Wolfi token is currently the highest gaining crypto asset in the world. The token has pumped 5000% in the last 24 hours. The curious thing about Wolfi Token is that it surfaced online in December, the token, however, just got listed on coin market cap and coin gecko a couple of days ago.
A pump of over 5000%, comes with great attention. It is, for this reason, I’m doing a review of Wolfi Token.
So, If you are looking to invest in Wolfi token, if you are just curious about the token, or if perhaps you have already invested in the project. This review was made for you.
Before we begin, you need to know that, “I’m not a banker or a financial expert. I will not be held responsible for your financial decision. It is totally important to fact-check the things I say and make your own conclusion. This article is just a guide. Consider it entertainment.” With that said let us get to know what Wolfi Token is.
What is Wolfi Token?
According to coin market cap, Wolfi combines the power of memes with real utility and charitability. It is an Auto-Staking, Community-Focused Deflationary Cryptocurrency with instant rewards!
To put this in simple terms, Wolfi describes itself through coin market cap as a meme coin that has an automatic staking functionality. For those of us who do not know what staking is. Staking can be described as a process that involves committing your crypto assets to support a blockchain network, (in this case, a token) for period rewards.
Wolfi Token Website
Wolfi Token’s website curiously begins with a ‘notice’ that has a tone of warning.
I do not know about you, but in books, a legit project wouldn’t care enough about FUDs to the extent of having such on its website. Away from that, the website is low effort or rather basic. The description begins by listing and explaining some of the features of the token. These features include Reflection, liquidity accumulation, burning, secure and safe, audited, and renounced contract. You can tell the above a just lies. The audit they claim to have undergone was done by an unknown entity. This token is so useless, I will not want to waste your time and my time talking about its tokenomics.
Wolfi On Tokensniffer
On tokensniffer, Wolfi is flagged for being a fraud and is rated 0%. On the surface, the indicators are good. With its reduced tax, renounced contract, original contract, and the lack of whales in the ecosystem. However, the liquidity present has been unlocked, drained stolen. This is a classic rug pull.
Here are some of the comments about this token on tokensniffer.
In conclusion, fraudulent developers are starting a new trend of renounced tokens being scams. A few days ago, MarkMeta Token rug pulled on investors with a similar setup. Investors need to put more things into consideration before they in shitcoins like this. One of the major things to consider is the liquidity lock time frame. Another is the identity of the developers and their careers prior to developing a token. This Wolfi token rug pull occurred because investors minored on these things and majored on ownership renouncement and what’s not.