Shibarium DEX Volume Crashes 97% Amid Broader Market Downswing

The Shibarium layer two network has experienced a significant decline in its decentralized exchange (DEX) volume, plummeting by an astonishing 97.46% over the last week.

This dramatic drop is part of a broader market downturn that has seen Shiba Inu consistently trade in the red, causing investors and traders to exercise caution across the broader ecosystem.

Despite this decline, analysts predict that a strong recovery in the broader crypto market could drive renewed interest in SHIB, potentially bringing liquidity back to Shibarium.

In a glimmer of hope for the network, its total value locked (TVL) has seen a modest increase of 0.13% over the past 24 hours, reaching $102,324.