Ryoshi, the pseudonymous founder of Memecoin Shiba Inu, deleted all his tweets and blogs, including his first post “All hail the Shiba”. His last post was published in May 2021 and after a year of silence, the creator deleted all his posts and blogs on the social media platform Twitter.
In his last message a year ago, Ryoshi said, “I am not important, and one day I will be gone without notice. Take the SHIBA and travel upward.”
Created in August 2020 by an anonymous person known as Ryoshi, the price of the Shiba Inu coin is negligible, allowing investors to hold billions or even trillions of this coin. Shiba Inu is a breed of hunting dog from Japan, and the coin named after him has been dubbed the “dogecoin killer”. Shiba Inu aspired to be an Ethereum-based alternative to dogecoin (DOGE).
After its listing on the Coinbase exchange in September, Shiba Inu, which was launched as an alternative to Dogecoin, rose 300% in nine days in October, to rank among the top 20 cryptos by market capitalization. With the backing of several tech leaders, including Elon Musk and Ethereum founder Vitalk Buterin, its value has risen due to its low entry price barrier.
The Shiba Inu trade, meanwhile, has been volatile. It is now priced at $0.000011, according to CoinGecko, and is down over 65% this year (YTD) so far.
In April this year, Robinhood Markets Inc included four new cryptocurrencies on its platform, including the Shiba Inu coin, in a victory for proponents who had long advocated for the token’s availability for trading.
A survey conducted earlier this month revealed that the Shiba Inu memecoin (SHIB) may end up worthless by 2030. The survey involved 36 fintech experts on Finder.com, a portal for price comparison.
A section of experts have said that meme pieces including SHIB will completely fade away as the hype dies down. “The market is maturing and things like SHIB are going to die as capital starts to flow into quality and value rather than being scattered around the field in the hope that every player wins a prize,” said Matthew Harry, Head of Funds, DigitalX Asset Management, a survey participant.