination of Defi, Games, and NFTs. Shira Inu exists on the ethereum blockchain, but promises cost saving in gas fees.  In the end, they let us know that SHIRA INU is powered by Shibush Pack.

The website revealed that Shira Inu has three major projects/utilities it intends to launch sometime in the future. These utilities are;

Shiraswap

Decentralized Exchange, swap to SHR with highest standards of security. Think of Pancake Swap

Bazaar

Bazaar the marketplace is the spot to trade, buy or sell your NFTs. Think of open sea. This is where buyers sellers of NFT can meet and complete transactions.

Shr Gamefi

According to the Shira Inu dev team, “this part of Shira inu is going to stay in the Nest for a little bit.” Shr Gamefi however the native play to earn game of Shira Inu.

We also find out that Shira Inu has been listed on two CEXs (Centralized Exchanges) LBank and Hotbits.

This is a plus for Shira Inu. It sort shows that the developers are committed to the Shira Inu project. However, these are not top tier DEXs

Shira Inu’s White Paper

Shira Inu’s white paper is a downloadable 11-page pdf file. The white paper is well designed too. The whitepaper was all written in capital letters. I find that to be a strange way to write whitepapers. Most of the white paper is a repetition of what has been said on the website. I’ll however go into the things that we didn’t cover or things that were absent.

Tokenomics

As we said earlier, Shira Inu is an etheruem blockchain token. With a total supply of 1 quadrillion, for context 1,000,000,000,000,000,000. I have to say that this supply is ridiculous. If there’s no deflationary mechanism (which I haven’t seen yet) in the contract of this token, then this token is designed to be a forever meme coin.

There’s a 10% tax on each transaction. This is how the compulsory 10% tax is distributed (used). 8% from the 10% from tax is used for marketing. Which provides the cash that enables the dev team to promote the token to potential investors. While 2% is used as reflection. For those who do not understand what reflection is. Reflection is simply a reward mechanism to encourage holders of any token to keep holding. This means that, as transactions are being carried out in the Shira Inu ecosystem, holders share 2% of every transaction, making them earn passively while holding the token.


Also Read: Clifford Inu Review: Legit or Scam?


Market Cap and Liquidity Pool

Shira Inu currently has a relatively small market cap of $3,217,147.66. For a token that was launched in November, this is not an eye-popping market cap. This suggests slow and steady growth and slow and steady growth point fingers average marketing efforts.

Shira Inu has a decent amount of holders. According to Dextool.io. There are about
4228 holders of Shira Inu. This shows several people are not only believers but are also investors in the Shira Inu project.

Shira Inu’s liquidity is estimated to be worth $437,795.56. Shira Inu’s liquidity is locked in Uniswap V2 Pool. I could not confirm the time frame of the lock at the time of writing this review.

Developers of Shira Inu

Unfortunately, the Shira Inu developers are undoxed. From the small information gathered about Shira Inu so far, the project idealistically makes sense, even if I think it is not unique.  But for it to become more practicable, there’s is a need to know the developers and their background of the developers, take a look at Tsuzuki token, it sounded convincing, but it ended up being a big rug. Most developers are none techies who have no clue about what they are promising, they just want to make make money by establishing unsustainable that will eventually dump on late investors. Rinse and repeat. Another point worthy of mention is the fact that Shira Inu is powered by Shibush pack. I checked, and found out Shibush is the name of another token with undoxxed dev team. On their road map, they claim to have been registered.

Yet, I wasn’t able to verify this claim using the internet, I think the common sense thing is for them to provide proof that they have been registered, but that’s lacking and a worry. Them not being doxxed is a big red flag for me. I don’t know about you.

What investors are saying about Shira Inu

On isthiscoinascam.com,  this is what ‘supposed’ investors are saying about the token.

If you read carefully, you’d notice the last investor admitting to experiencing turbulence.

On YouTube,

It was positive comments except for one commenter, who goes by the name atlas eagle. Here is what he said.

Interestingly, Shira Inu is one of the very few tokens that own a YouTube channel. They conduct AMA’s on their channel, these AMA’s are strictly audios, they do not show their faces. It makes it look like the developers are determined to be anonymous. Like they are hiding.

The above comments suggest that the last comment from isthiscoinascam.com is true. Something negative has happened with the token prior.

Conclusion

I do not want to categorically call this token a scam, I think that will be too harsh. It however has areas that make it suspect. The techrate audit report seems to have been doctored. There’s no trace of Shira Inu on techrate’s website. I checked and checked and couldn’t find any. They should have directed potential investors to techrate’s GitHub account to download the report from there. Not embed it on their website. I like the fact that they didn’t (yet) lock their comment section on YouTube. That would have given it away as a scam. Again, the fact they claim to be an LLC, registered in the United States without showing any proof is a red flag. Shira Inu, however, has its positive side. For example, it listing CEXs. In my opinion, investing in this token is very risky. If you are an extreme gambler, it might be something you want to try.

If you enjoyed this review, kindly let me know what you think in the comment section. Also, you can share this review with your friends on social media, that will mean a lot to me. Check here for other interesting reviews for you.

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