Why Shiba Inu's Doge Killer Token Has Suddenly Shot Up 40%

Doge Killer LEASH/USD, a Shiba Inu SHIB/USD ecosystem token, shot up 40% to $1,774.70 early Wednesday.

The spike came as the team behind the Shiba Inu project announced it would soon introduce plots of virtual lands in an upcoming metaverse.

Why Is It Moving: "We are happy to announce and proudly introduce Shiba Lands," the project said. "These 'lands' found inside our Metaverse will be available for purchase/auction really soon, and it will be our first step towards allowing the community to jump into the Metaverse prior to its full release!"

Shiba Inu acknowledged early moves in the space from projects like Sandbox and Decentraland. "We understand the potential, expandability, and performing evolution that this type of Metaverse option brings to the community," it said.

The Dogecoin DOGE/USD rival said it was also working on a queue system "specifically designed for the Shiba Land sales event," which it said would aid in the prevention of Bots and Gas Wars.

"This queue allows exclusivity by requiring interested parties to hold "$LEASH", which gives priority and exclusive access to this first selling phase of the land plots in our Metaverse," Shiba Inu said.

See Also: Dogecoin Rival Shiba Inu Is Soaring Ahead Of A Key Event Planned For Valentine's Day