@Shibtoken secures its position as the #3 meme project , and #62 among all cryptocurrencies on Skynet!

With almost 1.5 million token holders, it's easy to see why people love $SHIB!

Dive into their Skynet profile for an in-depth token analysis https://t.co/b9aHFmLyR3

— CertiK Skynet Rating (@CertiKCommunity) March 11, 2024

Read Also: SHIB to $0.0001? Shiba Inu Bullish Metrics Spark Optimism For Price Bull Run

Shiba Inu’s Commitment to Security

CertiK employs a comprehensive rating system for cryptocurrencies, spanning a 0 to 100 scale. Projects are then categorized from AAA (highest security) to C (lowest). Shiba Inu’s impressive score of 90.72 places it firmly in the AA category, indicating strong security while leaving room for improvement to reach the coveted AAA tier.

The Shiba Inu team’s dedication to security is well-documented, as we earlier reported their previous rapid upgrade from AA to AAA. This swift reaction to address security challenges demonstrates their potential to achieve the top rating again, by addressing any remaining vulnerabilities.

Understanding Shiba Inu’s Security Metrics

CertiK’s comprehensive audit delves into several aspects of Shiba Inu’s security. The project currently exhibits exceptional operational resilience (92.88%) and market stability (96.31%). Furthermore, Shiba Inu enjoys strong community trust (95.71%) and code security (92.66%). These metrics underscore the dedication to minimizing vulnerabilities within the Shiba Inu ecosystem.

Read Also: These Metrics Show Shiba Inu (SHIB) Is Not Done With Current Bullish Run

Collaboration with CertiK

CertiK’s reputation within the industry is well-established, having audited thousands of blockchain projects. In addition to their 2021 audit of Shiba Inu, the firm recently assessed Shiba Inu’s partner project, Bad Idea AI (BAD).

Bad Idea AI (BAD) scored 78.91, placing it in the BBB category and further positioning it in the 779 spot across all crypto assets. This highlights Shiba Inu’s commitment to due diligence and secure collaborations.

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Ongoing Improvement

Furthermore, Data from CertiK’s website reveals that the Shiba Inu team actively addresses issues raised, having resolved 11 minor, 1 medium, 8 major, and 10 informational findings. This continuous improvement approach contributes to the growing confidence placed in the project by its expansive community of nearly 1.5 million token holders, as noted by CertiK.

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Certik is one of the top security companies in the industry. They perform security audits on blockchains, classify vulnerabilities, and provide solutions. A high-security score is a stamp of approval in the crypto world.

Lucie gave a shout-out to the teams at CertiK and the Shibarium Discord. She commended them for actively addressing issues on the CertiK website and squashing bugs.

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

She attached a screenshot showing that Shibaswap had a 90.05% trust level. At the time of writing, the score had gone up to 90.17. This real-time security score is calculated based on a combination of on-chain and off-chain data.

Exciting News! The ShibaSwap CertiK audit page has been relocated to a new URL. Big shoutout to the diligent teams at CertiK and Shibarium Discord who are actively addressing and squashing bugs on the @Certik website.

Specially some links were very wrong…

Keep up the… pic.twitter.com/ZAGGbjuyox

— 𝐋𝐔𝐂𝐈𝐄 | Shibarium (@LucieSHIB) September 15, 2023

The Shibaswap Audit

Shibaswap is ranked #79 based on its security level and is in the top 10% of the crypto industry. The breakdown of Shibaswap’s security score is:

• Fundamental Health: 73.75
• Operational Resilience: 92.94
• Governance Strength: 93.91
• Market Stability: 95.72
• Community Trust: 92.90
• Code Security: 93.04

The audit also found 34 issues. The team has resolved 33 of these and partially resolved the final one.

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Read Also: Top Shiba Inu Proponent Emphasizes the Need For Decentralized Distribution of SHIB, BONE, and LEASH

The Fundamental Health category is the lowest score on the list but still well above average. All other scores are ranked as excellent. The Code Security score is an impressive one. CertiK found only 8 major bugs and 1 minor bug in the code and resolved them quickly. All other bugs were minor and informational, and there were no critical bugs in Shibaswap’s code.

This update isn’t just about safety, it’s also about trust. CertiK has the trust of the entire crypto industry, and they have given Shibaswap a glowing review. The review translates directly to trust from crypto users. It also shows the team’s commitment to fixing problems and keeping their users safe.

As the popularity of Shiba Inu grows, users need to have faith in Shibaswap and all the services it offers. The CertiK audit has shown that it is safe and trustworthy.

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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. 

$Shib is a AAA ! For more details https://t.co/PvJvKn0fvu pic.twitter.com/TYpI81XZWH

— Ralph Le Sueur (@RalphLesueur) May 30, 2023

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.

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