shiba inu one of the most important coins of the ecosystem PawSwap (PAW) It has attracted all the attention with the rise it has achieved today. While the meme coin was trading at $ 0.0000000643, it suddenly increased to $ 0.00000009657 and increased by 50.18%.
So what is the reason behind the rise? An updated team to explain According to PawSwap burning process will be started soon. The official account of PawSwap decentralized crypto exchange (@PawShibarium) told the SHIB community to “anticipate great things next week.” The post shared in the tweet features a Shiba Inu dog with his back on fire, which reads “PAWBURN starting soon.”
Dear #PAWFAMILYexpect amazing things coming next week!#pawswap $PAW pic.twitter.com/tr9QXVzxgJ
— Pawswap – The Shibarium DEX (@PawShibarium) March 5, 2023
NEWS CONTINUES BELOW
Burning allows the circulating supply of a token to be greatly reduced, making it a more limited asset. There is a belief that less supply will increase the price. Therefore, the news of the burning caused the price to increase.
Besides, meme coin has been listed by many exchanges recently. In the past few weeks, support has been added by eight crypto exchanges, including some of the top 25 platforms such as Gate.io, LBank, Canadian exchange Biconomy, and the like.
PawSwap (PAW) will be the native token of the first multi-chain decentralized trading place to be built on Shibarium at launch.
You can follow the current price action here.