Since the day Dogecoin (DOGE-X) has jokingly joined the crypto market, the memecoin trend has caught considerable attention in the blockchain universe. DOGE was followed by (SHIB-X) (“the anti-DOGE”, as the founding team labeled the project), and more memecoins have joined the race, day after day.
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While keeping a neutral point of view, this review will present the BabyShibaCoin project. Considering the ongoing nature of the initiative, we report the main details known to the market in the article. In the future, we will keep an eye on the project, looking for potential updates to give the readers.
What Is BabyShibaCoin?
BabyShibaCoin (BHIBA-X) is a new initiative aspiring to conquer a special place in the meme coin niche of the crypto market. The following sections summarize the main features of the project:
The Token
BabyShibaCoin is an ERC20 token with a total supply of 420 million samples. Of the total amount of coins, 40% have already been burned before the official market launch. The project’s tokenomics is declined as follows:
- Burn Wallet (before launch): 40% of the outstanding coins
- Burn Wallet (after launch): 3% of the liquidity
- Liquidity Pool: 30% of the supply
- Private sale: 3% of the existing tokens
- Presale: 30% of the coins
- Team: 3% of the liquidity (which is locked on Pinksale).
Each transaction on BabyShibaCoin comes with a 5% tax, which goes to Marketing, Development, Team, and buyback funds.
The Goal Of The Project
According to the project team, BabyShibaCoin wants to target Shiba Inu (SHIB) fans and investors, aiming to reach 10% of SHIB market capitalization. Considering that, at the time of writing, SHIB market cap was above $15 billion, the goal is certainly an ambitious one.
To achieve such a target, the project team claims to have a massive marketing wallet, ready to be used in order to spread the rumor about this new initiative.
Audit & KYC
InterFI has run a smart contract audit on the project; this is a typical check that involves most projects in the crypto world. The audit aims to verify that smart contracts do not have any technical bugs that may influence the stability of the project. InterFI completed the test and promoted BabyShibaCoin on this aspect.
Another routine check in the blockchain world is the KYC process, which basically aims to introduce an identity verification layer in the process on the developers. While some crypto projects purposely choose to keep the anonymity of their core team, this is not the case for BabyShibaCoin.
Disclosing the team identity to Pinksale is a choice that generally provides the market with a further guarantee of a project’s seriousness in the blockchain world. If any of the KYCed project’s team scams the community (e.g., following a rug pull method), their name will be publicly revealed to the public by Pinksale.
Once the identity of the developers is known, any investor can file criminal charges against them.
The Project Roadmap
The project launch will follow a roadmap divided into three steps, as summarized below:
Phase 1 – Birth
Currently, the project is going through its initial phase, labeled “Birth”. As already mentioned, the project’s backbone is ready, with audit and KYC processes being completed.
The initiative’s official website is live, and the community is set to reach 1,000 members on the Telegram official group. Following the meme development, BabyShibaCoin will officially be born, with the pre-sale operation opening on January 15th.
Phase 2 – Crawl
Leaving the preliminary phase behind, the project will move into the “Crawl” setting. The token will be listed on CoinMarketCap and CoinGecko, and the community will reach 5,000 members on Telegram.
The project’s team aims to achieve 5,000 token holders, and, following an influencer marketing campaign, a third-party audit will be performed.
Phase 3 – Walk
Finally, the “Walk” phase will be the last act of the initial project launch. By then, the team expects to reach the 15,000 token holders milestone (with, at the same time, 15,000 telegram members).
The team expects to complete airdrop operations, and, possibly most importantly, the initiative will start allowing the creation of non-fungible tokens (NFTs). Last year we saw a spike in the popularity of NFTs in the blockchain universe, and 2022 will likely see a continuation in this trend.
Final Thoughts On The Initiative
BabyShibaCoin wishes to have success by learning all the lessons from DOGE, SHIB, and other memecoins. Beyond the joking atmosphere surrounding the meme culture, the project presents itself as an audited and KYCed initiative.
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