Shiba Inu Token Eyes Delisting From Major Exchange: What's Happening?

It has just been announced that the world's second largest cryptocurrency exchange, OKX, will delist LEASH, a token from the Shiba Inu ecosystem. Along with SHIB and BONE, this token is one of the essential elements of the space around the popular meme-inspired cryptocurrency.

For those who may not know, LEASH was launched in 2021 by anonymous Shiba Inu creator Ryoshi. From the beginning, it was stated that the token would be used to buy land in the metaverse project built around the meme coin. In addition, LEASH was used in the presale of the Shiba Inu-centric NFT collection of Shiboshis.

However, all of these factors were unimportant for the OKX team, who decided to remove the Shiba Inu token from their platform. 

Along with five other cryptocurrencies whose names will be remembered by those who entered the market years ago, LEASH was ordered to exit. The rationale behind the delisting is to maintain a robust spot trading environment and get rid of assets that do not meet listing criteria.

No need for LEASH?

According to CoinMarketCap, the exchange was the largest market for LEASH in terms of liquidity, accounting for 24.78% of the token's total turnover. 

LEASH to USD by CoinMarketCap

However, in monetary terms, it was only around $576,000 - an awfully small amount for the cryptocurrency market and especially for a listing on the second largest platform that held it.

It seems logical that with the metaverse and the NFT sector of the crypto market, the assets associated with it and its a corresponding utility will be forgotten and delisted. Shiba Inu did not make much progress with its metaverse project, focusing more on Shibarium. Thus, it is not surprising what reputation LEASH has, as its prospects are, to put it mildly, very unclear.