Shiba Inu's native Decentralized Exchange (DEX), ShibaSwap, has experienced a significant decrease in its Total Value Locked (TVL) from $1.75 billion to $25.16 million, indicating a lack of interest from investors. This has led to a decrease in revenue and fees generated, as well as speculation about a liquidity squeeze. On-chain data shows that while retail investors are increasing their SHIB token holdings, larger holders are cutting their balances, possibly due to profit-taking and a lack of confidence in SHIB's future performance. Additionally, SHIB's trading volume has been consistently low, and there has been frequent movement of long-term held tokens, possibly indicating a shift in investor sentiment.