Shiba inu blockchain's waveforms, particularly activity in its transaction volume, is quite lagging behind other networks such as polygons and bases.
Shibarium, Shiba Inu's layer 2 blockchain, has experienced exponential growth since its launch on Mainnet in August 2023. In particular, it is positioned as an established blockchain, processing over 1.04 billion transactions. Also, since the launch of Mainnet, around 200 million blockchain wallets have interacted with Shibarium.
While these milestones are admirable, DexScreener's fresh data suggests that Shibarium has a lower daily trading volume compared to other layer 2 blockchains such as Basics and Polygons.
Shiba Inu Shibarium Low Daily Volume
At press time, Shibarium boasts a 24-hour volume of around $17,000 across all decentralized exchanges (DEXS) on the L2 blockchain. The volume came from a total transaction of 11,025.
Shibarium Dex Volume
At this time, Woofswap is ranked as the best decentralized exchange in shivalium. This Dex has a volume of about $8,300 each day.
Woofswap is followed by Shiba Inu's native Dex, Shibaswap, with a 24-hour volume of $5,400. Chewyswap and Marswap follow with daily trading volumes of $1,600 and $102 respectively.
Punkswap and Chibbex have seen a small amount of $20 and $6 respectively. Other ripple-based decentralized exchanges, including Dogswap, Woof and Leetswap, trade daily volumes total under $10. According to DexScreener data, these Dexes volumes total to around $17,000.
Polygons and base volume
In comparison, established L2 blockchains such as bases and polygons register daily volumes ranging in hundreds of millions of dollars.
Coinbase's base network, launched around the same time as Shibarium in August 2023, currently has a 24-hour volume of $726.1 million. Meanwhile, Polygon recorded a daily trading volume of $70.9 million.
Essentially, Shibarium's $17,000 daily volume is rather appealing compared to the numbers seen on the base and polygons. The $17,000 volume is more similar to the transaction size of a whale than the daily total of an active blockchain.
For context, many whales have spent millions of dollars in a single transaction to acquire Shiv, the native token of Sibainu. Recently unknown waves shiba inu whale I retreated It's about 220 billion shibe, worth about $4.63 million from Binance.
The limited volume of Shibarium trades raises concerns about its ability to compete with established blockchains. This low volume suggests a decline in debt activity or lack of interest from the platform developers.
Overall, shivalium appears to be struggling to attract liquidity compared to the most established blockchains.
