That tire has delaminated and must be thrown out. Usually a tire delaminates after a fairly severe impact with say a pothole or speedbump. It is unsafe and you will never eliminate the shimmy shakes running on it.
Also, the same impact that delam'd the tire is likely to have bent your control arm too, so have them checked to spec. Again, with bent control arms, the car will never balance or align properly.
Cheers!
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