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Shibarium’s crypto gem? PAW token has grown by 94% in two weeks; how long will the rally last?

Andrew Zhoao

News editor

Mar 6, 2023 at 06:54

The native token PawSwap (PAW), a decentralized exchange built on the Shibarium ecosystem, continues its bullish rally. Thus, the asset grew by 22,87% for the last day — from $0.00000006623 to $0.00000008138. One of the reasons for such success is a row of listings at different exchanges, the number of which has already reached 12. How much the asset has grown during this time and whether it will continue to grow, we will discuss below.

What is PAW?

PAW is the native token of the decentralized PawSwap exchange, which in turn is the first DEX built on the Shibarium ecosystem an upcoming Layer-2 blockchain network that will be linked to the Shiba Inu coin. The platform is led by the community’s members.

According to the developer team, the project mission is to create a DEX that empowers individuals to take control of their financial future and provide a safe and user-friendly platform for trading digital assets.

“Our goal is to create a platform that is a community-driven, transparent, and accessible to all, built on the principles of security, autonomy, and freedom of choice. We believe in the power of decentralization to democratize finance and provide equal access to opportunities for all,” they say.

PAW serves as the gateway to PawSwap’s platform. With the end goal in mind, the team strives to create and transform the decentralized space through community-driven innovation.

PAW’s bullrun: the main reasons

The growth of the asset began in late February and is mainly due to listings on various exchanges. Here is, according to the official account, where the token was listed during this time. On all platforms, PAW is trading in pairs with USDT.

  • February 24 — Gate.io. 
  • February 27 — BitKan, LBank, and Bitget.
  • March 2 — Bitrue.
  • March 3 — MEXC Global.
  • March 4 — Biconomy.
  • March 6 — Hotbit and ZT Global.

Thus, from February 24 to March 6, the asset grew by 94,18% from $0.000000005234 to $0.00000008996.

The good news, which could also strengthen the PAW price, could be the information about trading volumes. According to the project team, PAW/ETH on ShibaSwapDEX exceeded $45.8B in the last week, and charges to the Shiba Inu ecosystem were $137K.

What is the current price, and where is the better price for buying PAW?

At the time of writing, the asset is trading at $0.00000009027, up 32,48% from a day ago. PAW has been on the market since early February, so these numbers are now historical highs. If you had bought in at the beginning, you would have made x18 of the invested amount at the peak.

Pawswap to USD chart
Pawswap to USD chart

But, despite the value growth, the trading volume for the last 24 hours has fallen by 20.65% and is equal to $13,784,251.

At the same time, the number of holders of the asset is growing. According to Etherscan, the daily increase was 244 (+3,037%). In total, PAW is now in 8,033 wallets.

As for trading, the asset can already be bought on twelve exchanges, among them:

  • Uniswap V2 and V3 V2 remains a major player for users looking to trade new pairs, while V3 has become a force to reckon with in the stable coin trading market.
  • Gate.io.
  • Bitget.
  • MEXC.
  • LBank.
  • ShibaSwap.
  • Bitrue.
  • Biconomy Exchange.
  • XT.COM.
  • Hotbit.
  • ZT Global.

The most beneficial exchange for trading PAW is Uniswap (V2). On the platform, the token trades at $0.00000008293 paired with WETH wrapped Ethereum.

As for the trading volume, over the past 24 hours, the asset was traded the most on the Gate.io exchange. On the platform, the figure was $4,487,354 paired with USDT. And tokens are sold at $0.000000092847.

Will the token continue to grow? PawSwap’s upcoming plans

The team’s future plans may also affect the rise or fall in the value of the asset. PawSwap has already passed its initial alpha testing. Nodes are being implemented, and, according to the developers, when they are completed, the platform will be fully functional. It is planned that the exchange will be launched before the launch of Shibarium, which, in turn, is also already at the final stage.

“As soon as Shibarium is live, PawSwap multichain DEX will be fully implemented with [the] support of the Shibarium network. To do this, it was vital that we amplify our development speed of BETA to allow for pre-launching testing prior to Shibarium release,” says the announcement.

Another important event that will take place very soon as part of the PawSwap launch is token burning. According to CoinMarketCap, the developers have already released one quadrillion PAWs, and their number will gradually decrease, just like in the case of the Shiba Inu. The nearest event, according to the announcement, will take place next week. We can therefore expect the value of the asset to rise even more. But before you invest blindly, do your own research.

At the same time, it is worth keeping an eye on listing announcements. Considering that PAW is already listed on 12 platforms, one of which is one of the largest crypto exchanges in Singapore (MEXC), there is a high probability that the listings will continue.

Do you think PAW is like that crypto gem that everyone is looking for? Or is it just a little passable token? Share your opinions in the comments.

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