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There was once upon a time when there was a very special dog. That dog was a Shiba Inu, and he inspired millions of people all over the world to invest money in tokens bearing his image.
SHIB is the “DOGECOIN KILLER,” according to the SHIBA INU website, and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously under the pseudonym “Ryoshi” in August 2020. Ryoshi describes himself as a nobody and unimportant, and that efforts to reveal his identity, even if successful, would be disappointing.
This meme coin quickly grew in popularity and value as a community of investors were drawn in by the coin’s cute charm combined with headlines and tweets from celebrities such as Elon Musk and Vitalik Buterin. Vitalik Buterin was long thought to be the creator of the Shiba Inu, but he denied this on the Lex Fridman podcast on June 5, 2021.
Shiba Inu aims to be Ethereum’s answer to Dogecoin’s Srypt-based mining algorithm. Shiba Inu and the SHIB token are among a slew of dog-themed cryptocurrencies, which also includes Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM). These lower-valued tokens have drawn investors who missed the Dogecoin price increase from 0.0002 to nearly 0.75 USD.
The INU SHIBA WoofPaper’s team created SHIB for three reasons:
“We started from zero, with zero.”
“The brilliant minds behind Shib had never collaborated before.”
“We love Shiba Inu Dogs.”
The Shiba Inu coin’s anonymous creator is known as “Ryoshi.” However, much like Satoshi Nakamoto, the mystery founder of the dog-themed cryptocurrency, very little is known about him.
He describes himself as “just some guy of no consequence tapping at a keyboard” on his blog RYOSHI RESEARCH. Ryoshi stated that in most projects, different roles such as a CEO, a “tech guy,” and a roadmap are assigned, resulting in “someone plebs can bitch at.” He emphasizes that no one person is accountable or responsible for Shiba, and he owns 0 SHIB to this day. As a result, Ryoshi can be “pure and unbiased,” satisfying Shiba “in other ways.”
It has been speculated that Vitalik Buterin was behind the initial liquidity that assisted in the establishment of Shiba Inu’s liquidity on Uniswap. Ryoshi claims that he met “a fren” at Devcon in Osaka who sent him 10 ETH to set up the liquidity pair on Uniswap. Ryoshi also stated that Shiba Inu was an experiment in decentralized community building, so he declined all influencer requests and pitches he received from various exchanges. His “job” is to defend the brand and make suggestions, though he does so infrequently, as his most recent blog entry was in May 2021.
