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LEASH LucieSHIB/Twitter

KEY POINTS

  • LEASH saw more than 5% surge Monday following Kusama's tease
  • The lead developer assured the community that LEASH will get a new important role
  • As of 2:09 a.m. ET on Tuesday, LEASH was trading up at $595.336

Doge Killer LEASH, the ERC-20 decentralized token of the Shiba Ecosystem, has skyrocketed as the community anticipates the announcements of major updates its pseudonymous lead developer Shytoshi Kusama previously teased about.

While the Shib Army, the ever-supportive, fierce and loyal members of the Shiba Inu community, is hyped about the possible launch of the eagerly awaited layer-2 scalability solution Shibarium, Kusama, over the weekend, penned a short post addressed to LEASH holders.

"Dear LEASH Holders. As you know, EXCLUSIVITY is the key utility of Leash and I have an exclusive exclusive for you all TUESDAY 1 PM EST," the lead developer said, before adding, "Then on Wednesday, a new utility for Leash will be unveiled."

When Kusama was asked if they are excited about LEASH, they responded, "Sure am. it's just a bonus and gives Leash a very important role."

The lead developer further hyped the community when they teased that LEASH "won't be the only new thing we announce. There's lots coming."

Following Kusama's tease, LEASH surged by 5.16% and traded at $609.06 from its previous price of $579.15, based on the data from CoinMarketCap.

"Lead developer Shytoshi Kusama told on Shibarium Discord that a new utility will be unveiled for Leash on Wednesday," a Shib Army and X user who uses the handle @Shib Knight and is also a chart analyst told the International Business Times when asked why the token suddenly saw a price surge.

Aside from being one of the native cryptocurrencies of the Shiba Ecosystem, LEASH, when staked on ShibaSwap, the decentralized exchange (DEX) of Shiba Inu, offers its holders the opportunity to gain substantial rewards.

The development team designed LEASH as a special token for loyal supporters of the Shiba Ecosystem, allowing its holders to get exclusive perks as well as access.

In the past, liquidity providers on ShibaSwap received incentivized BONE rewards, exclusive access to the minting of Shiboshis, the ecosystem's non-fungible tokens, and early access to the land sales of "Shib: The Metaverse."

As of 2:09 a.m. ET on Tuesday, LEASH was trading up at $595.336, with a 24-hour trading volume up by 10.39% at $2,235,757, representing a 4.94% price increase in the last 24 hours and a 15.87% gain over the past seven days.

LEASH's total circulating supply stands at 106,297 LEASH, with its value up by 6.05% at a $63,356,054 market cap, according to the latest data from CoinMarketCap.

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