According to CoinMarket, Doge Killer (LEASH) is currently the highest-priced memecoin right above the Official TRUMP and $MELANIA tokens, but what do we know about this token?
It is the second token in the Shiba Inu Ecosystem. Initially intended to be a rebase token pegged to Dogecoin’s price, it was later “unleashed” and no longer follows a rebase model. Instead, LEASH serves various purposes within the ecosystem, including collateral for loans and potential yield farming opportunities. Together with Shiba Inu (SHIB) and BONE tokens, LEASH powers a thriving economy with a decentralized exchange, NFTs, and even a metaverse.
SHB was launched back in 2020 as a competitor to the popular memecoin DogeCoin and has gained a strong community and several use cases since then. The Shiba Inu ecosystem includes three tokens: SHIB, BONE, and LEASH.
Who created it?
The creator of LEASH is the pseudonymous Ryoshi — the same developer who founded SHIB. SHIB acts as the primary utility token, as it is the oldest and most common asset in Shiba Inu’s portfolio. Overall, SHIB is the foundational currency, representing the entire project.
LEASH is the second token incentivized on ShibaSwap, acts as the secondary utility token, and is used extensively in the newest projects of Shiba Inu, including the metaverse.
What is unique about LEASH?
While SHIB was made to have an enormous supply of (1 quadrillion tokens) with half locked away, whereas the supply of Leash is only 107,647 minted tokens.
How Is Doge Killer Used?
LEASH plays a crucial role in the SHIB ecosystem, particularly on ShibaSwap, the decentralized exchange (DEX) where users can trade, provide liquidity, and potentially earn rewards. While specific benefits for LEASH holders have not been fully disclosed, it is designed to increase demand for SHIB tokens and strengthen the broader ecosystem.
It can be traded on multiple exchanges, including BitMart, Gate.io, and LBank, and can be swapped for other cryptocurrencies like USDT or ETH. Holding LEASH allows investors to participate in the SHIBARIUM ecosystem, gaining access to potential rewards and trading opportunities.
What is its value as of the time of writing?
LEASH reached its highest value 4 years ago, shortly after being issued, when it was trading at $8,983. However, it has since then steadily declined in value to its current $144, which still makes it the most highly valued memecoin, with a market cap of $15 million. It is also ranked 879th out of all 10,748 active cryptocurrencies listed on CoinMarketCap.
Why is it so valuable?
Since the token has a fixed supply of just 107,646 tokens, this makes LEASH one of the more scarce assets in the Shiba Inu ecosystem.LEASH also promises to compensate its holders with valuable rewards for supplying liquidity, and this, together with its scarce supply, makes for its impressive price, especially compared to SHIB or BONE.
Shogun Lin
