• Shytoshi Kusama, lead developer of Shiba Inu, made a rare appearance fueling excitement that led to SHIB’s price experiencing a price surge.
• His anonymity raises concerns about transparency and regulatory scrutiny.

Shiba Inu recently put on a show at the IVS2024 conference in Kyoto, Japan. However, it was not the SHIB token that gave the show rather it was its lead developer, Shytoshi Kusama.

Making his first public appearance, Shytoshi sparked a frenzy clad in a black and gray Samurai suit, complete with a face mask. It didn’t take long for videos and photos of him along with his fans at the SHIB token booth squirming the internet. 

This eccentric approach of Shytoshi Kusama contrasts that of Ethereum Co-founder, Vitalik Buterin, who stepped into the spotlight since Ethereum’s inception. Notably, Vitalik, one of the most influential people, has faced regulatory pressure head-on, the most recent being early this year. As earlier reported on CNF Steven Nerayoff filed a lawsuit against Ethereum co-founders, alleging corruption and fraud in early operations of the project.

Questions have streamed asking why Shytoshi Kusama his identity hidden. 

Without a doubt, Kusama’s hidden identity has fueled excitement around SHIB.  His head-turning outfit and the surprise announcement of his next stop which is Mumbai India has attracted social activity among SHIB enthusiasts. This rise in social activity bolsters the Shiba Inu brand while at the same time boosting community confidence in the token.

Is Shiba Inu’s Lead Developer Identity of Concern?

However, on the flip side, Shytoshi Kusama’s anonymity raises concerns. Cryptocurrencies are facing increased regulatory scrutiny all over the globe with key figures in the crypto landscape undergoing regulatory sanctions. Kusama might be shielding himself from potential legal or financial reverberations if SHIB attracts the long arm of the law. 

Nonetheless, while some members of the  SHIB community ooze with awe-struck excitement, another group is boiling in frustration. Comments on the X app are expressing a desire for more transparency, particularly regarding the much-anticipated burn rate, a process that reduces the overall supply of SHIB tokens, potentially increasing their value.

As the community awaits the Planned AMA (Ask Me Anything) that will be held in India, Questions continue to pile up as to whether he will unveil himself or at the very least address the community concerns directly. 

Shiba Inu has achieved a significant milestone as it’s now an accepted payment method by the first publicly traded company in the United States.  

Notably, Kronos is now the first US-based publicly traded company to approve SHIB as a widely accepted payment method.  Boasting more than 1.39 million SHIB holders across the globe, Kronos is satisfied enough to make an integration with the digital asset.

Following the news, SHIB is changing hands at $0.0000163, representing a noble 2.02% surge in the last 24 hours. The question lies in whether the surge can be sustained.