The crypto world has witnessed another major milestone, with upcoming decentralized exchange (DEX) native token Pawswap (PAW) up a staggering 2,721% over the past two weeks. According to Coingecko, the exchange built on the Shibarium network has been seeing steady gains across the charts, hitting an all-time high of $0.0000008662 a few hours ago.
PAWSWAP (PAW) price chart. Source: Coinecko
Pawswap was launched on February 6, and quickly locked in the top 5 or 6 after its release. The token is now listed on Bitrue and Biconomy and is expected to bring many benefits and great results after the DEX launch. The increase in token value also prompts the building of communities for new memecoins.
This token is in #Shibarium Layer 2 Soars 2.721% in Just Two Weeks $PAW @azcoinnews https://t.co/FsZCUH73Ho
— Kyptos (@azcoinnews) March 3, 2023
Before diving into Pawswap, it is crucial to understand what Shibarium is. Shibarium is Shiba Inu’s layer 2 scaling solution, running on the Ethereum blockchain. This layer 2 blockchain offers scalability, faster transaction times, lower fees, and an expanded Shiba Inu ecosystem token development framework, including SHIB, LEASH, and BONE.
Inspired by the success of Shiba Inu, Pawswap (PAW) and its token were developed on the premise of decentralization. PAW’s mission is to create a DEX that empowers individuals to take control of their financial future and provides a secure and user-friendly platform for trading cryptocurrencies. The protocol itself and its needs will largely determine the value of Pawswap, which will be one of Shibarium, Shiba Inu’s L2-based decentralized exchange.
While the market capitalization and circulating supply of the token are yet to be accurately calculated, the total supply of the token is capped at 1 quadrillion PAW. Even so, the token’s value growth has been staggering, with measured 24-hour trading volume reaching $19.5 million.
The new design that Pawswap has introduced for the exchange website has also drawn attention to the token. While Pawswap has no direct relationship with the underlying network or the developers of Shiba Inu, the combination of the swap and the update is exciting news for the crypto world.
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according to Kyptos