+ 2.69
+ 1.88%

Shiba Inu Sister Token, A Literal Dogecoin Killer, Has Soared 650% This Week: What You Need To Know

May 11, 2021 10:45 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Shiba Inu Sister Token, A Literal Dogecoin Killer, Has Soared 650% This Week: What You Need To Know

Doge Killer (LEASH), a cryptocurrency that touts its aim in its name, has spiked over 650% in a seven-day trailing period.

What Happened: LEASH has soared 662.22% in a seven-day trailing period and traded 31.41% lower over 24 hours at $5,467.22.

The cryptocurrency is from the same stable of meme coins as SHIBA INU (SHIB), another purported Dogecoin (DOGE) killer.

SHIB has skyrocketed 1,697.51% in a week’s time and traded 8.45% lower over 24 hours at $0.0003126 at press time.

See Also: How to Buy Shiba Inu (SHIB)

Meanwhile, the would-be victim of both the coins, DOGE  traded 9.12% higher at $0.50 at press time. The Shiba Inu-themed coin has fallen 15.68% for the week.

The promoters of LEASH and SHIB plan to launch yet another Dogecoin Killer dubbed “Bone” in the future, as per the tokens’ website.

LEASH touched an intraday high of $8,983.59 and a low of $4,681.97 in a 24-hour period.

Why It Matters: LEASH claims to have a total circulation of only 100,000 tokens, in contrast with SHIB, which has a circulating supply of 394.796 trillion coins. 

As a reference, Bitcoin (BTC) has a circulating supply of 18.7 million coins and a max supply of only 21 million coins. BTC traded 3.06% higher at $57,015.49 at press time.

SHIB has locked 50% of its total supply of one quadrillion coins to Uniswap (UNI) and the remaining 50% was burned to Ethereum (ETH) founder Vitalik Buterin. ETH traded 7.44% higher at $4,171.22 at press time.

See Also: 'Shib Army' Looks To Capitalize On The Shiba Inu Hype With NFT Sale

The recent SHIB rally was fueled by Chinese investors influenced by their domestic social media, particularly the posts by billionaire venture capitalist Charles Xue Biqun.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.

Related Articles

China's Cryptocurrency Mining Crackdown Intensifies, Spreads To Sichuan

Keeping a tough stance on cryptocurrencies, China has issued an order to crack down on crypto mining operations in Sichuan’s southwest province, Reuters</ read more

EXCLUSIVE: Dogecoin Mania Didn't Prove 'The End Of Crypto,' So They Launched Commercial Toilet Paper-Backer Tetherino, 'The Most Ridiculous Cryptocurrency' Ever

Dogecoin (CRYPTO: DOGE) and other meme coins have been in the spotlight this year as they soared to sky-high levels, but there is a cryptocurrency that wants to take the meme hoopla and ra read more

If You Invested $1,000 In Bitcoin When 'The Simpsons' First Mentioned, Here's How Much You'd Have Now

Since 1989, “The Simpsons” has entertained fans around the world and provided references to pop culture and current world events. An episode in 2013 featured the first mention of Bitcoin (CRYPTO:BTC) on the show. read more

EXCLUSIVE: Building On Top Of Bitcoin May Not Be As Popular As Ethereum, Other Blockchains, But We're 'Close To Seeing Some Runaway Success,' Says Stacks

Stacks (STX) aims to bring smart contracts and decentralized applications, or DApps, to Bitcoin (CRYPTO: BTC). An attractive facet for some is the ability to earn BTC earning through a mechanism the project calls “Stacking.”  Mitche read more