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HomeCrypto NewsMarketSHIB Based PawZone Dispels Insider Trading Claims Following Launch on ShibaSwap and CMC

SHIB Based PawZone Dispels Insider Trading Claims Following Launch on ShibaSwap and CMC


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The token launched on ShibaSwap on March 26, attracting over 3,000 holders in less than a day.

PawZone, a project based on Shiba Inu’s Shibarium network, has officially launched its native token PawZone (PAW). However, following the launch, accusations of insider trading surfaced. JD, founder of PawZone and a Shiba Inu community member, recently dispelled these claims.

PawZone’s Token Launch

The PawZone team officially launched the token two days ago on ShibaSwap, Shiba Inu’s decentralized exchange. The launch came almost two weeks after the team behind the project announced plans for an impending “fair launch” on ShibaSwap.


Shortly after the launch, the token saw a massive trade activity and renown surge. Notably, leading crypto price-tracking resource CoinMarketCap (CMC) listed the asset less than a day after its launch. The asset is currently on the watchlists of 458 CMC users.


The PawZone token also saw a rapid increase in unique holders, as its total holders soared above the 3,000 thresholds in less than 24 hours. The token now boasts 3,392 holders. Moreover, trade volume increased to $40 million as of March 27. 

JD Addresses PawZone FUD

Amid the bullish turn of events, DeFi Kraken, a pseudonymous Shiba Inu community member, called attention to an alleged insider trading scheme carried out in tandem with the PawZone token launch.


He pointed out a transaction carried out by an unidentified wallet address involving a large volume of PawZone tokens. The address had procured 28.4 billion tokens minutes before the announcement. The disclosure triggered insider trade speculations, defeating the “fair launch” narrative.

Responding to the growing FUD, JD took to Twitter today to dispel the claims of insider trades. He said he had to mitigate the tokens and allocate them in smart contracts before the token launch to confuse trading bots. This underscores the magnitude of efforts he put in to reduce the chances of insider trading.

“There were no insider trades. I didn’t even tell my own admin that have stuck by my side through the years to be as fair as possible. I’ve been in this community longer than most and have been supporting it ever since. I didn’t work this hard on #PawZone to just make a quick profit off of a token,” he added.


JD further disclosed that he still holds his PawZone bag and even amassed more tokens following the launch. In addition, he highlighted that 100% of the token’s liquidity is locked, with an unlock rate of 20% for the next 6 months and 80% for the next 2 years.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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