Gushiken Yona
Shiba Inu’s Doge Killer LEASH is on a tear, unleashing its power and defying expectations with a ferocious double-digit surge that has the crypto world buzzing.
As of late night Monday ET, LEASH is trading at $307.83, a remarkable 11.81% increase over the past 24 hours. This surge propelled its market cap to $32,745,174, signaling a potential turning point for the token.
The recent price action, fueled by a surge in trading volume, which saw a 46.50% increase in the past 24 hours, reaching $1,985,056. This underlined strong buying pressure and a renewed interest in the Doge Killer, potentially driven by a combination of factors, including positive community sentiment and favorable technical indicators.
A look at LEASH’s recent price chart revealed a clear upward trend that began around Monday. The token broke through a key resistance level around $280, signaling a potential shift in momentum.
The current surge appears to be driven by a breakout from a consolidation pattern that formed over the past few days, suggesting that the upward momentum could continue in the near term.
Several technical indicators support this bullish outlook:
Moving Averages: LEASH is trading comfortably above its 50-day and 200-day moving averages, a bullish signal suggesting that the long-term trend is also positive.
Relative Strength Index (RSI): The RSI, a momentum oscillator, is currently above 70, indicating that LEASH is in overbought territory. While this could signal a potential short-term pullback, it also reflects the strength of the current uptrend.
Volume: The surge in trading volume accompanying the recent price increase is a positive sign, indicating strong buying pressure and conviction behind the move.
Adding to the bullish sentiment is the overwhelmingly positive community sentiment surrounding LEASH. According to CoinMarketCap data, 86% of users are bullish on the token, indicating a strong belief in its future potential.
This positive sentiment is likely fueled by LEASH’s unique position within the Shiba Inu ecosystem and its limited supply of only 106,373 tokens. LEASH was initially designed as a rebase token pegged to the price of Dogecoin, hence the moniker “Doge Killer.”
While the future of LEASH remains uncertain, its recent price action, strong community support, and favorable technical indicators suggest that this “Doge Killer” may be just getting started. Whether it can sustain this momentum and live up to its ambitious moniker remains to be seen, but one thing is clear: LEASH is a token to watch closely in the coming weeks and months.
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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
