Shiba Inu Theories: The Real Identities of Ryoshi and Shytoshi?

Uncovering the wildest theories about Shiba Inu’s key figures.

Man with an abstract digital head, sitting in a fancy chair next to a small dog on a stool in the middle of a desert.
Created by Gabor Kovacs from DailyCoin

Shiba Inu theories are some of the cryptocurrency world’s most grandiose and ridiculous. Privacy and anonymity are some of the founding principles of blockchain technology, yet the identity of meme coin creators remains an unshakeable obsession for the SHIB Army

Much like the elusive Satoshi Nakamoto of Bitcoin (BTC) fame, Shiba Inu’s key figures, Ryoshi and Shytoshi Kusama, are veiled behind pseudonyms that protect their livelihoods.


Are they ingenious developers operating in the shadows, or could they be well-known personalities in the crypto sphere, secretly orchestrating the Shiba Inu ecosystem from backstage?

In this article, we’ll entertain some of the most outrageous Shiba Inu theories and see if they shed any genuine light on Shiba Inu coin’s trademark mystique.

Why Are Ryoshi and Shytoshi Anonymous?

In a field where transparency reigns supreme, SHIB founder Ryoshi’s decision to cloak themselves in anonymity raises intriguing questions and fuels speculative fires. 

Of course, the crypto landscape is no stranger to anonymous founders. Satoshi Nakamoto, the forefather of the entire industry, set the trend when he created Bitcoin from behind a mysterious pseudonym. 


For Ryoshi and Shytoshi Kusama, lead developers of the Shiba Inu ecosystem, there are plenty of good reasons for their ongoing secrecy. 

Firstly, it creates a sense of equality and communal ownership within the Shiba Inu ecosystem. Stepping away from the limelight allows the community to take the reins, steering the project’s direction and fostering a truly decentralized movement. 

The absence of a public figurehead prevents the concentration of influence and power, ensuring that the community’s voice remains paramount.

Secondly, anonymity acts as a protective shield, safeguarding the creators from potential legal ramifications and public scrutiny. In the volatile and often unpredictable crypto market, the cloak of anonymity provides security.

I don’t know about you, but if I’d created a meme coin that reached a multi-billion dollar market capitalization, I wouldn’t want the criminals in my local area to know about it.

Finally, the enigma adds an extra layer of mystique to the Shiba Inu narrative and keeps the crypto world abuzz with theories and conjectures. If the legendary founder of Shiba Inu turned out to be regular old Eugene from the local lawn care club, the illusion of grandeur would be somewhat diminished, wouldn’t it?

Ryoshi Found? A New Theory

Ever since Shiba Inu price sky-rocketed in 2021, outlandish theories speculating on Ryoshi’s true identity have become a watercooler topic in crypto discords. 

Amidst the fantasies that the original SHIB deployer is a powerful businessman like Mark Cuban, or Elon Musk, a new theory has put the SHIB Army on notice. 

𝕏 user and crypto researcher TruthLabs (@BoringSleuth) has hypothesized that Ryoshi is not a singular entity but a team of two individuals: Ryo Suzuki and Tsuyoshi Maruyama. 

A post on X about Shiba Inu theories by TruthLabs.
Source: 𝕏

Aside from a convenient melange of their names, the crux of this theory lies in the connection between Suzuki and Maruyama to the B2C2 Group, a renowned crypto liquidity provider. According to our shrewd detective, a series of suspicious hires and fires within the organization are worth a deeper investigation. 

Ryo Suzuki’s resignation as an advisor on the very day Tsuyoshi Maruyama was appointed to a similar role raises eyebrows and invites further exploration.

Thankfully, a bit more ‘evidence’ gives weight to this theory. B2C2 is a known market maker for the Robinhood trading platform, a powerful financial body whose crypto wallet once held 25% of the total supply of SHIB.

Moreover, both Suzuki and Maruyama have been omitted from the list of advisors on the company’s website, only deepening the mystery of their involvement between SHIB and its high-powered connections.

The theory doesn’t stop there; it delves deeper into the crypto rabbit hole, suggesting potential links between Ryo Suzuki and influential figures and institutions. A visit to MIT’s media lab and an internship at Microsoft during Shiba Inu’s launch are pieces of the puzzle still unexplained.

While it’s fun to speculate, and the crypto world loves a conspiracy theory, these claims seem more circumstantial than concrete. The fact that Ryo and Tsuyoshi’s names mix to make Ryoshi does little to inspire confidence in the theory, even if they did have some involvement with Shiba Inu’s inclusion on the Robinhood trading platform. 

Is Elon Musk Secretly Shytoshi?

For the SHIB Army loyalists, desperately trying to draw links between Shytoshi Kusama and Elon Musk has become a full-time occupation. 

SHIB HODLER post on X about Elonmusk shytoshi.
Source: 𝕏

One prominent member of the Shiba Inu community, SHIB Hodler (@ShibaInuHodler), has previously teased a theory suggesting that Elon changing his profile picture on social media is enough to start laying out the red carpet.

The theory is light-hearted but is more likely just a good method of farming engagement on 𝕏 rather than an actual theory. 

Between managing Tesla, SpaceX, and 𝕏 itself, I doubt Elon Musk has the time to build blockchain products and services like Shibarium, ShibaSwap, and the Shiba Inu Metaverse.

Is Vitalik Buterin Pulling the Strings?

Need another far-fetched theory to fully get your dose of ridiculousness for today? Try this: An old blog article suggests that the influential Ethereum co-founder, Vitalik Buterin, might be one of the puppeteers orchestrating the movements of the SHIB token. 

Vitalik Buterin showing a peace sign in a conference.
Source: Vox

The theory begins by examining the inconsistencies in Ryoshi’s statements regarding SHIB ownership across different articles, leading to the speculation that Ryoshi is not a single individual but a lethal tag team duo comprised of Buterin and Musk.

The article points to a deleted tweet from 2019, where Vitalik Buterin invited Elon Musk to Devcon, an Ethereum (ETH) developer conference, fueling the idea that both could be involved in Shiba Inu’s creation. 

Adding ‘weight’ to the theory, the writer highlights several instances where Ryoshi has inconsistently mentioned owning SHIB, which would only make sense if they were two separate people.

One of the author’s key pieces of evidence? An excerpt from early Ryoshi posts where the SHIB founder refers to a fish market in a location known only as ‘Durbs’. In this context, ‘Durbs’ likely means Durban, a large city in South Africa. 

Who else do we know from South Africa? You guessed it, Elon Musk. Ironically, Elon has expressed far more support for Dogecoin than Shiba Inu.

I shouldn’t need to tell you this, but this evidence is inconclusive. Of all the Shiba Inu theories circulating the internet, the idea that Elon Musk and Vitalik Buterin joined forces to create Shiba Inu is as ludicrous as the SHIB price predictions suggesting that $1 is on the way.

On the Flipside

  • While it’s to concoct wild theories about the true identities of Shiba Inu’s key figures, the reality is that any truthful doxxing would probably be disappointing. As Ryoshi said themself,
“I am a nobody, I am not important. The efforts to unmask my “identity” even if successful would be underwhelming.”

Why This Matters

The mystique and enigma that envelop the Shiba Inu ecosystem is part of its success. Maybe some things are better left unsaid.


Will Shiba Inu reach $10?

It is extremely unlikely that Shiba Inu will ever reach $10. If this were to happen, SHIB would have a larger market cap than the entire New York Stock Exchange.

Where can I buy Shiba Inu?

You can buy Shiba Inu on crypto exchanges like Binance and Coinbase, alongside other popular altcoins like Cardano (ADA), Solana (SOL), and XRP.

Are there any Shiba Inu NFTs?

Yes, the Shiba Inu project released the Shiboshi NFT collection in October 2021.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Finn Miller

Finn Miller is a New Zealand-based blockchain writer for DailyCoin who specializes in simplifying complex blockchain topics. He is experienced in crafting whitepapers, researching on-chain data, and advising emerging crypto projects, and uses his unconventional approach to learning and passion for knowledge to provide cornerstone educational content for readers of all levels. When not exploring the depths of DeFi, Finn can be found exploring his other passion, the great outdoors.