Shibarium Trading Volume Surges 1517% as Shiba Inu Network Sees Recovery

Shiba Inu's Shibarium network is showing signs of recovery after daily DEX trading volume surged by more than 1,500% within 24 hours. According to data from DeFiLlama, Shibarium's DEX trading volume jumped 1,517%, rising from just $17 on July 9 to $275 on July 10.

The surge is attributed to the ShibaSwap decentralized exchange, which accounted for the entire $275 in trading volume. Although the figure remains insignificant compared to rival blockchain ecosystems, it represents a notable improvement from Shibarium's recent performance.

The recovery follows an extended period of minimal trading activity on the network, with no DEX trading volume recorded from June 23 through July 9. Activity resumed at the beginning of July, but only $3 worth of trades were executed before surging to $275 the following day.