Shiba Inu (SHIB) continues to pursue new growth strategies in the market, with its latest focus on strengthening its Decentralized Finance (DeFi) ecosystem. Since the launch of Shibarium last year, one of the primary expectations was its consistent growth, positioning it to compete with other layer-2 scaling solutions like Arbitrum.
While Shibarium’s momentum has been relatively slow, recent developments indicate that its DeFi ecosystem is gearing up for something significant.
Shibarium’s DeFi Sees TVL Growth
According to DeFiLlama data, Shibarium’s DeFi ecosystem currently holds a total value locked (TVL) of $4.37 million. This follows an all-time high (ATH) of $4.81 million recently reached. Although these figures might seem modest compared to larger platforms, they represent a notable improvement from the previous high of $3.9 million recorded in March.
Related article: Shiba Inu: Shibarium Sees $3.64M TVL Surge After Bonecrusher Debut
The lower TVL suggests that Shibarium’s DeFi space is primarily dominated by retail investors. The most significant decentralized application (DApp) in Shibarium is ShibaSwap, with a locked value of $2.22 million. Additionally, the newly launched K9 Finance DAO has quickly risen to second place, surpassing older protocols such as Woofswap, CherrySwap, and MARSWAP.
Signs of Shibarium’s Future Potential
The increase in Shibarium’s TVL reflects renewed confidence that this layer-2 scaling solution could become a dominant force in the DeFi sector. As the numbers continue to improve, optimism is growing around its future impact on the broader market.
SHIB Price Struggles Amid Consolidation Phase
Meanwhile, Shiba Inu’s price remains in a consolidation phase, trading within a narrow range over the past month. Despite market whale activity, SHIB’s price has retraced some gains, falling by 3.58% in the last 24 hours to $0.00001706.
Related article: Shiba Inu Sees 109% Spike in Large Transactions Despite Market Volatility
Historically, SHIB has shown resilience by bouncing back after significant declines, and many expect this trend to continue. With ongoing promises of updates from the Shiba Inu team, community members anticipate that SHIB’s utility will expand over time, potentially boosting the token’s value in the long term.
For now, efforts are focused on stabilizing the token after its recent sell-off and reviving key metrics, including the burn rate.
