Understanding the Shiba Inu ecosystemTL;DR Breakdown
Shiba Inu has two more coins, LEASH and BONE.
The continuous development of the Shiba Inu ecosystem and the push from Elon Musk’s tweet has accelerated the growth of all three coins.
LEASH has great growth potential with the upcoming launch of NFTs on the ShibSwap platform.
Shiba Inu has been the hot topic in the crypto world after the price of the SHIB coin rocketed to 300% last week. But SHIB isn’t the only coin in the Shiba Inu ecosystem, there are 2 more. While traders are scrambling to buy more SHIB, you might want to take a peek into LEASH and BONE.
The Shiba Inu ecosystem was developed with 3 major tokens: SHIB, LEASH, and BONE. Although SHIB is leading the line, each of the tokens has unique features and uses in the Shiba environment.
Originally, LEASH was developed to be a rebase coin and its price was supposed to be linked to the Dogecoin. However, the idea was dumped before the final release, and LEASH was launched as a simple ECR-20 token. LEASH represents the tail-end of the Shiba ecosystem, with only 107,646 tokens, and it’s branded as the ‘Doge Killer’.
In terms of supply circulation, BONE sits perfectly between SHIB and LEASH. It has a total of 2.5 billion tokens. BONE acts as a governance currency. So, the holders of this coin can vote and participate in the important decisions concerning the ShibaSwap platform.
Shiba Inu craze fires up LEASH and BONE
Being in the same integrated ecosystem means that the price changes of SHIB will often directly impact the other two coins. The Shiba ecosystem is like a dog pack, where SHIB leads the pack and any impact on the leader will be felt throughout the pack.
This is a good thing because the crazy social media hype around SHIB is also affecting LEASH and BONE. The Doge Killer is up by 234.5% in the last 2 weeks, while BONE is also up by 48.2% with its price yet to fall in a 24h period since the Elon Musk tweet.
Unsurprisingly, Shiba Inu’s massive growth was influenced by Elon Musk when he tweeted a picture of his Shiba Inu puppy, but it wasn’t the only factor. The launching of ShibaSwap in July and SHIB’s listing on Coinbase in September also contributed to this massive growth.
The whole ecosystem progressed significantly in the second quarter of 2021, which is why we’re seeing this unprecedented growth of SHIB, LEASH, and BONE.
LEASH also has its own separate social media craze going on. The internet memes surrounding DogeCoin and the Doge Killer, along with the Shiba Inu craze rocketed the price of the LEASH coin to $2,648 from $850 in less than 10 days.
Why should you invest in LEASH?
If you’re looking to diversifying your portfolio with more altcoin investments, then LEASH is definitely a prominent choice. In addition to all the hype surrounding Shiba Inu, LEASH actually has an efficient model in place to support good long-term returns.
Its supply is only limited to 107,647 and burns $25000 every new listing. It means that for every new coin to be listed on ShibaSwap, they have to burn $25000 worth of LEASH.
The ShibSwap platform is also launching 10,000 Shiboshi NFTs soon. If successful, this launch can boost the prices of all tokens. This launch is particularly especially for LEASH because these new NFTs can only be bought using the Doge Killer for the first 24 hours. So, you might see a big increase in the trading volume of LEASH when this launch happens.
So, these are very compelling and lucrative reasons to invest in LEASH. However, as with all cryptos, you have to remember that nothing is guaranteed in this volatile market.