• Pawswap has launched its PAWBURN portal.
• PAW price decreased by over 13% in the last 24 hours.
• Since the introduction of the burn portal, total of 27,407,234,934 PAW has been burnt.
Pawswap Launches PAWBURN Portal
Pawswap, a multi-chain decentralized exchange (DEX) planned to be built on Shiba Inu’s layer-2 blockchain ‘Shibarium’, has launched its “PAWBURN” portal. This will track all utility burns from their swap and all future utilites. As a result of this launch, the native crypto token PAW price declined by over 13% in the last 24 hours.
Current Status Of Pawswap
Since the introduction of the burn portal, total of 27,407,234,934 PAW has been burnt and is worth about $2053 according to data. At the time of writing it traded at $0.00000007357 with 24 hours trading volume of $12 million and a market cap of over $73 million. Despite this dip in prices it is still up by 110% in a week and 2092% in the last 14 days and has gained support from many crypto exchanges such as LBank and Gate.io.
Background Information
Crypto Twitter was abuzz with news regarding dog-themed memecoins updates since early this year when Shiba Inu became well known for its upcoming layer-2 scaling solution “Shibarium”. Following that was the announcement for Pawswap which was inspired by SHIB’s success although SHIB or its team have no relationship with Pawswap officially according to lead developer Shytoshi Kusama .
Price Prediction For 2023
The token price may increase in the future due to its new burn mechanism as well as Shibarium launch which may result in further positive growth for PAWSWAP native crypto token PAW . It remains to be seen if it reaches higher figures than current levels as many speculators predict .
In conclusion , PawSwap’s launch of their new “PAWBURN” portal could potentially bring more value to their meme token , resulting in short term dips but long term gains . Although there is much speculation surrounding whether these predictions will come true , only time will tell what happens next !