$LEASH is the second token in the Shiba Inu Ecosystem. It was originally envisioned to be a rebase token tied to the price of $DOGE, which would enable members of Shiba Inu community to benefit from price movements of $DOGE without directly investing in it. Later, it was decided that $LEASH would turn off the rebase function and continue as a simple ERC-20 Token.
What is Shiba Inu?
Shiba Inu ($SHIB) is a meme token that began as a fun currency and has now transformed into a decentralized ecosystem. According to the Shiba Inu website, $SHIB is the "DOGECOIN KILLER" and is listed on their own ShibaSwap, a DEX. Shiba Inu coin was created anonymously in August 2020 under the pseudonym "Ryoshi." Ryoshi says himself that he is a nobody and not important and that the efforts to unmask his identity, even if successful, would be underwhelming.
This meme coin quickly gained speed and value as a community of investors was drawn in by the cute charm of the coin paired with headlines and tweets from personalities like Elon Musk and Vitalik Buterin. Vitalik Buterin was long believed to be the originator of Shiba Inu, but denied such rumors on the Lex Fridman podcast on June 5, 2021.
Shiba Inu aims to be the Ethereum-based counterpart to Dogecoin's Srypt-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 lesser-valued tokens have attracted investors who missed the Dogecoin pump from 0.0002 to nearly 0.75 USD.
Shiba's success sparked an avalanche of copycats, such as BitShiba, Shiba Fantom, Shibalana, King Shiba, SHIBAVAX, and Captain Shibarrow, SHIBA2K22, SpookyShiba, and countless others. In total, there may be well over 100 Shiba Inu copies, and the number keeps rising constantly.