PawSwap community may be led to believe PAW is going to be listed on Binance and burn 4 zeros

A recent tweet from Binance CEO Changpeng Zhao, also known as CZ in the cryptocurrency world, triggered a contentious debate in the community for the just-launched meme token PAW. For your information, PAW is the native coin of the PawSwap dex that intends to run on Shibarium.

Some members of the PAW community could have thought that CZ’s tweet hinted at an impending rise in the price of PAW. In the meantime, a tweet sent out by Binance earlier suggested that the top cryptocurrency exchange may soon introduce PAW functionality.

A picture of a dog sporting a cap with a Binance logo is included in the tweet. “Added a Binance hat to his paw-tfolio,” it says. The “paw-tfolio” component was what the PAW community found exciting.

@SamuraiShiba and @Dezaxe, two prominent SHIB supporters, replied to CZ’s tweet with the hashtag “remember 4.” In a lighthearted tweet, @SamuraiShiba joked that CZ has begun a mission to assist PAW in losing four zeros while tagging PawSwap DEX. With the caption “4 the people, by the people,” @Dezaxe shared a picture of a dog’s paw bearing the PAW insignia.

Since its introduction on February 6, PAW has been listed on ten cryptocurrency exchanges. They include some top-25 exchanges, including LBank, MEXC, and Gate.io. The market value of the coin is getting close to $100 million. On CoinMarketCap, the token is now valued at $0.00000008704. The introduction of the PawSwap multi-chain DEX on Shibarium is anticipated for Q3 of this year or Q1 of 2024.

Regarding CZ’s tweet, its author has not provided any clarification as to what it means. The PAW issuer, PawSwap, said earlier today that PAWBURN would soon be available. The community should “expect some spectacular stuff next week,” according to the Twitter message.

According to a screenshot posted by a SHIB enthusiast, a website that lets users track PAW burns will be live on Monday. There is one quadrillion PAW available worldwide. The PawSwap creators will reportedly start locking PAW in unspendable wallets, otherwise known as “burning,” similar to other meme coins like SHIB, BabyDoge, etc., and not just meme cryptocurrency.

The circulating quantity will be decreased as a result, increasing the token’s scarcity and, in the event that many tokens are burned, potentially driving up the price.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like