Gushiken Yona
Doge Killer (LEASH), designed for exclusivity, is living up to it, recording gains, as whales continue to accumulate the token, to enjoy premium rewards.
The tokens of the Shiba Inu ecosystem showed impressive performance this week as all of them traded in the green zone after a period of market dump. Among these ecosystem tokens is Doge Killer (LEASH), which surged as early as Thursday, recording a 12.08% increase to $154.44.
LEASH Token: Scarcity and Supply Dynamics
A defining characteristic of LEASH is its scarcity. Unlike its Shiba Inu (SHIB) counterpart, which boasts a massive circulating supply, LEASH has a total supply of only 107,530 tokens. This limited supply, a core design element, is intended to create exclusivity and potentially drive value for holders.
The circulating supply is approximately 106,390 LEASH, meaning nearly all of the tokens are already in circulation. This scarcity, combined with the recent price increase, contributes to a 24-hour volume-to-market capitalization ratio of 10.28%, a figure that, while not exceptionally high, indicates a notable level of trading activity relative to the token’s overall market value.
Whale Activity: LEASH Ownership Concentration
Data from CoinMarketCap, on LEASH holder distribution reveals a highly concentrated ownership structure, a factor often associated with increased price volatility. The vast majority of addresses (95.33%) hold less than $1,000 worth of LEASH, reflecting the token’s relatively high price per unit.
However, a number of “whale” addresses – those holding over $100,000 worth of LEASH – control a significant 41.51% of the circulating supply. This concentration of ownership means that the buying or selling activity of these large holders can have a disproportionate impact on the token’s price, a key consideration for potential investors.
Beyond whale accumulation, LEASH’s role within the Shiba Inu ecosystem further adds to its appeal.
Shiba Inu Ecosystem: LEASH Role and Benefits
LEASH was originally conceived as a rebase token, but its role within the Shiba Inu ecosystem has evolved. It now serves as a premium token, offering holders exclusive access to benefits and opportunities within the broader Shiba Inu community.
These benefits have included, at various times, exclusive access to NFT mints, increased rewards for staking on ShibaSwap (the ecosystem’s decentralized exchange), and other perks. The specific benefits offered to LEASH holders can vary, and are subject to change based on community governance and project developments.
Doge Killer Price Action
Doge Killer (LEASH) experienced a notable price surge early Friday, reaching $155.70 as of 7:26 a.m. ET, recording a huge 16.35% increase on the day. While 24-hour trading volume saw only a slight uptick of 0.42% to $1.63 million, this figure represents a significant portion of LEASH’s $15.6 million market capitalization, which increased by 9.30% alongside the price movement.
With a circulating supply of just 106,390 LEASH tokens, scarcity remains a driving force behind its price volatility. Whale accumulation and ecosystem utility continue to fuel investor interest, positioning LEASH as a token to watch in the evolving crypto landscape.
Read More
- BONE Skyrockets: Price Surges as Trading Volume Soars 392%
- Shiba Inu Eyes Breakout: Falling Wedge Pattern Hints at Strong Rally
- Shiba Inu Treat Soars: Ecosystem’s Rising Star Rockets Up
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.
