Solana News Today: Shiba Inu Warns of Fake Solana LEASH Token Scam Amid 17% Price Drop

Shiba Inu (SHIB) investors and users are being warned of an emerging scam involving a token within its ecosystem. A prominent account on X, known as Susbarium and followed by members of the SHIB community, has issued a direct alert that there is no official $LEASH token on the Solana blockchain [1]. The LEASH token, which is part of the Shiba Inu ecosystem and functions as an ERC-20 token on Ethereum, has recently seen a significant drop in value—over 17% in a single day—bringing its price to $85 [1].

The warning comes as online claims have surfaced suggesting that LEASH has been launched on Solana, prompting confusion among investors. These claims have been debunked by Susbarium, who emphasized that only the Ethereum-based version of LEASH is legitimate and advised users to verify all claims using the Shiba Inu official token portal [1]. This portal serves as a critical tool for distinguishing between genuine and fraudulent projects within the Shiba Inu ecosystem.

The Shiba Inu project, which began as a meme coin and a direct competitor to Dogecoin, has attracted a large and active community, often referred to as the “SHIB Army.” However, the project's popularity has also made it a target for scammers [1]. SHIB currently holds the position of the second-largest meme coin by market capitalization but has experienced an 11% decline over the past month [1].

The ecosystem includes several tokens such as SHIB, TREAT, BONE, and LEASH, all of which remain frequent targets of fraudulent activity due to their widespread appeal and relatively low market valuations [1]. Analysts have noted that increased regulatory scrutiny could heighten volatility and create uncertainty for the project [2]. While SHIB remains listed on major exchanges like Binance, its performance is largely driven by community sentiment and social media trends rather than traditional financial fundamentals [5].

The emergence of new meme coins on the Solana network has further intensified competition in the space [5]. This environment underscores the importance of due diligence for investors, who must remain wary of misleading information, fake projects, and phishing attempts. As the Shiba Inu community continues to expand, it must also navigate the growing risks associated with speculative trading and regulatory developments.

Source: [1] SHIB Army Beware: Major Warning for All Shiba Inu Investors and Users, (https://coinmarketcap.com/community/articles/68a083186e5e8422235c2d6c/)

[2] Shiba Inu Coin News: What's Going on With Shiba Coin?, (https://www.markets.com/en-vi/news/shiba-inu-coin-news-what-s-going-on-with-shiba-coin/)

[5] The 5 Best Solana Meme Coins to Buy in 2025 - Updated List, (https://99bitcoins.com/cryptocurrency/best-solana-meme-coins/)