Shibarium's decentralized exchange volume has dropped 97.46% over the past week, with trading activity on the Shiba Inu layer-two network falling to just $1.81. The slowdown comes as SHIB extends its broader downtrend, even as the network's total value locked ticked up slightly.
Shibarium's DEX volume has collapsed 97.46% over the last week, according to data from DefiLlama. Trading activity across the Shiba Inu layer-two network now sits at just $1.81.
The drop extends a broader slowdown across the Shiba Inu ecosystem, as Shibarium's spot and DeFi markets continue to see low participation. Prices remain volatile, but DefiLlama's data shows DEX volume heading toward zero as momentum stays bearish.
What's driving the decline
The decline has arrived amid a broader market downturn that has kept Shiba Inu trading in the red, pushing investors and traders toward caution across the wider ecosystem. Analysts say a strong recovery in the broader crypto market could still drive renewed interest in SHIB.
If that interest returns, the layer-two network could regain stronger user activity, which would help bring liquidity back to Shibarium.
TVL holds up despite the slowdown
Despite the drop in DEX volume, Shibarium has seen a modest 0.13% increase in total value locked, now at about $102,324 over the past 24 hours.
Among the network's decentralized exchanges, WoofSwap Shibarium dominates with about $86,018 in TVL after a 3.18% surge over the last day. ShibaSwap follows with about $6,893, while Shibex and DogSwap hold about $4,264 and $3,855, respectively.
Source: U.Today
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