There’s a new altcoin on the loose, and it’s breaking all of the rules. Australian Safe Shepherd (CCC:ASS-USD) is a meme token so unabashed in its lack of utility that it’s pulling in investors left and right. The details behind it are ridiculous. Read on about the hyper-volatile token and decide for yourself if you’re in on the joke or if it’s a waste of your time.
ASS is the product of the mid-April altcoin boom. Since Dogecoin’s (CCC:DOGE-USD) unforeseen bull run then, a countless number of tokens and coins are popping up; some have a legitimate utility and some exist only to out-meme the pack. Australian Safe Shepherd has made it very clear that it is of the latter group.
The coin has a 200 sextillion maximum supply. It has no use at all. In fact, the website has a crudely drawn “white paper” and “road map” to emphasize its goal is simply to head to the moon. As a reproduction of the highly controversial SafeMoon (CCC:SAFEMOON-USD), it takes on a similar liquidity pool model. Sellers pay a penalty fee of 10%; half goes to holders while the other half goes to the pool. Other than in gathering value, ASS investors can spend their tokens on some very racy NFTs, but nothing else.
The Australian Safe Shepherd ($ASS) Crypto
The token is the product of Canadian-based developer “Crypto Liv.” Liv lifted the $ASS protocol from SafeMoon right as it began its own upward climb, and advertised the token almost exclusively with memes. Now, with support from the likes of musician Hudson Mohawke and Barstool Sports’ Caleb Pressley, it is picking up serious steam. The token is currently up a gigantic 623%, with a trading volume increase of over 3,800%.
The ASS story is bizarre, it’s impressive, and it’s unprecedented. Investors are jumping onto the wagon just for the sake of pushing the coin to the moon and to hopefully make some money in the meantime. There are a number of red flags with the token, however. With that in mind, investors should tread extremely lightly with this altcoin.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.