Shibarium DEX Volume Crashes 97% as Shiba Inu Activity Dries Up

Summary

• Shibarium DEX volume plunged 97.46% over the week, leaving trading activity at only $1.81 amid weaker participation across decentralized exchanges.
• Shibarium’s total value locked reached approximately $102,324, showing that deposited liquidity remained relatively stable despite the severe decline in trading activity.
• WoofSwap dominates Shibarium’s DeFi liquidity with about $86,018 locked, while ShibaSwap, Shibex, and DogSwap account for significantly smaller amounts.

Shibarium has recorded a 97.46% weekly collapse in decentralized exchange volume, highlighting extremely weak trading participation across Shiba Inu’s layer two network.

Data from DefiLlama places Shibarium’s DEX trading volume at only $1.81. The figure reflects limited activity among traders using decentralized exchanges within the ecosystem.

Shiba Inu’s broader market weakness has also weighed on participation across applications connected to its layer two network. Investors have become more cautious as SHIB struggles with persistent selling pressure.

Consequently, fewer traders appear willing to move capital through Shibarium’s decentralized exchanges. Lower transaction activity can also restrict liquidity movement between tokens and reduce overall market participation.

However, percentage changes can appear particularly large when trading volumes already sit at relatively low levels. Shibarium’s 97.46% decline therefore reflects both weakening participation and its small existing DEX market.

Moreover, a recovery in SHIB demand could encourage greater usage across applications built on Shibarium. Stronger market participation could subsequently bring additional liquidity and trading activity into its decentralized exchanges.

Also Read: Solana Lands on XRP Ledger DEX as XRPL Director Issues Key Token Warning

Shibarium TVL Holds Above $102,000 Despite DEX Weakness

Shibarium’s total value locked has shown greater resilience than its decentralized exchange volume. DefiLlama places the network’s TVL at approximately $102,324.

The figure represents a modest 0.13% increase over 24 hours. Therefore, capital deposited within Shibarium protocols has remained comparatively stable despite declining trading activity.

WoofSwap Shibarium controls the largest portion of liquidity among decentralized exchanges operating on the network. Its TVL stands at approximately $86,018 following a 3.18% increase.

Meanwhile, ShibaSwap holds around $6,893 in total value locked. Shibex follows with approximately $4,264, while DogSwap accounts for roughly $3,855.

Significantly, WoofSwap represents most of the liquidity currently deposited across Shibarium’s decentralized exchanges. This concentration leaves a relatively small portion distributed among competing platforms.

Additionally, the contrast between TVL and trading volume provides a clearer view of current network conditions. Users still hold capital inside protocols, although active token swapping remains extremely limited.

Broader cryptocurrency market conditions could influence whether those deposits eventually translate into stronger trading activity. Improved demand for SHIB may also support greater engagement with Shibarium applications.

For now, Shibarium’s DeFi market shows two different trends. Locked liquidity remains above $102,000, while decentralized exchange trading has fallen to exceptionally low levels.

Also Read: Dunamu Profit Slumps 73% as Upbit Trading Activity Weighs on Q2 Results

The post Shibarium DEX Volume Crashes 97% as Shiba Inu Activity Dries Up appeared first on 36Crypto.