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Shiba Inu founder goes dark(er)

Shiba Inu is going through tough times
Shiba Inu is going through tough times
Although not much is known about Shiba Inu's creator, Ryoshi, now this mysterious person is back in the dark after he removed all the social media content he ever posted. However, this extreme move has not affected much the popular meme coin yet, which has just teamed up with leading travel agency Travala.

Ryoshi, the creator of the Shiba Inu coin, might be a she or a he, from Japan or from anywhere else. Nothing was ever known about this person, but at least he/she was quite present on social media sites since the introduction of the decentralized meme token in August 2020. Now, all those posts are gone, including the first one, entitled "All Hail the Shiba" and nothing is known about the reasons that led to this rather extreme course of action.

Back in October, Shiba Inu gained no less than 300 percent in nine days, after being listed on Coinbase. Now, although its value has fallen by almost 50 percent in the last month, Shiba Inu remains a relevant presence in the crypto world. The latest development sees its utility boosted by the partnership with Travala, so its users can use the coin to book flights, hotels, trips, and even supercars like Ferrari, Lamborghini, and Rolls-Royce. Similar platform XcelTrip has recently adopted Shiba Inu as well.

Over the past 24 hours, 101.6 billion tokens have been burned, bringing the total of destroyed ones to 410.36 trillion. According to Coinbase, Shiba Inu now ranks as the 13th listed coin by popularity. The typical hold time is 137 days and the current trading activity trend (for the last 24 hours) shows a solid 74 percent buy score.

Given the explosion of the NFT market over the last year, it is quite likely to see Ryoshi's blog posts and tweets to return as digital assets. Obviously, everything is shady right now and there are many future developments possible, including the chance that Ryoshi has decided to bail out and leave the entire ecosystem adrift.

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Disclaimer: The information reported here should not be used as a basis for any personal investment decision. Notebookcheck does not offer cryptocurrency, NFT, or other trading, investment, or financial advice.

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Codrut Nistor, 2022-06- 3 (Update: 2022-06- 3)