Like bitcoin and its founder Satoshi Nakamoto, several founders of crypto projects maintain their anonymity and remain unidentified.
Sometimes anonymity not only surrounds the mastermind of the project, but also the team of developers. This is the case of the development team of Shiba Inu (SHIB), the 14th cryptocurrency by market capitalization, according to Coingecko.
The Shiba Inu has been looking for more utility by expanding its influence with a metaverse project, a stablecoin and more. Members of this community wonder about the developers of the project, especially since they are active on Twitter, unlike Satoshi Nakamoto.
Shiba Inu: Wild Theories
The wacky theories mainly point the finger at Elon Musk. Musk is a bitcoin supporter and whose comments on DOGE can skyrocket the price of the other famous memecoin within hours. Some rumors claim that Elon Musk is Shiba Inu lead developer Shytoshi Kusama.
Among the most influential personalities in the crypto sphere who would be behind SHIB, Elon Musk and Vitalik Buterin, the founder of Ethereum, have returned to the fore several times. But Shytoshi Kusama’s Twitter account quickly denied the claims.
— Ajdawg23 (@ajdawg23) July 18, 2022
The burns of Shiba Inu promise to intensify
Despite the speculation around Shytoshi Kusama, it can be noted that the token is still popular. It is often cited as a primary investment alternative beyond Bitcoin and Ethereum, the “classic” tokens among holders.
Last week, the token gained almost 14% with a price of $0.00001225 per token.
Over a billion SHIB tokens have been burned in the past seven days. Shytoshi Kusama reiterated the role of the community in fostering development conducive to cryptocurrency.
Indeed, according to the developer, massive burns will require a community effort.
Massive burns will require a true community effort and we are working towards it on many levels. Will take time and I hope the timing works out perfect!
—Shytoshi Kusama™ (@ShytoshiKusama) July 18, 2022
According to data shared and updated daily by Shibburn’s Twitter account, more than 410,373,764,750,087 tokens have already been withdrawn from the initial offering. That is, almost half of the maximum amount of tokens.
In the past 24 hours, there have been a total of 76,275,825 $SHIB tokens burned and 16 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) July 18, 2022
Over the past week, over a billion tokens have been burned, across a total of 104 transactions.
— Shibburn (@shibburn) July 17, 2022
These burns regulars promise to gradually influence the price in the future. But there is no guarantee that the price will reach 1 dollar or even 10 cents.
The Shiba Inu Remains Popular Among Ethereum Whales
Again, the most used smart contract among Ethereum’s top 5,000 whales is that of Shiba Inu, according to statistics from WhaleStats.
Peep the top 100 whales here: https://t.co/kOhHps8XBB
— WhaleStats (free data on crypto whales) (@WhaleStats) July 18, 2022
Among the 100 largest Ethereum addresses, again, SHIB appears at the top of the ranking and remains week after week in the top positions.
There are two main motivations driving these purchases among Ethereum whales. The token can be a means of payment. But also, price appreciation – SHIB removed several zeros from its price in the fall of 2021.
SHIB is always looking to diversify and further develop its project. The coming months promise to be interesting as the development team tackles the flagship project: SHIB, The Metaverse.
To display Hide the table of contents