Just when you thought investing couldn’t get more outlandish, I present to you yet another Shiba Inu. Meet Hanzo Inu. Yes, another Shiba story. Could this token be the one? Could this be the dog that eats all the others? This dog is Asian, just like me. This dog loves social media, just like me. This dog hates scams, just like me. Sounds perfect right? Read this:
“In a whirlwind of sakura pedals, Hanzo Inu was called into existence by his creators on May 6th 2021. He knew exactly why he was summoned.
Leaders in the Decentralized Finance (DeFi) realm had malicious intents and were taking advantage of their loyal supporters without retribution. Communities that once felt they could invest safely, were now left with feelings of confusion and mistrust from all the fraudulent schemes.
Being an honourable Samurai, Hanzo Inu knew he could not let the dishonesty and theft continue.
He vowed to work closely with his creators to build a safe space in the DeFi realm. A space where creativity and diversity are embodied by the community; and trust and transparency promised by their leaders.”Hanzo Inu Whitepaper
After reading these deeply moving and inspirational lines. I felt it my duty to invest in this project. No, this isn’t financial advice. This is wealth building in 2021. If you don’t like it, then check out some of these Cat currencies.
So let’s go down this to the dog pound and figure out what’s going on.
Hanzo Inu is a deflationary meme token that is based on a MMO (Massive Multiplayer Online) game and a social media application. And yes, it passes my smell test for buying these moonshot coins that will obviously make someone a lot of money, sorry, I mean bones.
Yesterday, I traded 3 Trillion Kishu Inu tokens for 1 Ethereum. So during the dog days of summer, I decided to become a dog catcher and try to find the next Dogecoin hiding in the proverbial suburbs of the internet. I laid out my approach to finding and catching the dog that will be worth thousands; indeed, I have a bone to pick (pun achieved) with these cryptocurrency projects. And I am confident that I will pick a bone that still has a little meat left on it.
A quick google search to coinranking.com, for “best meme tokens” will present you with a list of 42 of the finest meme coins in the world–and 25 of them listed on this page are based on dogs. Yes, 25 dog crypto projects. Woof woof. If you were to tell me last year I’d be writing an article today about investing in dog-based cryptocurrencies, I would have laughed myself into a group home for the clinically insane.
I really am starting to think that people have lost it.
So let’s do this. It’s a Friday after all–we all love dogs, that’s clear. Let’s pull the fur back and try to understand what’s really happening here. First of all, what is a deflationary token?
A deflationary token that decreases in total supply every time a token transfer happens. As with every transfer, a percentage of the transferred amount will be burned.
Hanzo Inu has an interesting deflationary approach = 5% Tax = 2% Redistribution + 2% Marketing + 1% Burn
Every time someone trades or transacts Hanzo Inu tokens, 2% of the transaction gets redistributed BACK to the other holders, 2% gets sent to a marketing wallet, and 1% gets burned. That’s pretty straightforward and when we do our due diligence we can see that yes indeed, this is happening. Over 3 million USD worth of Hanzo has been burned, and the tokens are getting redistributed.
Even more compelling about this dog, is that it just started. It’s in phase 1 of its moonshot. As I mentioned in the last article about these moonshots, getting in early is always better than bag holding at the end. I’m not suggesting that this is a clear rug pull, part of the idea for this token is that it is based on the fact that there are so many potential rug pulls out there–this one is the diamond dog in the dog pound, with locked liquidity to prove it.
Marketing, check. Liquidity, check. Trustworthiness, well, check. But we’re still at the beginning of this dog’s growth cycle, but based on the strong community presence on Telegram, Twitter, Instagram, and Facebook, this dog looks like it will certainly hunt. Are 50% of the tokens being held by the top ten? Nope. The “dog’s share” of the tokens are being held in the burn wallet, and thanks to the beauty of the blockchain, we can verify that as a fact as well.
With all of these items in place. I took my 1 ETH and swapped it on Uniswap V2.
The Hanzo Inu project has reached 20 million in market cap in the past and according to @HanzoInu from Twitter has settled to around 2 million USD. It has over 4,000 holders, and 3,000+ members in its Telegram channel. Aside from these numbers, the game that it will be based on will include in-game NFTs that will be tradeable–this is genius considering that the NFT space just seems to be getting bigger and bigger each day.
Hanzo Inu is also developing a social media application that will connect its users and allow them to trade the NFTs within and with other meme token projects that are out there. They have plans to be able to onboard other projects into the social media app–after the community itself has voted and accepted them as “Honourable.”
Stay safe out there! Invest well.
“The better I get to know men, the more I find myself loving dogs.”– Charles De Gaulle