Shiba Inu's Mysterious 'Founding Stories' is What Makes the Memecoin Going

The revelation of Ryoshi’s identity might eventually help Shiba Inu regain its market dominance

Shiba Inu is a hot cryptocurrency that is constantly trending in the crypto market. SHIB’s price rally in 2021 amazed some of the toughest critics in the crypto market. Currently, the crypto market has been ongoing a recovery journey as some of the major digital assets in the domain are witnessing gains. Even Shiba Inu is climbing, as the crypto seems to be spiking for the past couple of weeks. The dog-themed cryptocurrency has labeled itself as a self-proclaimed ‘Dogecoin killer’ and has garnered the eyeballs of several crypto whales and investors. However, there are significant other controversies and conspiracy theories around the ‘founding stories’ of cryptocurrency. Shiba Inu founder Ryoshi is the primary base of these conspiracy theories. Well, what’s better than leveraging these conspiracies to inspire a sudden change in SHIB’s price actions, just like the Bitcoiners did?


Revealing Ryoshi’s Identity Might Help Surge Shiba Inu’s Price

There have been significant speculations in the market regarding the real identity of Satoshi Nakamoto, the founder of Bitcoin, who very mysteriously has kept the identity hidden, just like Ryoshi. Quite recently, the Shiba Inu founder pulled an unexpected stunt by deleting all social media posts, and tweets, and indicated leaving the market forever. This revelation left everyone shocked in the community, including SHIB’s lead developer, Shytoshi Kusama. Meanwhile, the broader crypto market continued to tumble down. Ryoshi’s shenanigans did shock the community but successfully ended up spiking the crypto’s value. The anxiety and anticipations around the crypto were real, but gossips and conspiracy theories were the real reasons why the crypto’s value surged.

Based on conjecture, Shytoshi apparently has stated that Ryoshi created Shiba Inu since it was meant to be. Reportedly, Ryoshi once said to him that ‘SHIB was written in the stars,’ it was as if, the crypto was destined to be here. Currently, crypto investors are seeking similarities between Ryoshi and Satoshi Nakamoto based on multiple occasions to somehow link a similarity between the two. But even after the two founders have several similarities, it is quite unlikely that the speculations will have the same impact on Shiba Inu, as they did on Bitcoin.


Shiba Inu is Different from Other Cryptocurrencies

There are several factors that make Shiba Inu different from the rest of the cryptocurrencies. Firstly, Shiba Inu started as an experiment in decentralized spontaneous community building to test the ethos of collective decentralization. The crypto network also has a few successful projects built on it by centralized teams, which are yet to be discovered. Another factor that sets the ecosystem to stand out is its community governance via the Doggy DAO. This enables investors to hold a minimum of 30,000 BONE to submit proposals that the community can vote on. But even after these developments and with a similar background, Shiba Inu has failed to garner as much attention as Bitcoin. Shiba Inu’s ‘founding stories’ might help the meme coin going, but its impact is not nearly as grave as it is in the case of Bitcoin.