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PawSwap (PAW), a decentralized exchange (DEX) on the Shibarium protocol, is riding the bullish train today, with its price jumping by 14.59% to a price of $0.00000004951, forming its highest price over the past week. The PawSwap momentum is perhaps a strategic leaning on both the growth of Shiba Inu, as well as that of the Ethereum protocol, atop which both are dependent.
As the native token of a potential dominant decentralized exchange billed for the Shibarium protocol, the PAW token has been hiding under the hype surrounding both the Shiba Inu meme coin and the Layer 2 protocol. However, the current growth it is charting is also being backed by its support and listing by numerous crypto trading firms.
Just this April, Biconomy launched the PAW/USDT trading pair, while the same pair went live on Bitrue as well.
🚀 #Biconomy #PAWSWAP ( $PAW) #Airdrop campaign🚀
— Biconomy 🌐 (@BiconomyCom) March 3, 2023
To celebrate the listing of @PawShibarium we will #giveaway 12,800,000,000 #PAW 🚀
✅1: Fill form
✅2: Trading BIT/USDT > 30USDT, will win 15M PAW.🔥
> 60USDT will win 75M PAW🔥
Full Details 👉 https://t.co/B2ji3fAe1Y#crypto pic.twitter.com/9lteZNgkNo
Support for PAW is deemed as outright support for Shibarium, and besides these two trading platforms, other exchanges, including MEXC Global and BitGet, have also floated trading pairs for the PAW token. In all, the digital currency has also received backing from Now Wallet, among other top infrastructure service providers in the digital currency ecosystem.
Expanding PawSwap and Shibarium ecosystem
The listing of PAW token by different exchanges and wallet service providers is tantamount to a vote of confidence on PAW and the broader future of the Shiba Inu-backed Shibarium protocol.
By opening more access where PAW can be traded, the coin is receiving the right liquidity that can help broaden its user base and adoption across the board. With the token brandishing more defined utility than the meme coin that birthed it, its price is not reflecting this fundamental at the moment, implying more room for growth.
With the current rally, PAW is looking at retesting its ATH price of $0.0000001007.
Alex Dovbnya
Valeria Blokhina
