What Is KangaMoon and Is It a Scam? Reviews, Opinions, and DYOR
KangaMoon has caught the attention of the crypto community with its ideas. But is this project legit? Let's find out.
KangaMoon Overview
KangaMoon is yet another new memecoin that assures its revolutionary nature. According to the project's official website, KangaMoon is not just a funny coin, but an entire ecosystem of Kangaverse games, NFT and community.
At the moment, the memecoin is in one of the last stages of presale, having raised almost $7 million dollars. Why one of the last stages? Because the creators pulled a clever trick to keep the fundraising going. And while the coin is preparing for its listing on exchanges, here's what we can say about it.
KangaMoon Reviews and Opinions: X and Reddit
The initial review of comments under KangaMoon's X posts gives the impression that this crypto project has been hit by a bot invasion as well. We don't say this for sure, but when 90% of comments are requests for collaboration from different accounts, that's exactly that comes to mind. Well, bots on X are Elon Musk's personal curse.
The accounts that seemed real to us mostly spoke positively about the project. But is that what we're here for? Don't worry, we'll still find a fly in the ointment.
So, KangaMoon announced the other day that it will soon be listed on BitMart. Both parties have confirmed this fact. And due to this event, the team decided to extend the last phase of the presale, calling it a bonus one. By the way, this is something that was not in the team's plans, according to the roadmap. And of course, users were enraged:
Users are losing patience:
And this comment seemed interesting to us, so we decided to dig deeper:
Reddit users were more vocal. One of them did his own research (let's applaud him for that!) and presented some curious insights. Foremost among them was the idea that the project was originally a scam, but after seeing how popular it was quickly becoming, the developers decided to actually launch it after all. Something similar was written in the comment above.
Other suspicious signs were problems with navigating to the purchase page and unclear answers from the support team, as well as the team ignoring simple but important questions from the user. In addition, the commenter checked the site for scams, and the scores disappointed him. Overall, he, like many others, had a double feeling about KangaMoon. And if the project turns out not to be a scam, he will still get rid of the coins immediately after listing.
There remain those who believe in KangaMoon while others lose their money.
One commenter wisely pointed out that the KangaMoon team is only marketing to pump up the coin. He also emphasized that the lack of gaming in the KangaMoon ecosystem is suspicious. The project does position itself as an ecosystem with P2E games and NFT, but the project has neither. Wouldn't it be logical for the team to create a game and attract interested users, before introducing cryptocurrency and conducting an ICO?
Don't think we're being too picky about this. But when a team goes on and on via their social media and paid articles detailing how good their game is, but doesn't make the effort to release it, it does raise more suspicions. And fundraising for a coin that may in fact turn out to be useless looks like brazen begging.
Community, Website, and Social Media Accounts
The project has accounts on X and Telegram, although according to the whitepaper there should also be Discord. Most likely, the team decided to abandon the launch of the latter, obviously failing to recognize that they will have to answer troublesome questions from the community.
In addition, there is an official site where the token presale takes place.
The Telegram channel has more than 17,000 members. Meanwhile, the official X page has 23,000 subscribers. Community activity is quite high, especially in Telegram. The project team selectively answers users' questions. And this is quite normal. Putting all the cards on the table is poor marketing.
Still, several commenters on X and Reddit pointed out the team's suspicious activity on Telegram:
Many users find that the team blocks them on Telegram after they've done what they were supposed to do: ask for important details about the project. It's not very nice to do that to those who believed in your project and paid for it.
KangaMoon Founders and Investors
The official website features several founders hiding under nicknames and kangaroo avatars. At least something, unlike most similar projects that don't reveal their team identities.
We now know that KangaMoon has a CEO, Underboss, The Brains, and The Gypsy King. But that only gives us an imaginary trust. However, we don't rule out that there are many good reasons why project creators choose to hide their identity, so score:
KangaMoon Tokenomics
With a total supply of 1 billion KANG, the team plans to distribute its tokens as follows:
- Presale — 60%;
- Development and in-game rewards — 15%;
- Earnings and rewards — 10%;
- Marketing — 5%;
- Team — 5%;
- Buybacks and liquidity control — 5%.
KangaMoon is still in the presale stage, and no one knows when it will end. The team had plans to hold five rounds of presale, and by now the final one should have ended. After that, the token was supposed to be listed. However, quite unexpectedly, the developers decided to introduce a bonus round of presale, which angered the community. Some even joked that no sooner the first bonus round would be over than the team would announce the second bonus round and then the third. And so it will go on until the team, hiding under kangaroo avatars, gallops away with the money in the bag.
And while KangaMoon seems to have announced an imminent listing on a centralized exchange, it may just be dust in the eyes to gain more trust from users.
Bottom line: Is KangaMoon a Scam or Not?
KangaMoon is a typical memecoin project at the ICO stage. It positions itself as "one of a kind", however, you can argue with that. There are plenty of P2E games in the cryptocurrency market with a fun token at the core. Or did the creators have something else in mind by "one of a kind"? For example, a way to scam?
Time will only tell what outcome awaits KangaMoon and its community.
