The Shiba Inu cryptocurrency, also known as the Shiba Token, was released in August 2020. It has been steadily increasing in price and gaining popularity. Even the value managed to jump to a new record on Wednesday (27/10) yesterday. But it's still a mystery who actually made it.
With this, the value of this cryptocurrency managed to skyrocket by more than 60,000,000% over the past year. Lately there has been a decline, but still Shiba Inu is a phenomenon in itself in the world of crypto money.
The creator of the currency with the dog symbol with the same name as Shiba Inu, is known by the anonymous name Ryoshi, which means fisherman in Japanese. He didn't want to reveal who he was.
"I told you from the start, I'm nobody, I'm not important," he wrote. This relates to several parties who are trying to uncover who he really is.
"Attempts to reveal my identity, even if successful, will be meaningless. I'm just a guy with no consequences when it comes to typing on a keyboard and I'm easily replaceable. I'm Ryoshi," he added.
He added that the identity of the Shiba Inu is egalitarian. "With Shiba, we have made it very clear from the start that no one is in charge. No one is in charge and no entity has the key to this kingdom," he said.
Surprisingly, he admits he doesn't have a single Shiba Inu. "I get a lot of messages like Ryo, you must be a billionaire by now. But the reality is, to this day I don't have a single Shiba Inu," he claims.
He stated that he did so in order to remain pure and not deviate in his vision when creating the Shiba Inu. "Don't worry, the Shiba Inu will probably reward me in another way," he added.
Shiba Inu itself is referred to as a Dogecoin spin off. Moreover, the Shiba Inu Token has a logo that is almost the same as Dogecoin, which is a Shiba dog. However, unlike Dogecoin which started as a meme, the dog logo on the Shiba Inu Token looks fierce.
Like Dogecoin, Shiba Inu has made several investors millionaires overnight. It's no wonder that this cryptocurrency has managed to attract a number of celebrity supporters, from former boy band stars to professional athletes.
Despite all the enthusiasm, some experts have warned that the Shiba Inu Token may be a much more risky investment than any other type of cryptocurrency.
Based on data from Coinbase, the average Shiba Inu coin holder only holds their coin for about 6 days. The percentage increase in the value of the Shiba Inu has jumped to 5,100,000% since August 1, 2020 but on average only storing this coin for less than a week is a warning to be careful and wise in investing.
Actually, there is nothing wrong with investing in cryptocurrencies. However, given the very high volatility, which can go up and down for hours or even minutes, further calculations and research should be conducted on the right momentum to invest. The point is, don't just go along with it.
