“LEASH Can Hit $8,000 if…”: CoinMarketCap VP

Paigambar Mohan Raj
Source: Karen Cleveland Animal Communication

LEASH, aka DOGE-Killer, has been on a winning streak ever since its launch. As per the data provided by CoinMarketCap, the cryptocurrency has dropped 7% in the last 24 hours to $1,545.65. However, it has had a 92% rise over the week. This is an incredible run for the Shiba Inu offspring token. 

Being a memecoin, Doge Killer (LEASH), is subject to heavy volatility. Its popularity is pegged to its social media coverage. Hence, it could lose the attention of the masses very easily. Doge Killer reached a high of $8,983.59 a few weeks after its introduction in April 2021. It hasn’t come close to those heights since then. In other words, if users are not careful, they could lose a lot of money, so it’s critical to understand exactly what they are buying.

What is pushing LEASH’s popularity? 

LEASH, along with BONE, is an offspring token of Shiba Inu and runs within its ecosystem.  It is a native token of the ShibaSwap exchange. 

The increase in LEASH’s popularity follows Shiba Inu’s announcement of its metaverse plans, which included the debut of “Shiba Lands,” or Shiba virtual real estate, on its metaverse platform, codenamed Shiberse. Shiba’s creators recently announced intentions to establish a metaverse, with LEASH holders expected to be among the first to be able to buy territory. This added a huge push to LEASH’s popularity.  

According to Shaun Heng, Vice President of growth and ops at CoinMarketCap,

“The Shiba Lands Metaverse news is quite significant for LEASH, as it essentially posits the crypto as an exclusive ticket into Shiba’s corner of the metaverse, whatever that will be.”

But, in reality, the meme coin only has one mission: to kill Dogecoin, as its name suggests.

Dogecoin was the go-to meme coin for crypto investors long before Shiba and Doge Killer (LEASH). Dogecoin’s detractors, on the other hand, believe that it isn’t as “community-driven” as Shiba. 

While Tesla CEO Elon Musk can impact the price of Dogecoin on occasion, it has recently experienced less fluctuation compared to Shiba and Doge Killer. 

Shiba Inu and Doge Killer (LEASH) are both up 53% in the last month, whereas Dogecoin has only gained 2%.

Price Prediction

Given the volatility that cryptos like Doge Killer are exposed to, predicting where the price ends up will be difficult. However, that doesn’t stop price forecasters from giving their inputs. 

Doge Killer’s price is expected to plummet to $99.624 in a year, according to Wallet Investor. Meanwhile, DigitalCoinPrice predicts a price increase to $2,154.59. According to the crypto forecaster, the price will not break by $5,000 until 2028. In a “bull market,” Rio Rocket, a DeFi and NFT expert, believes the price will hit $2,200 in 2022.

Doge Killer’s value would have to more than triple to hit $5,000 in 2022. 

According to Heng, if the metaverse plan for Doge Killer pans out as planned, it may even be able to return to its all-time high. He went on to say,

“Investors might start feeling confident again about returning to LEASH to its ATH of 8k,”

At the time of publication, LEASH was trading at $1,510.06, up by 14.42%.