Shibarium Posts 97% Decline in DEX Volume as Shiba Inu Extends Downtrend

Shiba Inu's layer-two network, Shibarium, is experiencing a notable slowdown in its DeFi activity as Shiba Inu struggles to rebuild momentum.

Caroline Amosun · 15 Aug 2026 · 4 min read

Wire content from U.Today

Shibarium Posts 97% Decline in DEX Volume as Shiba Inu Extends Downtrend

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By
Caroline Amosun

Sat, 15/08/2026 – 13:05

Shiba Inu’s layer-two network, Shibarium, is experiencing a notable slowdown in its DeFi activity as Shiba Inu struggles to rebuild momentum.

Shibarium Posts 97% Decline in DEX Volume as Shiba Inu Extends Downtrend

Cover image via U.Today

What’s behind the drop?
Shibarium sees decent TVL growth

The slowdown in the Shiba Inu ecosystem has also extended to its layer two network, Shibarium, as participation across its spot and DeFi markets continues to hit low levels.

While its volatile price movements still persist, the latest data from DefiLlama shows that its DEX volume is heading towards zero as momentum remains bearish.

What’s behind the drop?

The data shows that the DEX volume of the Shibarium network has plunged significantly by 97.46% over the last week, as its decentralized exchange activity slows down.

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This shows that trading activity across the Shibarium layer two network is sitting at just $1.81.

The decline has arrived amid 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.

Shibarium sees decent TVL growth

Despite the slowdown in the Shibarium DEX volume, the network has seen a modest increase of 0.13% in its total value locked (TVL), which is sitting at about $102,324, over the past 24 hours.

Among all decentralized exchanges operating on the network, WoofSwap Shibarium dominates, accounting for the largest share with about $86,018 in TVL after a 3.18% surge over the last day.

ShibaSwap, on the other hand, follows with about $6,893, while Shibex and DogSwap hold about $4,264 and $3,855, respectively.

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