Shiba Inu: Shibarium DEX Volume Drops to Zero as DeFi Activity Nearly Vanishes
Trading activity across the decentralized finance (DeFi) ecosystem on Shiba Inus L2 blockchain, Shibarium, has disappeared, as DEX volume currently sits at zero. At press time, Shibarium DEX volume stood at zero, according to data from DeFiLlama, reflecting extremely weak on-chain participation. Zero Trades Since June 23 Decentralized exchanges operating on Shibarium, including WoofSwap and ShibaSwap, have recorded no trading activity since June 23. The last recorded DEX transaction on the network occurred on June 22, when traders exchanged just $60 worth of assets. Furthermore, throughout most of June, daily trading volumes on these platforms remained below $100, underscoring the lack of activity across the ecosystem. The slowdown highlights Shibariums struggle to attract meaningful DeFi adoption since its launch. Shibarium DEX VolumesDwindling DEX Activity After the mainnet went live in August 2023, the network initially showed encouraging signs of growth. DEX volume reached $6,800 in October 2024 before climbing to $54,000 in December 2024. However, activity weakened in the following months. Although the development team attempted to revive optimism by promising faster ecosystem growth and higher DEX participation, trading activity continued to decline. Shibarium briefly recovered in September 2025, when DEX volume rose to $47,000, before reaching a cycle peak of $86,000 in December 2025. Since then,