LEASH is part of the Shiba Inu ecosystem, a popular cryptocurrency that was launched in 2020. The ecosystem has three tokens – SHIB, BONE, and LEASH – which are used for various purposes.
LEASH, a cryptocurrency billing itself as the “Doge Killer,” has seen a price spike, rising over 41% in recent trades.
LEASH’s price rose from $430.03 to $643.69 in a short period, resulting in a market capitalization of over $69 million.
This sudden increase in value has attracted the attention of many SHIB fans, curious to know the reason for this surge.
The token is a cryptocurrency token used in the Shiba Inu ecosystem, which is the second most popular meme cryptocurrency after Dogecoin.
Along with SHIB and BONE tokens, LEASH powers a decentralized exchange, NFTs, and a metaverse.
LEASH is now available for trading on Uniswap, OKX, Gate.io, and BKEX, among others. As reported by U.Today, the token went live on BlueBit.io last September.
This increased exposure to the broader cryptocurrency community has undoubtedly helped drive demand for the token.
LEASH was originally pitched as a rebase token, but the team later scrapped that idea. The supply of the token has been reduced to just 107,646 coins, which makes its price high.
Popular has various use cases, such as buying and staking on ShibaSwap, buying land in the Shiba Inu-themed metaverse, and using in Doggy DAO, a decentralized autonomous organization.
Shiba Inu has a large community and is constantly adding new features, and the team plans to launch Shibarium.