Main navigation

Shiba Inu's LEASH Hits Major Price Point After Rallying 60%, Here's What's Next

Thu, 02/23/2023 - 13:24
article image
Gamza Khanzadaev
Shiba Inu's Doge Killer LEASH reaches fundamental resistance level at $700
Shiba Inu's LEASH Hits Major Price Point After Rallying 60%, Here's What's Next
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The Shiba Inu ecosystem token, LEASH, maintains positive momentum and continues to show strong price action as of late. During today's trading session, LEASH is up 3% in price and was even up more than 6% at one point. What matters, however, is not the percentage increase, but where this action pushes the LEASH price, as the token attempted to break the important $700 level again today.

LEASH to USD by CoinMarketCap

Shiba Inu (SHIB) Comes to $0.0000135 Following Growth of Leash and Other Shiba-Related Assets

Backbone of LEASH price action

Breaking and holding above that level, as reported by U.Today earlier, could trigger a reaction and send the token to test levels near the $1,000 zone. Such a scenario is possible due to a number of factors, the first of which is that there are no visible obstacles on the token's chart between $700 and $1,000. As an example, the last time LEASH pushed back from $700, it rose more than 160% in two weeks.

Among other factors is the relatively low capitalization of LEASH compared to other tokens in the Shiba Inu ecosystem, SHIB and BONE, both of which have made it into the CoinMarketCap ranking of the top 100 cryptocurrencies.

Shiba Inu (SHIB) Payments Accepted at Retail Stores in France via This Partnership

LEASH's low presence on key crypto exchanges also contributes to sharp price fluctuations, unexpected pumps, but also equally unexpected dumps. By comparison, the token's current trading volume on centralized exchanges is half that of decentralized exchanges, at $640,000.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.