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CertiK Ranks Shiba Inu (SHIB) As the Second Most Secure Crypto Project

Author: Elena R

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Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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The Shiba Inu (SHIB) token, the second biggest meme token in the world, has been doing quite well as of late. The token’s price is now $0.000008891, up nearly 3% percent in the last twenty-four hours and 8.77 percent in the last seven days.

The so-called “whale effect” may be credited for helping to drive up the price of Shiba Inu. As reported by CoinPedia yesterday, whales have amassed a staggering number of SHIB tokens over the previous several days.

SHIB is the Second Most Secure Crypto Project

The good news keeps coming: blockchain security company CertiK has classified SHIB as the second most secure cryptocurrency project out there. CertiK believes that the most notable aspects of the Shiba Inu project are that it is decentralized, has a significant market cap, has been operating for a long time, provides bug bounties, and has a large social following.

As can be seen in the tweet sent by CertiK below, the meme token achieved a Skynet Trust Score of 93 in CertiK’s Web3 Security Leaderboard report, which allowed it to secure the second spot on the leaderboard, after only Polygon.

This is an average of score of 92 for the Security category and a score of 95 for the Market & Community category. These scores are determined by analyzing the relative security, market performance, and social sentiment of a cryptocurrency project.

In addition to this, Shiba Inu has achieved the position of first place in the list of the Top 10 Watchlisted DEX Projects on CertiK, the report shows. Shibarium’s long-awaited debut as a Layer-2 scaling platform is another factor that may have contributed to the recent increase in the price of SHIB.

SHIB Price

Shiba Inu after rebounding back within the descending triangle is striving to sustain the rising momentum of the token.

Despite this uptrend, SHIB cryptocurrency still has to contend with the possibility of a drop if bears decide to stop the positive trend. Meanwhile, sellers are continually attempting to pull back during intraday trade, although volume movement is still weak. It is still highly likely that the meme coin will keep up its bullish movement, which is exactly what all of us are hoping would happen.

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Elena R

Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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