Shiba Inu Founder Deletes Blog and Tweets. Here’s Why the Experts Are Concerned About the Token

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Shiba Inu has become a well-known meme coin over the past few years. But it has also expanded its utility, recently launching its own metaverse project called SHIB the Metaverse, but it has yet to launch its long-awaited layer-2 solution, Shibarium. Even with the launch of metaverse utility, the token has seen a major downturn in value during the recent bear market. And on top of that, the Shiba Inu founder, who goes by the pseudonym Ryoshi, has vanished, leaving critics worried about the future of Shiba Inu.

Shiba Vanish-nu

Ryoshi recently deleted all of his blogs and tweets, disappearing from the web. All of the tweets from the Twitter handle @RyoshiResearch have been deleted, and the bio has been erased. The last tweet from the handle was made on May 29, 2021. It simply read, “decentralization, it works.” Disappearing had been something Ryoshi had hinted at before. Once in a blog post he stated, “I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards frens.” Although, of course, the founder of a cryptocurrency is important, he is alluding to something true in this statement. Because these platforms are open-source and decentralized, it is really a body of developers and users that keeps a coin going. And in the event of a founder dropping off the grid, the coin can fork and continue.

This is what happened when Bitcoin’s founder, Satoshi Nakamoto, did the same thing. For a time he would randomly pop into emails and forums before completely disappearing. Of course, that was back in 2010, and we have all seen Bitcoin’s success in the wake of that. This showed that a coin can recover from its founder’s untimely and mysterious disappearance. But it still leaves us to wonder why Ryoshi has left Shiba now of all times and if the coin is in trouble.

How is Shiba Inu responding?

Ryoshi left his post during a tumultuous time for the token. Shiba Inu has experienced one of its heaviest downturns since it launched. SHIB has dipped 87% from its all-time high, according to CoinMarketCap. And even today the coin is down over 5%, with a price of $0.00001121.

Shiba is an older coin and some of the newer crypto projects have come in with more advanced technology, making product delivery more seamless, and SHIB less desirable. And although a coin can still perform and innovate without its founder, the situation could leave investors feeling uneasy and wanting to go with a similar yet higher-performing functional platform like Bitgert. In fact, Bitgert is expected to surpass SHIB in the market in the coming months. However, as with all markets, we watch and wait, and say sayonara for now to Ryoshi.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Katie Clinebell has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.

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