The price of Shiba Inu (SHIB) has dropped by over 50% from its November peak, entering a deep bear market. The decline may continue as SHIB formed a death cross pattern. The total value locked (TVL) in the Shibarium ecosystem has also decreased significantly, falling to $2.3 million from its all-time high of $6.27 million. This makes Shibarium a smaller player in the DeFi industry compared to other blockchains. All dApps in Shibarium's ecosystem have lost assets, including ShibaSwap, WoofSwap, ChewySwap, and DogSwap. The number of active accounts in Shibarium has dropped, and transaction fees are at their lowest level in weeks. The decline in SHIB's price and the poor performance of Shibarium are seen as bearish signs, with the token expected to continue falling. Shiba Inu gained popularity as a "Dogecoin killer" and attracted a strong following, but its recent decline has raised concerns.



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