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.
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.