Shiba Inu (SHIB) Regains AAA Security Rating On CertiK. Here’s the Significance

The security level of the second-largest decentralized meme token project has improved significantly according to the latest rating by CertiK, a pioneer in blockchain security which utilizes best-in-class formal verification and AI technology to secure and monitor blockchain projects and decentralized applications.

Shiba Inu has regained the AAA security rating on the leading security-focused ranking platform CertiK, boosting investor confidence in the SHIB token. This development comes after Shiba Inu’s security score dropped in the past week, causing a big concern for the project which adversely affected the price of SHIB. 

As of May 31, 2023, CertiK’s security score for the Shiba Inu project stands at 94.03 at the time of writing. Notably, the leading auditing platform integrates over 15 signals to measure the security performance of a blockchain project across six security categories, including code security, Fundamental Health, operational resilience, community trust, market stability, and governance strength. 

A further analysis of CertiK’s security score which evaluates a project’s real-time security posture using on-chain and off-chain data showed that Shiba Inu’s Code Security score is 91.02 on a scale of 100. Per the data extracted from CertiK, the fundamental health of project Shiba Inu is 92.32 while its operational resilience score stands at 92.53 at the time of writing. 

This implies that the Shiba Inu network is reliable for transactions and resistant to security breaches. The development coupled with the upcoming Shibarium layer-2 has triggered massive bullish sentiments on SHIB with many evaluating the possibility of the token hitting $1. 

Recall that a prominent member of the Shiba Inu marketing team Lucie shared an update regarding the mainnet launch of Shibarium. According to another update, the mainnet launch of the Shiba Inu layer-2 scaling solution is sooner than expected. While these positive developments are yet to largely impact SHIB’s price, a machine learning algorithm predicted the price of the asset for the 1st of June 2023.

Follow us on Twitter, Facebook, Telegram, and Google News