Maxi Doge: The Perfect Presale Red Flag?

Despite taking the top spot in a recent “presales to watch” list, Maxi Doge might just be the perfect presale red flag. Why? Read on to find out. 

What is Maxi Doge?

Maxi Doge, in fairness to it, is a memecoin scam that actually went to the effort to write a whitepaper, so it gets a little bit of respect for that. But that’s it.

Maxi Doge makes it very clear that memes are community-driven and powered by hype and speculation. Successful memes capture moments in internet history that reflect the interest of millions or billions of people.

Maxi Doge is a shredded shiba inu dog (doge) that likes to work out, drink caffeine, and trade. 

Unfortunately, this type of cynical cash-grab attempt, even if it wasn’t a blatant scam, is the type of activity that gives crypto a bad reputation that has plagued even legitimate projects for years.

Whilst you could argue that the website has covered every base a memecoin investor would want to see: tokenomics, roadmap, etc, there is so little in the way of reliable trust indicators that it is likely only the crypto-curious who would ape this presale. 

Anyone with deeper knowledge of crypto would wisely stay away, one can safely assume. 

Promises & Claims

• Buyers in the last 24 hours – There does appear to be an actual Maxi Doge contract address… that shows 5 holders. 

• Amount raised—The payment widget on the site claims over three and a half million dollars has been raised through the many-stage presale and that this is powered by “Web3Payments,” but this is difficult, if not impossible, to verify using on-chain data. 
• Presale secured by Web3Toolkit technology—this may just as well be a negative as a positive, as the Web3Toolkit website claims it empowers a user to “easily and securely launch a token in seconds.” 
• Available in Best Wallet—There is no proof that the Maxi Token is available in Best Wallet. In fact, how could it be, given that the presale has not yet concluded?
• Audited smart contract – No proof has been provided that this claim is true. 
• Token utility – the website claims that staking, contests, and partner events will combine to reward holders, but there is zero evidence of this being the case. The staking section of the website claims an 84% APY, despite staking not yet being live. 

What is the community saying?

Despite the plethora of paid-for press, and at least one crypto influencer shilling Maxi Doge on YouTube, community (and analyst for that matter) social sentiment is lukewarm at best. 

Most shares about Maxi Doge are via low-quality publications, and though the official account @MaxiDoge_ does post regularly, it has less than 5000 followers and low engagement on official tweets. 

Reply guys underneath every tweet are trying to grift promotional activity rather than adding any actual value, though some genuine users ask sensible questions like “wen presale end”?: 

Red Flags 

Wow, how long have we got?

Until the launch of Aster, 1000x leverage was something of a joke.

Why is there no info about the team? The whitepaper claims the developers are pseudonymous, but back it up with no supporting evidence… 

This is more than just red flags this is a red carpet of a presale. 

Social communities appear to be almost entirely botted and illegitimate. 

The website is not old, registered earlier this year, and marketing relies heavily on paid placements in poor-quality crypto PR websites. 

Despite claims at audits by, for instance, Coinsult, there is little reassuring to be found about this name as well. The same can be said for SolidProof, the other auditing firm Maxi Doge claims to have worked with. 

Launching on the Ethereum blockchain when there is no shortage of faster, more affordable Layer 2 scaling solutions, such as Arbitrum or Base is another head-scratcher from Maxi Doge. 

Legitimacy indicators

There aren’t any.

That’s it. That’s the section.

Questions to ask

Should any presale enthusiast find themselves presented with the opportunity to ask a member or members of the Maxi Doge team questions, the following would be a really good place to start:

• When will the presale end?

• Where will the token list?

• Has your smart contract *actually* been published?

• Has your smart contract *actually* been audited?

• Are comparisons to BONK & Floki Inu fair?

• What on earth does “vibe utility” mean?

• Are you able to substantiate the claims made in your sponsored posts?

• Is Best Wallet Token is also a scam?

• Is Maxi Doge Labs Ltd a real business?
• How did you get listed on Coingecko and CoinMarketCap?

There are probably many more good questions to ask as well, like “why did you think this was a good idea?”.

Verdict

If Maxi Doge actually launches one day, makes investors money, and proves not to be a scam, this writer will issue a formal apology in written and spoken slam poetry form.

Until then: TOTAL SCAM. AVOID!