As Shibarium, the Layer-2 blockchain linked to Shiba Inu, turns two years old, data from DeFiLlama and ShibariumScan show the state of its DeFi projects and overall usage since launch.
The network has seen growth in decentralized applications, steady transactions, and an active community.
DeFi Projects Lead Activity on Shibarium
Over two years since its launch, Shibarium has built an ecosystem of decentralized applications that continue to drive activity on the network.
Figures from DeFiLlama showed that ShibaSwap remained the largest project on Shibarium with about $1.12 million in total value locked (TVL).
WoofSwap followed with $354,623, while ChewySwap came third with $191,539.
DogSwap, Marswap, Shibex, and PunkSwap also featured among the top applications, although with smaller amounts in locked value.
The data revealed that while several projects recorded weekly and monthly declines in TVL, they still formed the core of Shibarium’s DeFi landscape.
For many, this reflected ongoing participation from developers and users despite changing market conditions.
The second anniversary also drew attention from the community.
Lucie, a known voice in the Shibarium network, noted on social media that some projects had played an important role in keeping the chain active.
She mentioned WoofSwap for its constructive feedback, LetsHypeIt for community engagement.
Lucie also mentioned ShibaGeishas for presence and support, and UnificationUND for offering help during difficult times.
Other names such as RoaringKitty_22 and Oscar Shibainu were also recognized for their contributions.
Together, these projects showed that Shibarium’s ecosystem was still supported by active participants who continued to build, trade, and engage within the network.
Shibarium in Numbers
Figures from ShibariumScan highlighted the scale of activity that the network had recorded in its first two years.
At the time of reporting, more than 1.53 billion transactions had been processed on the chain.
Notably, over 12.5 million blocks had been produced, with an average block time of 5 seconds.
Daily transactions stood at around 4.75 million, while network utilization was measured at 50.50%.
The chain had also reached more than 267 million wallet addresses, suggesting broad use and distribution.
Another important marker was gas fees, which stood at just 0.6 Gwei.
This low cost has been one of the key features of Shibarium since launch, making the network a cheaper alternative compared to many other chains.
Taken together, these numbers showed that Shibarium had managed to maintain steady throughput, high transaction levels, and broad adoption over two years.
For a Layer-2 solution linked to a memecoin project, such figures underlined its role as more than just an experimental chain.
DeFi Outlook for Shibarium
The anniversary also coincided with fresh analysis of Shiba Inu’s price action, which is closely connected to the chain.
Chart patterns showed the formation of an inverse head and shoulders, often seen as a reversal signal.
A breakout at around $0.00001306 could push SHIB prices higher, with some suggesting targets near $0.00002600.
Resistance was identified at $0.00001397 and $0.00001600, while support remained at $0.00001252.
The Relative Strength Index was pegged at 48, which is neutral but has space for upward movement.
If prices crossed above $0.00001724, the pace of gains could increase further.
What this meant for Shibarium was that its DeFi outlook would likely remain tied to market performance and investor interest in Shiba Inu.
While total value locked had fallen from earlier highs, the presence of several active applications, combined with the network’s high usage levels, suggested a foundation for possible recovery.
Notably as the chain entered its third year, Shibarium stood as a growing Layer-2 protocol with real usage, active projects, and a community that continued to support it.
