Shiba Inu ecosystem tokens BONE and Doge Killer LEASH — yes that's the full name — continue to show double-digit percentage price increases. Both tokens are up more than 13% and 10%, respectively, since the opening of today's trading day. Most interestingly, at the same time, the main ecosystem token, SHIB, has been trading in an extremely tight range of $0.000012 to $0.000014 for the past four weeks.
The reasons for BONE's 125% year-to-date growth have been covered in detail by U.Today previously. As for now, despite the positive sentiment in BONE, looking at its price chart, it seems that the upside potential is somewhat exhausted. The token is now trading near its local high of $2 and, until it is overcome, it is too early to speculate on anything more.
Doge Killer (LEASH) price action
LEASH, on the other hand, has always been in the shadow of SHIB and BONE until it soared in price by more than 50% in the past week.
LEASH does not have the utility of a similar scale in Shibarium. The reason for its recent explosive price action most likely lies in the undervaluation of LEASH against BONE and SHIB. For example, the token currently has a market capitalization of $75.5 million, according to CoinMarketCap, versus $430 million for BONE and $7.43 billion for Shiba Inu.
Looking at the LEASH chart, if the positive momentum continues and the token breaks through the important resistance level of $700, the next target could be $1,000.