Is Monkeys Token Legit?(4 Steps Guide)

Monkeys Token, a decentralized community driven by a passion for Elon Musk’s ‘Twitter List feature and all things primate-related, has garnered attention in the cryptocurrency market. With its aim to engage with Elon Musk and leave a global mark through billboards, Monkeys Token seeks to harness the power of social media and meme culture.

In this article, we delve into the legitimacy of Monkeys Token, exploring its features, market data, and community-driven strategies.

What is Monkeys Token

Building upon the inspiration of Elon Musk’s Monkey List, Monkeys Token has emerged as a speculative addition to the cryptocurrency landscape. With a total supply of 500 billion tokens, Monkeys Token sets itself apart by its circulating supply of 388 billion tokens.

In fact, 112 billion tokens were sent to Vitalik Buterin’s wallet and subsequently blacklisted to prevent selling or transfers. This deliberate action has created an intriguing dynamic, igniting the imagination of investors and paving the way for the growth of a vibrant community.

What makes Monkeys Token exciting is its potential for virality. With its catchy and meme-able symbol #MONKEYS, it has the potential to become the next 1000x gem. Similar to other successful tokens such as Floki due to its 1.7m dollar market cap at the time of writing.

Overall: Is Monkeys Token Legit?

If you are interested in this new crypto token, it is also essential to do your own research(DYOR) before investing in it.

The total crypto market covers thousands of coins and every day a new crypto token seems to show up. Also, many of these new projects are scams where founders introduce new coins and run with the money of investors afterward (rug pull).

To help you out in finding legit crypto tokens, I developed a 4-steps guide that can help you by examining starting crypto coins. In short, it will perform the following steps:

• Coinmarketcap – Check market listings, community posts, and social media channels
• Telegram / Twitter – The number of followers and user engagement
• DexTools – Check ETH contract address and DEXTscore
• Etherscan – Check ETH contract address, holders, and transactions

All data will be collected, calculated, and analyzed including screenshots. Finally, I’ll try to give this a score at a rating between 1 and 5. You can use this score as a foundation for making reliable investment decisions according to Monkeys Token.

Remember, that this check was performed at the time of writing and things may have changed in the future when you are reading this. Therefore, I recommend you perform the steps explained in this guide as well. Let’s go 👍.

Is Monkeys Token a Scam?

As explained earlier, I’m going to perform some steps to find the answer if this brand new crypto token is legit. The simple steps to follow are:

Step 1: CoinmarketCap

The very first thing to check if a new project is legit is to go to the famous website Coinmarketcap.com.

In short, CoinMarketCap.com is a renowned cryptocurrency website that provides real-time data and information on thousands of digital assets. In addition, it includes their market capitalization, prices, trading volumes, and rankings.

With millions of monthly visitors, CoinMarketCap tracks a vast number of crypto projects and is owned by Binance.com, one of the largest cryptocurrency exchanges in the world.

Below are the steps for Monkeys Token on Coinmarketcap:

1. Login or create a new account at Coinmarketcap.com
   
2. Confirm e-mail and make sure to login at Coinmarketcap
3. Go to the Monkeys Token page of Coinmarketcap
4. Check if the Community is very active by choosing Latest Posts
   
5. Check current rank, website(url), watchlists, and Ethereum contract
   
6. Finally, check the listed exchanges under Markets tab
   

After performing the steps mentioned above, I come to the following conclusion about Monkeys Token:

📑 ETH contract address: 0x20cdecbf5d56870b4068a255580a58d068446c92

✔️ Medium.com account

📣 Twitter account (10K+ followers)

✔️ Working website url

📊 Listed in 4 market places

Overall score: 5

---

Step 2: Telegram and Twitter

The next step will be to check their most active social media channels like Telegram and Twitter. To do this just follow the links on their profile page on Coinmartketcap.

First below is a screenshot of their latest Tweet and the level of engagement from their followers:

Consequently, I found a link to their Telegram channel. Just click the link to join and see what we will find here:

Also, I want to know what the community is doing or talking about. Therefore, I’ll join the channel by performing some verification steps to access it. After verification by the Telegram Safeguard bot, I can read and also participate in the main chat.

A good idea is to check in the search bar for the phrase ‘scam’. When I do this a short history of this chat shows up, where people are warning each other.

Below is the score for the findings on social media channels:

📣 Twitter following	10K(+)
📣 Telegram members	4235 members
❌Recent messages containing scam	Yes

Overall score: 4

---

---

---

Step 3: DexTools

To find out if Monkeys Token is legit you can also visit and use some DeFi tools like DexTools.io.

In short, DexTools.io is a popular DeFi website that offers a range of tools and analytics for decentralized exchanges (DEXs). It provides users with valuable insights, such as real-time trading data, charts, and liquidity analysis, to assist in making informed trading decisions within the decentralized finance ecosystem.

Below are the steps for Monkeys Token on DexTools:

1. Visit the url DexTools.io
2. Above in the search bar paste the following contract address: 0x20cdecbf5d56870b4068a255580a58d068446c92
   
3. Click on the first search result
4. The MONKEYS/WETH trading pair shows up
5. Check liquidity, volumes, and pools on the left
   
6. Also, below check the DEXTscore of this project
   
7. Finally, check if there are recent orders in the trade history
   

Below is the score for the findings on DexTools:

DEXT Score	99/99
Liquidity	$708K
24 Volume	$91K
Pooled WETH	188
Pooled MONKEYS	17.5 Billion
Total marketcap	$10.10 Million
Recent trades	Yes

Overall score: 5

---

Step 4: Etherscan

The final step to examine if Monkeys Token is legit can be done by using Etherscan or ETH Explorer. Etherscan is an online tool primarily used for exploring and analyzing the Ethereum blockchain. It allows users to view transaction histories, check wallet balances, and explore smart contracts.

To verify ETH contract addresses on Etherscan, users can search for the specific contract address and review the contract details, including its source code, compiler version, and verified contract status, providing transparency and assurance of the contract’s authenticity and functionality.

Below are the steps to explore the Monkeys Token smart contract:

1. Visit the url Etherscan.io
2. Above in the search bar paste the following contract address: 0x20cdecbf5d56870b4068a255580a58d068446c92
   
3. The Monkeys Token symbol contract appears here
4. Click below on the Info button and read the description
   
5. Next, click above on the link that goes to the Token Tracker Page
   
6. The token contract(for Uniswap) loads and shows all details according to holders, transfers, DEX trades
7. Click on the several buttons to measure activity

Below is the score for the findings on Etherscan:

Number of holders	9151
Total transfers	43978
Percentage largest holder	22,4%
Latest transaction	3 minutes ago

Overall score: 5

---

Conclusion: Is Monkeys Token Legit?

To measure if the Monkeys Token crypto project is trustworthy you can use this 4-step guide to give you some clarity. According to the steps performed above we can conclude that it is very unlikely that Monkeys Token is a scam.

In short, the following steps and checks were taken into consideration:

• Coinmarketcap page of Monkeys Token
• Social media channels(Twitter & Telegram)
• DexTools(DeFi-scan)
• Etherscan(Blockchain and smart contract check)

All in all, the total trustworthy score for Monkeys Token is: 4.75

Recommended: Buy Monkeys Token with Trust Wallet

---

📣Important: List of top Crypto Projects

🎁 Swapzone: Find the best crypto offer

🚀 Bitsgap: Best Automated Trading Bots

💲 Nexo: Reliable Crypto Lending Platform and get $25 free Bitcoin

***To be Profitable in the markets

---