The craziest theories about SHIB

Like bitcoin and its founder Satoshi Nakamoto, several crypto project founders maintain their anonymity and remain unidentified.

Sometimes anonymity surrounds not only the brain 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 is looking for more usability 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 crazy theories mainly point the finger at Elon Musk. Musk is a bitcoin supporter and whose comments about DOGE could 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 are said to be behind SHIB, Elon Musk and Vitalik Buterin, the founder of Ethereum, have come to the fore multiple times. But Shytoshi Kusama’s Twitter account was quick to deny the claims.

The burns of Shiba Inu promises to intensify

Despite the speculation surrounding Shytoshi Kusama, it can be noted that the token is still popular. It is often cited as a primary investment alternative alongside Bitcoin and Ethereum, the “classic” tokens among holders.

Last week, the token gained almost 14% with a prize of $0.00001225 per token.

Over a billion SHIB tokens have been burned in the past seven days. Shytoshi Kusama reiterated the community’s role in fostering development conducive to cryptocurrency.

According to the developer, massive burns will indeed require a community effort.

According to data shared and updated daily by Shibburn’s Twitter account, more than 410,3373,764,750,087 tokens have already been withdrawn from the initial offering. That is, almost half of the maximum number of tokens.

Over a billion tokens were burned in the past week, totaling 104 transactions.

This one burns regular customers 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 widely used smart contract among Ethereum’s 5,000 best whales is that of Shiba Inu, according to statistics from WhaleStats.

Of the 100 largest Ethereum addresses, SHIB reappears at the top of the rankings, staying in the top spots week after week.

There are two main motivations driving these purchases from Ethereum whales. The token can be a means of payment. But also price increase – SHIB removed several zeros from its price in the fall of 2021.

SHIB is always looking for diversification and further development of its project. The coming months promise to be interesting as the development team tackles the flagship project: SHIB, The Metaverse.

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