The Save the Kids Token launched earlier in the month on the Ethereum network. After the Project’s antiwhale system was altered by Influencers and its Market value fell immediately after launch, among other things. These are all important issues associated with the Save the Kids token. This article will discuss the most pressing ones. Continue reading to find out more about its future. We are helping the children!
Influencers pump and dump their $KIDS tokens
Many YouTube “influencers” promoted the Save The Kids cryptocurrency token through social media and YouTube. The cryptocurrency token was widely considered to be “unruggable”, liquidity-locked for one calendar year, and protected from “pump and dump” schemes. It was even advertised by its creators as having transaction limits at 0.5% per transaction. This would make it difficult for large purchases.
After its September launch, the $KIDS token received a lot of attention. Fans were encouraged to invest by Rice Gum and FaZe Clan. Although Influencers were instrumental in increasing the value of $KIDS tokens, the token’s value plummeted shortly after its launch. Many people accused Save the Kids’ of pumping and dump. Some of these influencers claimed they didn’t know about the scheme and that they sold their tokens just before the big dump.
Mashable reports that the scammers pump and dump the altcoin’s price. These “influencers” didn’t report their activities to any agency. The result is that altcoin investors did not receive the promised reward. The scammers created fake accounts to increase the value of their tokens. These tokens were then dumped and sold for huge profits.
Although cryptocurrency is slowly becoming accepted in mainstream society, its true value isn’t regulated or regulated. An esports team called the FaZe Clan launched the Save the Kids cryptocurrency. Four members were suspended by the organization for their promotion. They released an apology video later, claiming they were innocent. The team members were fired from their jobs.
Project’s anti whale system was modified
EverGrow uses an anti-whale program that restricts sales to 0.125% of the total circulating supply. EverGrow plans to create a variety of products within its Ecosystem. This includes the Binance smart Chain-based NFT Marketplace and the Content Subscription Platform. The Project team recognizes the importance utilities. This is why they have changed the way that they sell their crypto assets.
After launch, $KIDS tokens’ market value plummeted
The $KIDS cryptocurrency was launched in May. It is a crypto charity project. FaZe Clan founder Xavier Banks marketed this altcoin. It rose in value following his promotion but plummeted 90% after investors sold off. $KIDS was advertised as a charity token and promised to redistribute the wealth. Altcoin was popular because of its similar concept to BankSocial.
Investors criticized Save the Kids founders for encouraging investors to invest. FaZe Clan and RiceGum were among the people who encouraged investors to invest in crypto currency. The result was that pre-sale tokens were in large numbers and led to accusations of scammers and pump and dump. Brand ambassadors for the project also had to deal with a PR crisis.
With a total supply amounting to 1 billion tokens, the altcoin was initially launched. Initial statements by its operators stated that ambassadors were not paid for their efforts in promoting the cryptocurrency currency. Ambassadors were instead given tokens at a discounted rate by other buyers during the pre-sale. This strategy, while it is an effective way to promote cryptocurrency, has not been successful in this instance.
The most popular crypto currency, cryptocurrency, has no regulatory authority. This makes it difficult to judge their reliability, despite their popularity. There’s a high chance you will be scammed, even if you have a well-known person in the cryptocurrency world. It’s embarrassing to lose money in a scam. This is evident in the Save the Kids altcoin.
Save the Kids token Issues
FaZe clan members were accused of using YouTube videos to promote the cryptocurrency Save the Kids. Kay Khattri, a former member of FaZe clan, is accused of supporting a sale of the Save the Kids cryptocurrency coin that was meant to raise funds for charity. After the cryptocurrency was launched, its value plunged, leaving early investors with little choice but to withdraw their capital. The cryptocurrency did not meet its goals and failed to raise enough funds to support the charity.
Although the anonymous Save the Kids owner directed a developer change the anti-whale codes, he didn’t reveal his identity. This could indicate that he may have unknowingly deceived a lot of people. The FTC may take action against crypto token promoters. However, the SEC might have difficulty enforcing securities laws regarding altcoins. However, even if the Save the Kids anonymous owner is not responsible for the issues that he caused he could still be subject to civil litigation.
After the Save the Children cryptocurrency launch, the FaZe clan and prominent YouTubers were expelled from the project. Jarvis Khattri was banned, as well as Nikan Nadim. Ray, along with Bryan Quang, were also expelled from Save the Children charity. They have also been accused of fraud and their videos have provoked a backlash against esports videos.
It was criticised for manipulating its community by its founders. The name “Save the Kids”, which was also very similar to the logo for Save the Children, was also criticized. This made the project susceptible to a contaminated marketing campaign. This resulted in lower prices and a higher level of distrust from consumers. Online detectives even reveal the identities of those involved in the presale.