ShibaDoge

Purpose and Utility

ShibaDoge is a meme cryptocurrency launched in December 2021 that combines elements of two popular meme tokens - Shiba Inu and Dogecoin. The project claims to focus on building a community-driven ecosystem with NFTs and decentralized applications.

Business Model

The token operates on the Ethereum blockchain as an ERC-20 token. The project collects a small transaction fee that is used for marketing, development, and token burns. While the project's primary utility appears to be trading and speculation, there are no inherent elements that would make it non-compliant from a Sharia perspective.

Real-World Adoption

The token primarily sees trading activity on decentralized exchanges like Uniswap. While actual utility beyond trading remains limited, this does not impact its Sharia compliance status.

Platform Development

Development activity appears minimal, with most updates focused on marketing and community engagement. The project maintains active social media presence but has limited technical development.

Token Distribution

The initial token distribution included a fair launch with no pre-sale. The contract shows no unusual concentration of tokens among founding addresses. There are no lending or interest-bearing components in the token's smart contract.

Revenue Model Analysis

The project's revenue model is primarily based on transaction fees and potential appreciation of token value. There are no interest-bearing mechanisms or gambling elements in the core protocol.