The Mars Shiba token has pumped more than 5000%. It is currently the highest gainer on coinmarketcap.com. As I do sometimes, I have decided to review this token based on its position as the number coin on coinmarketcap. There seem to be FOMO around it that is making investor crazy about it.
This review is to help you see whether the token is worth the hype. And to uncover major scams, people without moral compass plot in the industry.
If you are about to buy The Mars Shiba or maybe you are just curious about it. You are in the right place. I have done all the investigation on your behalf. All you need do is to read through this article. Please, note that you can always do your research. I do not claim to be “Mr. Knowitall”.
Before I begin, here’s a an important thing you need to know.
First, I’m not a banker or a financial expert. I will not be held responsible for your financial decision or indecision. This article is just a guide. I’m not here to promote or disparage any coin, hell, I don’t even know their creators. I consider my analysis to be objective and fair. If you are not satisfied with the things I say, you can always do your research.
With that out of the way, let’s begin.
When I am checking a new token, the below are the things I look out for.
Developers behind the project
What people are saying about the
(If you are a frequent visitor of this website, you’ll know this is how I operate)
I will go on to explain the above bullet points, as it relates to The Mars Shiba in the coming paragraphs.
Before I do that. Let’s talk about the little ‘history’ of the token, coin of nature. According to coinmarketcap.com
“By simply holding TheMarsShiba Token, holders will earn $MARSSHIBA token. The longer you hold, the more you earn – it is that simple. Combined with our monthly manual burn $MARSSHIBA will become increasingly rare and more rare. MARSSHIBA Swap gives users the ability to provide liquidity, stake, and swap tokens to gain returns through our sophisticated and innovative passive income reward system. Our platform also allows to access upcoming NFTs and additional tools, such as portfolio trackers, to make navigating the crypto world simple.“
This token is looking promising. It looks like a serious project on coinmarketcap.com. It claims it has a DEX, that enables its users to provide liquidity, stake, and earn passive income. It also claims its platform is NFT centric. Although, I think its claim of rewarding its investor with $TMS, is nothing new in the industry. Many meme coins offer that and even more.
Let’s move to reviewing the website.
The Mars Shiba’s website is ugly. Absolute dross of a website. It looks like the website was handed to a 6-year-old to create. It is absolutely the worst website I have ever seen. Navigating Themarsshiba.com is like farming in the Sahara desert. It is tortuous. The website is littered with dead links and incomplete sections. It looks like an incomplete project. This to me is the first red flag. You can tell the developers were in a hurry to launch.
They lied about having a swapping platform (DEX). The Swap platform hasn’t been launched. They claim they will launch it in 2 weeks, after the creation of the token. The NFT project is the “big one, according to them.
TheMarsShiba White Paper
The first thing I noticed about the token’s website is the small font used. It is almost, like, they don’t want you to read it. Their choice of font size made reading the white paper cumbersome. This is another L. A white paper is an important communication medium. Them not handling it professionally, indicate they absolutely do not know what they are doing.
Reading The Mars Shiba‘s White Paper, you’d realize all the ‘projects’ they talk about are not launched. It is basically, telling like the SQUID token. They are just telling to buy meme coins and believe a project is going to come in the future because a faceless dev team on the internet believes in Trust, community, and whatever bullshit they said in that white paper. The white paper is littered with so many errors, I stopped counting.
For example, in the above screenshot. They said “you can view that here” and provided no link, whatsoever.
This means that the developers of this token are not detailed. They just want to put out something.
I can go on and on with the red flags.
But, let’s explore the market cap and liquidity.
Market Cap and Liquidity Pool
According to poocoin, The Mars Shiba has a market cap of $3,907,719. This is healthy. It indicates a lot of people are buying this token up. For a token that launched this month, this is an impressive market cap.
The liquidity pool is locked to a contract. We however do not know the nature of the contract. According to bscscanner, the contract is verified. This is seemingly cool on the surface. I however found out that one of the 5 liquidity providers that are unlocked has been involved in a rug-pull.
The below wallet address provided liquidity for VRA, a scam coin that rug pulled on investors in the past.
The same wallet address is providing the highest liquidity for The. Mars Shiba.
This is all you need to know this token is a scam coin, that will strike, when you least expect. I want to end this article here, because many are putting their money into this and maybe the world need to see this now.
But, let’s quickly review what people are saying about this token on Twitter.
What People are saying about the token
Already, people are complaining that they can’t sell.
The developers aren’t doxxed. This makes everything make sense. The developers don’t mean well for you.
Like I said earlier, this coin is not so well thought out scam. It has ticked all the boxes. Don’t be a victim of FOMO and another man’s greed. Avoid themarsshiba.
When you see this, share it, so many more people don’t fall into this ditch. You have a moral duty to do that.
If you enjoyed this review, you can check other reviews I have done here.