Since Ryoshi, founder of the famous meme coin Shiba Inu, disappeared from the radar, the development of the ecosystem has been entrusted to the mysterious character Shytoshi Kusama, often associated with the multi-billionaire Elon Musk. 

The reasons for this theoretical connection are manifold, but they mainly concern Musk’s online presence linked to the world of memes.

Recently, Shytoshi Kusama appeared in an online interview where he provided hot details regarding these rumors. What was discovered?

We see it together in this article.

Shytoshi Kusama and Ryoshi: two prominent figures for the Shiba Inu community

Before delving into the details of a possible connection between Elon Musk and one of the major leaders of the Shiba Inu project, let’s make a small premise.

Initially, the cryptocurrency SHIB was introduced at the end of 2020 by the anonymous user “Ryoshi” through a post titled “All Hail the Shiba”, which later became a piece of history.

The content reported the idea of an “altruistic experiment”, capable of offering anyone access to a cryptocurrency without prioritizing team and investors.

This coin based on the Japanese Shiba dog meme, then managed to explode at a speculative level, bringing Ryoshi’s fame to stellar levels.

In May of last year, however, Ryoshi disappeared definitively from the social radar, deleting all his tweets on X and all his blogs on Medium.

At the dawn of his journey within the Shiba Inu project, the character had already hinted that he would leave for good sooner or later.

This is what he wrote in his first introductory post on Medium: 

“I am not important and one day I will leave without notice. Take the SHIBA and travel upwards friends”

Since then, the development of the decentralized ecosystem of Shiba Inu has been entrusted to the anonymous user Shytoshi Kusama, known as the founder of the DEX ShibaSwap.

Over the years Shiba Inu, born as a simple project of a memecoin, has grown to aggregate a proprietary blockchain and various cryptographic applications.

Even today Shytoshi leads the growth of the blockchain landscape associated with Shiba and participates in the development of new growth opportunities.

No one knows his true identity, masked by the background of a social account like that of Ryoshi. However, many associate his figure with that of Elon Musk, famous multi-billionaire owner of Tesla, SpaceX, and Neuralink.

The doubts of the community regarding the identity of Shytoshi Kusama: Elon Musk is the main suspect behind the Shiba Inu project

Recently the Shiba Inu community has repeatedly associated the identity of Shytoshi Kusama with that of Elon Musk, highlighting many connections.

Mainly these conjectures are based on the sympathy that Musk has expressed for the culture of meme. Between 2020 and 2021, a two-year period of explosion for meme coins, his meme-based tweets were incessant, as well as very popular.

In particular, his sympathy towards Dogecoin has driven him to post supportive content for the cryptocurrency, which is why he was later investigated for market manipulation.

ur welcome pic.twitter.com/e2KF57KLxb

— Elon Musk (@elonmusk) February 4, 2021

In any case, beyond his public appreciation, there are no other factors that could suggest a connection with the leader of Shiba Inu.

Shytoshy Kusama removed any doubt about it a few days ago, when in an interview for “Arabian Business” he stated that he is not Elon Musk.

While talking about the ambitious future plans of the project, he clarified his estrangement with the tech entrepreneur, despite the various rumors about it.

The supporter of the cryptographic project also stated that he wants to meet the patron of Tesla precisely to prove that he is not the same person.

It is not yet clear if this meeting will take place and in what manner the two will have a dialogue.

We don’t even know if Musk would agree to get in touch with Shytoshi, in case he really isn’t the same developer of Shiba Inu.

Wen conversation @elonmusk ? lol https://t.co/jIIKsGXFlN

— Shytoshi Kusama (@ShytoshiKusama) July 12, 2024

Who is therefore Shytoshi Kusama? This question might not be easily answered considering his strong inclination towards the concept of privacy.

In the same interview in which he said he is not Elon Musk he also stated that he would like to remain anonymous in the future.

According to reports, he believes that anonymity is more valuable than money, as it allows him to move freely without being identified.

Price analysis of memecoins Shiba Inu (SHIB) and Dogecoin (DOGE)

We close this article with a brief overview of the price trends of the memecoins Shiba Inu (SHIB) and Dogecoin (DOGE).

Elon Musk or not, both cryptocurrencies have recorded positive performances today, marking respectively a +1.7% and a +2.3%.

In the last 7 days, the presence of green days with increases in quotations of 7.24% for Shiba Inu and 8.62% for Dogecoin remains.

The two coins fall within the ranking of the top 15 cryptocurrencies by market capitalization, collectively concentrating over 27 billion dollars.

Analyzing the market scenarios individually for each memecoin, we notice that for SHIB a period of bull could be on the way.

Following the latest retracement advanced from the local top in March, for which the coin has lost 60% of its value, it now seems to be the time for a trend reversal.

Shiba Inu approaches the EMA 50 on a daily basis, ready to mark a typical pattern of “V-Shape Recovery”.

Initially, the first target is 0.00002 dollars, then moving to 0.000025 dollars. If both walls are broken, we could hypothesize a continuation of the bull trend up to new local highs.

For Dogecoin the situation is very similar to that of Shiba Inu.

The favorite coin of Elon Musk, although with more ups and downs, resumes a graphical structure similar to that of the recently analyzed crypto.

Since the end of March until today DOGE has gone through a bear trend that has led it to lose about 50% of its value.

Since the beginning of July, however, the support of 0.10 dollars seems to have held the coin from touching lower levels, bringing the quotations back into positive territory.

Even here, in the case of a reconquest of 0.14 dollars and then 0.18 dollars, we could think of a return to the bull market for this cryptocurrency.