Pawswap (PAW), the decentralized exchange’s (DEX) altcoin project, which will soon enter the market, has witnessed another important milestone in the crypto world, with an incredible 2,721 percent increase over the past two weeks. According to Coinecko, the exchange built on the Shibarium network has maintained a steady rise in its price chart, marking an all-time high of $0.00000008662 just hours ago.
New altcoin hits record high
Pawswap was launched on February 6 and has quickly secured its position on five to six exchanges after that. The token is now listed on Bitrue and Biconomy and the results of this are expected to be seen after the DEX launch. Bitrue is ranked 24th by the CoinMarketCap crypto data website. Earlier this week, the PAW token was listed on another top 20 exchange, LBank. PAW support was also added by the Gate.io crypto exchange at the end of February. With this bullish news, the token price has now increased by 130 percent. At the time of this writing, PAW is changing hands at $0.00000007824. The increase in the value of the token has also led to the creation of a community for the new meme coin.
But before getting into Pawswap it’s important to understand what Shibarium is. Shibarium is a layer 2 scaling solution for Shiba Inu running on top of the Ethereum Blockchain. cryptocoin.com As we reported, this layer 2 blockchain provides the benefits of scalability, faster transaction times, lower fees, and an expanded development framework for SHIB ecosystem tokens, including SHIB, LEASH, and BONE.
Inspired by the success of the Shiba Inu, Pawswap (PAW) and its token are developed with decentralization at its core. PAW’s mission is to create a DEX that allows individuals to take control of their financial futures and provides a secure and user-friendly platform for trading cryptocurrencies. The Pawswap protocol and demand will largely determine the value of Pawswap, which will be one of the DEXs running on Shiba Inu’s L2, also known as Shibarium.
The supply of the token is 1 quadrillion
While the market value and circulating supply of the token have not yet been calculated, the total supply limit of the token has been set at 1 quadrillion PAW. Despite this, the increase in token value has been phenomenal, with 24-hour trading volume measuring $19.5 million. Pawswap’s presentation of a new design for the exchange website also helped keep the token’s attention. While Pawswap has no direct affiliation with the underlying network or Shiba’s developers, the confluence of exchanges and updates is exciting news for the crypto world. Investors are looking forward to seeing the benefits and results that will result from the launch of DEX.
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