• Investors overlooked contributing to ShibaSwap’s TVL.
• SHIB’s volume remains unimpressive while its price shredded significant numbers in the last 90 days.

At the height of the 2021 bull market, Shiba Inu [SHIB] was at the forefront of leading price rallies. This performance, and the attention it gained, led ShibaSwap’s Total Value Locked (TVL) to hit as high as $1.75 billion.

For the unfamiliar, ShibaSwap is the native Decentralized Exchange (DEX) of the Shiba Inu ecosystem. The TVL measures the way users provide liquidity to stake and swap tokens on the exchange. 

Unfortunately, the same TVL, which was in the billion-dollar range, had decreased massively. According to DefiLlama, ShibaSwap’s TVL was now $25.16 million.

No longer enticing to the big guns?

This depicts a situation where investors were no longer interested in adding volume to the smart contracts projects under the ecosystem. This affected ShibaSwap’s revenue and fees generated, all the while sparking speculation about a liquidity squeeze.

In crypto, a liquidity squeeze occurs when there is a lack of deposits and conversion in transactions in a cryptocurrency. Sometimes, this results from the lack of contribution by whales.

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Author: Victor Olanrewaju

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