Shibarium DEX Volume Crashes 95% Amid Trader Caution

Shibarium, the layer-2 network of Shiba Inu, has seen a significant decline in decentralized exchange volume. The DEX volume dropped by 95% to just $72 this week.

This sharp drop highlights a slowdown in DeFi activity on the network. Most decentralized exchanges like WoofSwap and DogSwap reported zero trading activity, while only ShibaSwap contributed modest volume.

The decline suggests traders are hesitant to engage with Shibarium despite Shiba Inu's recent price surge. This cautious behavior is likely due to the uncertainty surrounding Shiba Inu's market performance.