Sonic Inu is one of the most successful tokens as things are currently on coin market cap. The sonic inu token has pumped up to 600% in the last 24 hours.
600% might not seem like much, however many meme coin observers and marketers on coinmarketcap and Twitter are tipping Sonic Inu to do even crazier numbers as more people get to know more about the token. It is based on this I picked interest in this token. Also, because of the many scams rife in this space, I have decided to do a review of this token. So, if you are looking to invest in this token, or maybe you are just curious, this review is for you. But before we begin this review, you need to know that, “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’s go!
What is Sonic Inu?
According to coinmarketcap.com, “sonic Inu is a project built on the binance blockchain, it is driven to be the best community-based meme token; you can also believe that Sonic Inu belongs to the community and developed with community growth. We also believe that Sonic Inu will be the future of meme coin, by developing it into a DeFi platform that investors can swap and farm or staking on it. We took Sonic, the Hedgehog, as an inspiration because he stands for peace and commitment to defeat evils throughout times. Also, Sonic is a childhood fiction icon to all people around the globe, to all Sega, Nintendo gamers.”
The above description tells us that the token is a meme coin that will be driven by its community. The token was inspired by Sonic a game developed in the 90s by sega. One of my little dirty secrets of discovering potential scam coins is to do small Reddit background checks on them. I typed in the name of this token (that is, Sonic inu) and added Reddit to it. I discovered that there was/is another token named Sonic, that appeared online last year. But that token died a natural death. However, I do not know if the developers of that project are the same as this one.
Sonic Inu’s website
Sonic Inu’s website is a simple one. I’d agree with anyone that calls it average-looking. The description begins with the below statement.
“Sonic Inu. The fastest token you knoww”
The about section reveals what we already know about the token from coinmarketcap.com.
Sonic Inu’s Tokenomics
Sonic Inu has a total supply of 100,000,000,000. For a meme coin, this supply is reasonable. With its hyper-deflationary feature, the token is designed to gain more value as time pass. Like many tokens, Morie Inu adopts a tax system. These taxes are supposed to fuel the growth of the Sonic Inu ecosystem.
On every buy and sell, investors pay a 2% tax, according to the website. These taxes are small, compared to other tokens. Here’s how the tax is distributed. 1% goes to the marketing wallet. While the remaining 1% is directed to the liquidity wallet
From what I see, the developers of this token aren’t many talkers, because the whole website and whitepaper are not as bulky as other tokens.
Sonic Inu on Tokensniffer
According to token sniffer, Sonic Inu is safe. The contract checker rates Sonic Inu 100%, at the time of writing this review. This means that the token has no downside. In tokensniffer’s own words, Sonic Inu’s ownership has been renounced or the source does not contain an owner contract. All holders of Sonic inu possess less than 5% of the circulating token supply. This means that the token doesn’t have whales in its ecosystem. The liquidity is locked till October 2022. You, however, have to bear in mind that tokensniffer can be wrong sometimes. I have seen tokens initially score 100% and still pull a rug on investors. However, that occasionally.
Sonic Inu’s Market cap and Liquidity
Sonic Inu has a very small market cap. According to poocoin.app, Sonic Inu’s market cap is estimated to be around $299,000.
Again, the value of the liquidity pool is $64,000. There are about 2400 holders of this token, at the time of writing this review.
Developers Behind Sonic Inu
The developers behind this token are nameless and faceless. I know some people see nothing wrong with this, but to me, this would always be a red flag. Yes, I get that sonic inu token is seemingly renounced. But, being doxxed gives investors another level of confidence. It also tells investors about the type of characters that are behind the token, their experience level, and their level of expertise.
What Investors are saying about the Token
I was only able to see comments about this token on coin market cap. Here’s a screenshot of what has been said about the token.
In conclusion, Sonic Inu seems to be a good token. Tokensniffer rates it highly, and you can see that the developers aren’t promising you heaven and earth. I think the token is genuine. It still has a very small market cap. On Twitter, I see it is trying to transition into a move-to-earn project. It’s a token I think is worth keeping an eye on. If you decide to invest in this token, put in what you can afford to lose.