$LEASH is the second token in the Shiba Inu Ecosystem. Originally, it was intended to be a rebase token tied to the price of $DOGE, allowing members of the Shiba Inu community to benefit from $DOGE price movements without direct investment. However, it was later decided that $LEASH would disable the rebase function and continue as a simple ERC-20 Token.

What is Shiba Inu?

Shiba Inu ($SHIB) is a meme token that started as a fun currency and has now evolved into a decentralized ecosystem. According to the Shiba Inu website, $SHIB is known as the "DOGECOIN KILLER" and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously in August 2020 by someone using the pseudonym "Ryoshi." Ryoshi claims to be a nobody and not important, and unmasking his identity would be underwhelming even if successful.

This meme coin gained popularity and value rapidly as a community of investors was attracted by its cute charm, as well as headlines and tweets from personalities like Elon Musk and Vitalik Buterin. While Vitalik Buterin was long believed to be the creator of Shiba Inu, he denied such rumors on the Lex Fridman podcast on June 5, 2021.

Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin's Scrypt-based mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies, including Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM). These lower-valued tokens have attracted investors who missed the Dogecoin surge from 0.0002 to nearly 0.75 USD.

Shiba's success has led to a wave of copycats, such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, Captain Shibarrow, SHIBA2K22, SpookyShiba, and many others. In total, there may be well over 100 Shiba Inu copies, and the number continues to rise constantly.

Doge Killer (LEASH) is a token in the Shiba Inu (SHIB) ecosystem. Shiba Inu is commonly referred to as the Dogecoin (DOGE) killer because of its enormous popularity. SHIB grew to become the second-largest canine-inspired coin in the crypto space and aims to be the Ethereum (ETH)-based counterpart to Dogecoins Scrypt-based mining algorithm. Besides LEASH, there is also Bone ShibaSwap (BONE), another dog coin that is part of the Shiba universe, which can be traded on its own ShibaSwap decentralized exchange (DEX).

LEASH, BONE and SHIB are all part of the dog coin avalanche that has taken the crypto space by storm in 2021. Other examples of dog-themed coins are Baby Dogecoin (BabyDoge), Drunkdoge (DRUNK), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM).

Shiba Inu (SHIB) was created in August 2020 by an anonymous person or group using the pseudonym Ryoshi. As a part of the Shiba Inu ecosystem, Ryoshi is also behind Doge Killer (LEASH), and there is still close to no information regarding the identity of the tokens creator(s). In Shiba Inus whitepaper – whimsically entitled the Woofpaper – Ryoshi give(s) three reasons for creating Shiba Inu:

We started from zero, with zero.

The brilliant minds behind Shib had never collaborated before.

We love Shiba Inu Dogs.

However, it is fair to assume that the stunning success of Dogecoin (DOGE) also inspired the endeavor and that the founder(s) recognized the lucrative potential of creating yet another popular dog coin.

Doge Killer (LEASH) was originally intended to be a rebase token but then the team decided to change tack and limit the total supply to only 107,646 tokens. This extremely low supply makes it an outlier among dog coins and also helps explain its high price, with LEASH trading at around $1,400 at the time of writing, down from a stunning all-time high of over $7,000 in May 2021. Usually, dog-themed cryptocurrencies have an artificially high supply – in the billions or even quadrillions – with which they try to spur investors to buy the token and pump the price to one dollar or one cent. LEASH takes a refreshingly different approach, making it a truly unique dog coin.

Although the team promises lucrative rewards to LEASH holders, it does not specify what these will be. This will potentially be up to the community to decide, as Bone ShibaSwap (BONE) is the governance token of the Shiba Inu ecosystem and will be used for voting in proposals in the upcoming Doggy DAO.

In contrast to Shiba Inu (SHIB), which has a total supply of one quadrillion, Doge Killer (LEASH) has a very low total supply of only 107,646. Shiba Inu famously burned 50% of its token supply to Vitalik Buterin, the co-founder of Ethereum. In response to this gift from the Shiba Inu team, Buterin sent 50 trillion SHIB tokens worth $1 billion at the time to Indias Covid Crypto Relief Fund. Buterin then burned 40% of the total supply to a dead wallet. Although this initially led to a massive sell-off in the price of SHIB, the two communities managed to strike a deal and the price of SHIB and LEASH was on a consistent uptrend in September and October 2021.

Doge Killer (LEASH) is an ERC-20 token, which is the token standard that most new tokens use if issued on the Ethereum (ETH) blockchain. A stalwart of the crypto space, Ethereum remains the go-to solution for many decentralized application (DApp) creators. Its blockchain has successfully transitioned from a proof-of-work (PoW) consensus mechanism to proof-of-stake (PoS) during the "Merge" on Sept. 15, 2022. A set of decentralized nodes validates all transactions and secures the Ethereum blockchain, ensuring it is one of the safest in the industry.

In addition, all tokens in the Shiba Inu (SHIB) ecosystem have been audited by Certik.

Doge Killer (LEASH) is available on Uniswap (V2), Gate.io and Shibaswap.

Cryptocurrency newbie? You can read more about how to enter the market and how to buy Doge Killer (LEASH) or any other token in the BYDFi education portal — Alexandria.