From the same team that produced the Shiba Inu (SHIB) token, the Doge Killer (LEASH) token is one of the most popular meme coins on the market.
Just from the name alone, those in tune with the developments in the cryptocurrency industry will have a good idea of what Doge Killer is about. The name is a reference to Dogecoin, the original meme cryptocurrency and the first dog cryptocurrency. Dogecoin was launched back in 2013 as a joke by its developers. Over the years, however, the currency has become something altogether different, captivating the imagination of crypto investors and media outlets all over the world. Over the past year and a half, the coin has emerged as one of the most popular and controversial digital assets, thanks in large part to the support it has received from celebrities like Elon Musk.
Fueled by meme-laden tweets from the likes of Musk, the price of Dogecoin skyrocketed in 2021 and has since remained in the top 20 of cryptocurrencies in terms of market cap. One product of the success of Doge has been a proliferation of similar styled meme and dog coins that have tried to tap into the enthusiasm and market created by the original. Among the most successful of the lot have been Shiba Inu and its related Doge Killer. Originally, Shiba Inu was called the “Doge killer” due to its immense popularity. The coin has established itself as the second most popular meme coin and notched a place for itself just behind Doge in the top 20 coins by market cap.
The same group (or person), Ryoshi, who developed Shiba Inu developed Doge Killer. Originally, Doge Killer was intended to be a rebase token, or a token that has a fluctuating supply that changes in accordance with the token’s demand. Essentially, rebase tokens operate in a similar fashion to stable coins, only they maintain a constant value by reducing or increasing the total amount of circulating supply. Consequently, the number of tokens that a holder has may increase or decrease according to supply shifts, but the worth of the tokens will remain the same.