OPEN APP
Home / Markets / Cryptocurrency /  Shiba Inu founder deletes all tweets and blog posts
Listen to this article

Memecoin Shiba Inu's pseudonymous founder Ryoshi has deleted all of his tweets and blogs, including his first ‘All hail the Shiba’ post. His last post was published in May 2021 and after a year of silence, the creator has removed all of his articles and blogs on social media platform Twitter.

In his last post a year ago, Ryoshi said that “I am not important, and one day I will be gone without notice. Take the SHIBA and journey upwards frens."

Created in August 2020 by an anonymous person known as Ryoshi, Shiba Inu coin’s price is negligible, which allows investors to hold billions and even trillions of this coin. Shiba Inu is a breed of hunting dog from Japan, and the coin, which carries its name, was nicknamed the ‘dogecoin killer’. Shiba Inu aspired to be an Ethereum-based alternative to dogecoin (DOGE).

Following its listing on the Coinbase exchange in September, Shiba Inu, which was launched as an alternative to Dogecoin, grew 300% within nine days in October, to feature among the top 20 cryptos in terms of market cap. With the backing of several tech leaders, including Elon Musk and Ethereum founder Vitalk Buterin, its value grew due to its low entry price barrier. 

Trading in Shiba Inu, meanwhile, has been volatile. It is now priced at $0.000011, as per CoinGecko, and has declined more than 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 win for proponents who had long argued in favor of the token becoming available for trading. 

A survey earlier this month said that memecoin Shiba Inu (SHIB) may end up having no value by 2030. The survey involved 36 fintech experts to Finder.com, a price comparison portal.

A section of experts said meme coins, including SHIB, will completely disappear as the hype fizzles out. “The market is maturing and things like SHIB will die as capital begins to flow to quality and value rather than being scattered across the field in the hope that every player wins a prize," said Matthew Harry, head, funds, DigitalX Asset Management, a participant of the survey.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout