CertiK Project Scoop: Shiba Inu Evolution From MEME to a Decentralized Ecosystem

According to Certik, Shiba Inu boasts an excellent security score of over 94.

Certik, a leading blockchain security company, highlighted Shiba Inu on this week’s Project Scoop. The report showcased Shiba Inu’s remarkable transformation from a meme token to a decentralized ecosystem with a highly engaged community and an excellent security rating.

Time for another CertiK Project Scoop! ?

This week we’re featuring @Shibtoken, a meme token that transformed into a decentralized ecosystem. Are you part of their #SHIBARMY?

Get the scoop on the new #Skynet for Community ⤵️https://t.co/jqk36kB3ur#SHIB $SHIB #CertiK pic.twitter.com/L7er9HVnSY

— CertiK (@CertiK) April 20, 2023

Shiba Inu stands out among projects assessed by Certik for its impressive security score of 94.30, which places it in the top 5% of thousands of projects evaluated by the security firm. Additionally, SHIB is one of the top 10% projects favorited and watchlisted by investors on Certik.

According to Certik’s security score, Shiba Inu excels in several parameters, including governance strength, community trust, and market stability. The project has obtained impressive scores above 90 for all these parameters: 97.05 for governance strength, 94.54 for community trust, 96.78 for market stability, 92.37 for operational resilience, and 91.49 for code security.

A Certik audit indicates that a project has undergone a rigorous security review, and its underlying protocol has been thoroughly evaluated for potential vulnerabilities. A high Certik security score can greatly enhance investor confidence by providing assurance that the project is less susceptible to hacks, exploits, or other security breaches.

Moreover, an assessment of Shiba Inu’s socials also reveal some impressive metrics. While market sentiment is currently neutral, with a score of 55 out of 100, SHIB’s social sentiment index is noticeably on the upside, with a remarkable 79 score out of 100. According to Certik, this indicates that social sentiment is “mostly positive.” Note that this assessment was carried out in 2021.

Shiba Inu Sees an Increase in Investors’ Interest

Shiba Inu’s exceptional security score makes it one of the most secure projects in the crypto market. This is expected to compound investors’ interest in the asset, which has seen a significant upward trend in recent times.

Data suggests that Shiba Inu trade volume on Binance has consistently stayed above the 3 trillion SHIB mark for seven consecutive days, with a particular surge to 5.1 trillion SHIB on April 17. This suggests a renewal of investors’ interest. The asset also came top on the list of most watchlisted tokens on Certik last month.