An Ethereum-based memecoin rumored to be created by the same developer behind Dogecoin (DOGE) competitor Shiba Inu (SHIB) has pulled off enormous gains over the past month while the rest of the crypto markets trade down or sideways.
Since the beginning of August, Dejitaru Tsuka (TSUKA) is up over 300%, going from $0.024 to $0.099 at the time of writing.
In the same timeframe, king crypto Bitcoin (BTC) is down 5%.
Dejitaru Tsuka touts itself as a decentralized community centered around meditation, reflection and research.
Pseudonymous developer and creator of Shiba Inu Ryoshi is thought to be the mastermind behind Dejitaru, according to some members of the SHIB community.
SHIB enthusiasts say that some of the writing Ryoshi used regarding Shiba Inu is the same used for Dejitaru Tsuka’s blog. Dejitaru’s Medium page also uses the same image as Ryoshi’s Twitter profile, and Ryoshi is the only account that Dejitaru follows on Twitter.
Members of the TSUKA community also wrote an editorialized version of Ryoshi’s blockchain messages in a Medium post, signaling their belief that the mysterious crypto veteran is behind the new meme coin project.
Shiba Inu was one of the best performing crypto assets in 2021, and even after dropping well below its all-time high, SHIB remains up 23,207,884% from November of 2020.
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Featured Image: Shutterstock/ZinetroN/Andy Chipus