An Ethereum (ETH)-based memecoin thought to be created by the same developer behind Dogecoin (DOGE) competitor Shiba Inu (SHIB) has pulled off enormous gains over the past two weeks while the rest of the crypto markets trade sideways.
Since the beginning of February, Dejitaru Tsuka (TSUKA) is up over 45%, and was at one point up 94.4% when it rallied from a low of $0.072 to $0.140 in 11 days.
In the same timeframe, king crypto Bitcoin (BTC) is down 3.6%, and ETH 2%.
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.
The memecoin reached a new milestone yesterday. According to the official Dejitaru Tsuka Twitter account, there are now 10,000 TSUKA holders worldwide.
The TSUKA news comes on the heels of a whale wallet of unknown origin accumulating over 10,200,000,000 SHIB tokens worth about $131 million at time of writing. The Shiba Inu community is also waiting in anticipation for Shibarium, a proposed layer-2 system that aims to make SHIB transactions more efficient, similar to Polygon (MATIC) on Ethereum.
At time of writing, SHIB is trading at $0.00001269.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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Featured Image: Shutterstock/sdecoret/Zalevska Alona UA