The trading protocol developed by Shiba Inu (SHIB) saw a tremendous inflow of capital, but safety concerns raised red flags. ShibaSwap is an Ethereum (ETH)-based ERC-20 token regarded as "the Dogecoin killer." Shibaswap presently has $1.44 billion in total liquidity, which is substantially closer to Sushiswap's (SUSHI) total liquidity of $2.73 billion. The platform was developed by a former Blockstream co-founder who previously worked on Bitcoin.