The crypto world has witnessed yet another significant milestone as Pawswap (PAW), the native token for the upcoming decentralized exchange (DEX), has surged an incredible 2,721% in the last two weeks. According to Coingecko, the exchange built over the Shibarium network has maintained a steady increment in its price chart, marking an all-time high of $0.00000008662 just a few hours ago.
Pawswap was launched on February 6th and quickly secured its position in five to six exchanges after that. The token has now been listed on Bitrue and Biconomy, with the benefits and outcomes expected to be witnessed after the launch of the DEX. The rise in the token’s value has also prompted the construction of a community for the new memecoin.
It is essential to understand what Shibarium is before delving into Pawswap. Shibarium is the Layer 2 scaling solution for the Shiba Inu coin, which runs on top of the Ethereum blockchain. This Layer 2 blockchain provides the benefits of scalability, faster transaction times, lower fees, and an expanded development framework for the SHIB ecosystem tokens, including SHIB, LEASH, and BONE.
We hope you like the new refreshed look of our $PAW DEX! Check it out at https://t.co/DfkR3OYlUz#pawswap pic.twitter.com/stEFBp9BhE
— Pawswap – The Shibarium DEX (@PawShibarium) March 2, 2023
Inspired by Shiba Inu’s success, Pawswap (PAW) and its token were developed with decentralization at their core. The mission of PAW is to create a DEX that empowers individuals to take control of their financial future and provides a safe and user-friendly platform for trading cryptocurrencies. The Pawswap protocol and its demand will largely determine the value of Pawswap, which will be one of the DEXes running on Shiba Inu’s L2, also known as the Shibarium.
While the market cap and circulating supply of the token are not yet being calculated, the total supply limit of the token is set to be 1 quadrillion PAW. Despite this, the rise in the token’s value has been phenomenal, with a 24-hour trading volume measured at $19.5 million.
Pawswap’s introduction of a new design for the exchange website has also helped place the spotlight on the token. While Pawswap has no direct relationship with the underlying network or Shiba’s developers, the coming together of exchanges and updates is exciting news for the crypto world. Investors will be watching with bated breath to see the benefits and outcomes that will result from the launch of the DEX.
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