Cryptocurrency

Shiba Inu Founder Steps Down and Bids Farewell to the ShibArmy

In its creator’s absence, the community has come together to self-govern.

Cryptocurrency

Shiba Inu Founder Steps Down and Bids Farewell to the ShibArmy

In its creator’s absence, the community has come together to self-govern.

According to reports Shiba Inu (SHIB) Founder Ryoshi has stepped down from his role and has deleted all social media posts — including the Medium blog in which they first shared the news. In its creator’s absence, the community has come together to self-govern for the time being.

“I have said from the beginning, I am a nobody, I am not important. The efforts to unmask my ‘identity’ even if successful would be underwhelming. I am just some guy of no consequence tapping at a keyboard and I am replaceable. I am Ryoshi,” said the pseudonymous SHIB leader in their since-deleted Medium post.

In response to the event lead developer of SHIB Shytoshi Kusama shared their own blog post on Medium, memorializing the tokens founder. “The ethos of Ryoshi to remain anonymous and have no input on the direction of Shib, makes our mythos even more mystic and impressive. We’ve built from nothing, never paid an exchange for a listing, and revolutionized ‘meme’ tokens by growing exponentially,” stated Ryoshi adding that “FUD will be just that. But Shib is Shib and we remain to grow far into the future following the path laid by our magnificent founder.”

The reaction to the news by the community and broader market has not been received negatively and has instead caused the Shib Army to rally together — saying that “We are Ryoshi.” At the time of writing, the asset sits at $0.000012 USD up roughly 3% in the last 24 hours, down 86% from its all-time high, and up 54% in a 12-month time frame.

In other Web3 news, OnlyFans founder launches a celebrity NFT trading card platform.

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