What is Spook Innu (SINU)?

Launched on February 17, 2022, the Spook Innu is a Shaba Innu-themed Meme token built on the Finance Intelligent Chain. Like most meme tokens, the Spook Innu is a community-powered coin with a mission to “break down barriers of opportunity” by providing generous incentives to holders.

Spook Innu is looking to create a user-friendly platform that enables potential currency holders and investors to explore, research and achieve financial freedom.

Some features of the tokens include their unique decentralized exchange called Spook Swap, enabling holders to gain liquidity arguments by offering liquidity on the platform. It is worth noting that the Spook Swap is not yet available and is currently under development.

When it comes to Spook Inu tokens, the project features a rebranding function, which means that the token supply is dynamically regulated through an algorithm to keep markets healthy. According to the white paper, rebates will be rare and will be executed on a small scale, not causing massive fluctuations.

Moreover, Spook Inu is looking to create a collection and NFT market, offering further benefits to the token. Last but not least, Spook Inu will also showcase their unique portfolio, making it easy for traders to store and exchange their SINU tokens.

 

Why is the SINU price rising?

According to their Twitter, Spook Inu is the number one trending currency on Crypto.com. However, we could not verify that information and Spook Inu is not listed on the stock exchange. It is unclear why Spook Inu would claim such an easily falsified statement.

Looking at the distribution of holders in bscscan, some very disturbing numbers indicate that the two addresses hold over 550% of the token supply.

That’s right, 550% of the token supply. The odd numbers are due to the Spook Inu reset algorithm, which constantly adjusts the supply.

The two red flags, including the fake Twitter statement and the ridiculous distribution numbers of the holders, should make investors wary of buying this land.

The most likely reason for this is the rebranding algorithm which can dynamically adjust the supply and adjust the number of arguments in each person’s wallets.

 

We recommend that you proceed with caution regarding this sign due to the above information. Moreover, this sign does not contain a minimum applicable product is another reason for concern.

Disclosure: This is not trading or investment advice.

The concept of meme token has become one of the most talked about investment opportunities in crypto space, with the 50,000,000% price of shiba inu winning in the last 12 months, serving as a reminder of the potential benefit of these coins inspired by internet trend.

And while the great positive potential of these seemingly innocent assets and their animal-centered mascots is hard to ignore, it is important to note that investing in meme tokens is an incredibly risky venture and can often result in massive losses through fraud, hacking and exploitation. Not to mention, the usual losses caused by jumping in a wheelchair for fear of losing and seeing your new investment fall while the meme crowd moves to other shiny objects are also concerns.

Also Read About: What is HOKK Finance?

So the question is, how do you invest safely in these arguments?

  1. Learn how to distinguish between trustworthy and fake meme tokens

Before we begin to detail the key features to look for in a reliable meme token, let’s first define the concept of the meme token itself. Introduced in 2013, meme tokens are typically crypto-projects built around themes and meme-worthy animals.

For example, doge coin (DOGE), the first meme token, was inspired by the Shaba Innu meme sensation (a breed of hunting dog developed in Japan) (a picture of a seemingly hilarious Shaba Innu dog) that first swept the internet of the years 2010.

Notably, the success of doge coin spawned a host of other dog-themed currencies, including the self-proclaimed doge killer (Sheba in or SHIB) which briefly surpassed the first in terms of market capitalization earlier this year. Unlike traditional crypto currencies, meme currencies are usually not judged based on the usefulness they offer users.

Instead, more emphasis is placed on the currency’s ability to attract high community engagement. Basically, virility is the single most important factor required to evaluate the success of meme currencies. With that in mind, what can you do then to identify credible and counterfeit meme tokens?

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