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Can Shiba Inu [SHIB] keep calm despite declining DeFi, NFT volume

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Shiba Inu has once again topped the list of whale’s interest. This interest may have been prompted by Shiba Inu’s efforts to build on the metaverse.

However, Shiba Inu hasn’t been able to perform well in the NFT and DeFi market. In a recent tweet, WhaleStats stated that the top 100 ETH whales are holding $129 million dollars worth of SHIB.

One of the reasons for their interests could be the SHIB team’s increasing efforts to build an ecosystem of DeFi, NFTs, and a metaverse around their token.SHIBASWAP, Shiba Inu’s DeFi protocol, has seen a massive decline in its growth, and its total value locked (TVL) has gone down significantly since May.

The count has gone from 121.74 million all the way to $27.9 million in the past four months. Even though there was a slight uptick observed in the month of September, the TVL has continued on its downward trajectory.

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