Ethereum

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Shiba Inu

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 </figure>ShibaSwap, a prominent decentralized platform and vital part of the Shiba Inu ecosystem, has witnessed a significant decline in liquidity, reaching an all-time low. Recent data from <a href="https://app.intotheblock.com/insights/defi/protocols/shibaswap">IntoTheBlock</a> reveals that liquidity on ShibaSwap has plummeted to $21.78 million, painting a worrisome picture for investors.<img alt="" data-entity-type="file" data-entity-uuid="d7dc6ab6-fe7d-425e-8aa9-f9907256fd67" src="https://u.today/sites/default/files/inline-images/ITB_liquidity_provided_undefined_2023-06-12T12_59_23.849Z.png" />Liquidity Provided to ShibaSwap by <a href="https://app.intotheblock.com/insights/defi/protocols/shibaswap">IntoTheBlock</a>Over the past few days, the downward trend in liquidity has accelerated noticeably. This decline aligns with a corresponding 16% drop in the price of the SHIB token, which even reached a staggering 31% decline at its peak. In tandem with the token's depreciation, liquidity on ShibaSwap has experienced a 9% decrease.The decline in liquidity can be attributed not only to the falling prices of the <a href="https://u.today/shiba-inu-shib-whale-activity-makes-dramatic-pivot-after-what-happened-on-weekend">Shiba Inu token</a> and its associate, <a href="https://u.today/shiba-inu-shibarium-token-bone-secures-new-exchange-listing">BONE</a>, but also to the withdrawal of funds from the platform. However, the primary factor responsible for this liquidity crisis seems to be the collapse in token prices.<img alt="" data-entity-type="file" data-entity-uuid="72d69ca2-16c0-451e-9d82-5cfab8ff1ab4" src="https://u.today/sites/default/files/inline-images/SHIB_7D_graph_coinmarketcap%20%282%29_0.jpeg" />SHIB and BONE to USD by <a href="https://coinmarketcap.com/currencies/shiba-inu/">CoinMarketCap</a>Particularly noteworthy is the fact that the largest liquidity pool on ShibaSwap remains the BONE pool, which is paired with Ethereum (ETH) and boasts a liquidity value of $5.69 million. <a href="https://u.today/trillions-of-shiba-inu-shib-dumped-by-whales-in-epic-48-hours-but-heres-buyer">SHIB</a> follows closely in second place, also paired with ETH, with a combined liquidity of $4.98 million.<a href="https://u.today/shiba-inu-shib-whale-activity-makes-dramatic-pivot-after-what-happened-on-weekend">card</a>In addition to the liquidity slump, ShibaSwap has experienced a sharp surge in trading volumes on its decentralized exchange. On Saturday, June 10, the trading volume soared to $5.96 million, marking the highest figure since early May. This surge in activity has led to ShibaSwap collecting $17,870 in commissions within a 24-hour period.

Shiba Inu's Major Exchange Plunges to Absolute Lows Amid SHIB Price Crash

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Shiba Inu&#039;s Major Exchange Plunges to Absolute Lows Amid SHIB Price Crash