The Shiba Inu Founder Is Stepping Down From SHIB. Here’s What That Means.

  • The founder of the Shiba Inu (SHIB-USD) network is stepping down
  • Known by the pseudonym Ryoshi, the founder has guided the expanding SHIB crypto ecosystem for nearly two years
  • Ryoshi has assured SHIB users that the network will push on as normal despite this departure
Shiba Inu (SHIB-USD) or Shib coin standing centrally placed among bunch of crypto coins on blue background. Close-up, soft focus. Banner with golden Shiba token.
Source: salarko / Shutterstock.com

Today, some sudden news is shaking up the Shiba Inu ecosystem. The network’s founder and long-time spokesperson is stepping down from their post — and in dramatic fashion. With the founder now out of the picture, though, what’s to become of Shiba Inu? That’s what SHIB crypto holders are wondering as developers continue to work on big new features for the network.

Pseudonymous SHIB founder Ryoshi has been helming this crypto from the jump. As founder of the network, they chose to remain semi-anonymous in homage to anonymous Bitcoin (BTC-USD) creator Satoshi Nakamoto. Ryoshi is also the brain behind many Shiba Inu projects, bringing to life features like the ShibaSwap decentralized exchange (DEX) and the Shiba Inu metaverse, which is in the earlier stages of its rollout.

As the spokesperson of the network, Ryoshi has been wildly successful in their key role as a SHIB crypto marketer. With over 200,000 followers on Twitter (NYSE:TWTR), they have successfully mobilized users time after time in social media campaigns for the token. This is largely how the network was able to capitalize on Dogecoin’s (DOGE-USD) boom last year, leveraging the pupcoin for its own gains.

After a busy year-and-a-half, though, it seems Ryoshi is interested in moving on. Will this have broad affects on the Shiba Inu ecosystem and the SHIB crypto? They say it won’t, but there’s a whole laundry list developers now have to check off by themselves.

Shiba Inu Loses Leadership Ahead of Several Major Project Releases

Over the holiday weekend, Ryoshi announced they will be stepping down from the Shiba Inu ecosystem. The announcement is a surprise to SHIB holders, as Ryoshi hadn’t previously signaled a desire to leave. Still, the leader of “SHIB Army” seems serious about the departure.

This news comes after Ryoshi deleted all posts from their Twitter account as well as their blog. Previously, the blog had housed the founder’s musings and updates regarding the network’s many side projects. Now, it hosts just two short farewell posts.

Investors may now be wondering just what to expect from this news. After all, it’s a big deal to lose such a prominent figurehead for the crypto project. Given the grand plans for SHIB in the future, Ryoshi is also choosing to step down at a fairly critical moment. The Shiba Inu metaverse, while slowly rolling out through land auctions, is still in early stages. Developers are also still preparing the layer-2 Shibarium network for launch — perhaps one of the biggest upgrades SHIB has seen yet.

As Ryoshi steps down, though, developers are assuring investors it won’t be a tough loss for SHIB. The mysterious founder says as much, too. Another pseudonymous Shiba Inu player, Shytoshi Kusama, said in a blog post that the departure is a deliberate move as SHIB’s massive projects fall into place. Kusama says the founder is leaving it “up to us, The Shib Army.”

Right now, many SHIB holders are likely feeling uncertain about the departure, but that isn’t showing in the token’s price movement. The SHIB crypto is currently trading up by nearly 1% as volume remains on par with daily averages. Although Shiba Inu leadership is seeing quite the toss-up, faithful users are conducting business as usual.

On the date of publication, Brenden Rearick did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/05/the-shiba-inu-founder-is-stepping-down-from-shib-heres-what-that-means/.

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