Tue, July 23

Shiba Inu is Ranked as Second Most Safest Crypto Project

Altcoin News
  • Shiba Inu ($SHIB) is the second-most secure cryptocurrency project by CertiK.
  • $SHIB social activity has grown in front of the Shibarium Layer-2 blockchain launch.

Prominent dog-themed cryptocurrency project Shiba Inu ($SHIB) ranked as the “second most safe crypto project” in the blockchain arena with a Skynet Trust Score of 95. According to the CertiK Web3 Security Leaderboard report, $SHIB is just behind Polygon ($MATIC), which is in first place with the same score as Shiba Inu. 

Skynet Trust Score of Shiba Inu ($SHIB) (Source: CertiK)

CertiK is the leading security-focused ranking platform that analyzes and monitors blockchain protocols. The Skynet Trust Score is a new scoring mechanism. That designed to simplify the concept of crypto project risk, increase transparency and helps to demonstrate market health.

CertiK evaluated Shiba Inu’s relative security based on the market condition and social sentiment. However, $SHIB’s success was accelerated by some main factors, decentralization, large market cap, stability, high social following, and accessibility of bug bounties, as per the ranking platform. Also, the ‘Doge killer’ obtained 1st rank among the top 10 watchlisted DEX projects on CertiK. 

Shiba Inu Moves to Improve $SHIB Value

Shiba Inu the second-largest meme cryptocurrency in the world has been in the spotlight due to its recent whale activities. Along with the current attention on the Layer-2 blockchain “Shibarium” launch. Also, the Shiba community hinted the launch will take place in the earlier of 2023.  

Further, the memecoin ecosystem added a burning mechanism last year, which is used to boost the token value. Shiba Inu burn tracker Shibburn reports that 83 billion SHIB have been burned in just 2022.

Shiba Inu formed some significant partnerships with luxury car manufacturer ‘Bugatti’ to offer NFTs on January 11, 2023.  However, Shiba Inu ($SHIB) has gained more than 5% in the last 24 hours and 14% in just 7 days, as per CoinGecko. At the time of writing, $SHIB traded at $0.00000925 with a market cap of $5 billion.

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A journalism graduate who is passionate about writing loves to dance and travel currently starts exploring blockchain technology.