Shytoshi’s cryptic return sparks buzz: Is Shibarium’s mysterious dev polishing a new AI-based venture?
Shiba Inu’s (SHIB) lead dev Shytoshi Kusama has just emerged from two months of silence to drop some great news. The next update will likely announce a collaboration with a new company, potentially giving an AI-related utility boost to the Layer-2 Shibarium ecosystem.
“I am here because what I have been building, alone, at the request of a small company and with the grace of God, is nearing completion and today is the day ordained to begin speaking on it.” – declared Shytoshi Kusama.
Shytoshi Still Balling With SHIB Despite Departure Rumours
Despite many market connoisseurs speculating on Shytoshi Kusama’s departure from leading the Shibarium community in 2025, this has proven to be false. In reality, Shytoshi Kusama is reported to have been working alongside developer Kaal Dhairya on fulfilling the original Ryoshi’s vision, focused around decentralization.
With Shibarium’s Layer-2 gaining huge traction in 2024, the run towards $11 million in total value locked (TVL) was later overshadowed by a few hacking incidents & the demise of the non-fungible token (NFT) market, resulting in a liquidity crunch for most DeFi protocols at the time.
To solve the recent Plasma Bridge hack, Shiba Inu’s dev team members started a SHIB Owes You (SOU) campaign, described by team member Lucie as a structured recovery initiative that’s registering the verified deficits on as NFTs on-chain, gradually distributing the recovered funds – eventually soaking up the $4 million damage caused by the hacker.
Shiba Inu’s Exchange Reserves Dry Out During Big Moment
“Let’s be real, this moment will define the future.”, – uttered Zack From Subway, a pro-active SHIB Army member. Since last year, Shiba Inu’s (SHIB) price slumped by 57.5%, but the meme coin remains the second largest meme asset with a global market cap of $4,499,558,590, similar to major-cap utility altcoins like Hedera Hashgraph (HBAR).
However, fading trading volumes below $100 million on both Shiba Inu’s regular Spot markets & Shibarium L2 suggest there’s less speculative interest than before. With the developers of Shibarium urging the audience to keep their Shiba Inu coins safe in self-custodial crypto wallets, SHIB’s overall exchange reserves have dramatically plummeted.
By taking their SHIB out of exchanges, the custodians are more likely to induce scarcity when the demand rises. Judging from CryptoQuant’s data, there’s 82 trillion Shiba Inu coins left on exchanges – a huge drop from last year’s 140 trillion at the same time. If the trend continues, SHIB’s path towards $0.000025 ‘demand zone’ restoration is only a matter of time.
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