The founder of memecoin Shiba Inu, who goes by the pseudonym Ryoshi, has left the project. This was inferred from his latest online activity. Ryoshi has deleted all his tweets, and blog posts, including the first one titled ‘All Hail the Shiba.’
History of Shiba Inu and Ryoshi
Shiba Inu or SHIB is a memecoin created in August 2020. After it was created, Ryoshi sent 50% of all SHIB to the founder of Ethereum Vitalik Buterin. When Buterin received the coins, he donated them to worthy causes, as well as burning 410 trillion SHIB. Besides SHIB, Ryoshi also created LEASH, which is a crypto coin within the Shiba Inu ecosystem.
According to a medium post, Ryoshi stated that “I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards frens.” In another post, Ryoshi stated that “Every Shibarmy is Ryoshi. It does not represent someone, but the glory of Shibarmy!.”
Since making the posts, all the medium blogs have been removed from the platform. His Twitter profile was changed to an image of Buddhist Jetsun Milarepa, a renowned Tibetan poet, and yogi. His header picture on the microblogging site has also been changed to a half-moon above a cloud. His Twitter bio previously stated “SHIB and LEASH Founder. We Do it for teh ppl.” The bio is now empty, along with all tweets associated with the profile.
The Future of SHIB
While the founder of SHIB has left the project, it was not as part of a rug pull. Its lead developer Shytoshi Kusama published a medium blog, in which he reiterated his commitment to taking the project forward. Kusama stated that Ryoshi’s ethos to remain anonymous, and have no input on the future of SHIB, would make their mythos even more impressive and mystic. He noted that SHIB from nothing, it had never paid an exchange for a listing, and was revolutionizing the concept of memecoins through exponential growth.
How the Community Reacted
Initially, some thought it might be a scam. However, thus far, there has not been any attempt by Royshi to disprove that these statements were not his own. Besides that, others working on the project, such as the lead developer have already confirmed he has left the project.
Despite him leaving the project, the community does not seem worried. The easiest way to confirm this is by checking the price of SHIB. If the community had any fears, its price would have dived. However, the price has risen over 3% in the past 24 hours, despite the current market downturn.
However, SHIB is still down a huge 86% from its all-time high of $0.00008616 in October 2021. However, checking over 12 months, SHIB is up 54% from the same period last year. This is something that other coins in the crypto markets cannot claim.
What the Future Holds for SHIB
The future of SHIB looks good, thanks to its strong community that firmly believes in the project. Even without its founder, its ecosystem will most likely continue to thrive and grow.