SHIBADOGE, the latest NFT Token, a Gem or a Scam? 

SHIBDOGE is a new NFT Token using the Meme Coin Hype

As all traders know, the easiest and fastest way to get rich off of cryptocurrency is to buy into a token before it gets popular and watch your investment go to the moon. After all, the fact that a $100 investment into DOGE or SHIB a few months before they blew up could have turned into thousands is enticing enough that many new investors fall victim to rug pulls and loose all of their investment. Today, a new token that is trying to use the Shiba and Doge hype train is trending on CMC called SHIBDOGE, claiming to be a “community driven token created by Shiba & Dogecoin whales coming together for the greater good of both communities.” Is this a small-cap gem or a rug pull?

First, to answer this question we can take a look at their website. Usually real tokens will dox their developers or creators and since they plan to be around for the long run will create a nice looking and complex website. SHIBDOGE’s website is not that good and there is no indication about who exactly created it.  They do have a CERTIK audit which is a pretty good sign.

Also, a lot of scam coins will make a good looking roadmap and to make sure they never get called out for not delivering on their promises, they divided by “stages” or phases instead of setting a time frame for when things will get done. The creators of SHIBDOGE have done the same, dividing the plan into 4 stages instead of setting time frame which is also a bad sign. 

They claim to have 5% locked liquidity which is a good sign with 5% of fees going to redistributions and 5% to marketing. The taxes are on the high side especially for a token with no development but it’s not that bad. 

SHIBDOGE Site

Overall I personally would be careful when investing in this token. Their website is very similar to other tokens that turned out to be rug pulls like Santa Coin, which we predicted, but they do have a CERTIK audit and relatively good tokenomics so this may not be a scam but there is also a good chance that they are a scam coin so buy with caution!

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Ali F
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