Happy shiba inu dog on yellow. Red-haired Japanese dog smile portrait
- According to a recent analysis conducted by a leading blockchain security firm, Shiba Inu has transformed into its own decentralized ecosystem.
- Despite recent pushback from the bears, social sentiments and overall market sentiments for Shiba Inu are largely decent.
As Shiba Inu’s adoption soars, the memecoin and the entire Shiba Inu ecosystem is being recognized for its development over the years. According to a recent insight shared by a key player in the Industry, Shiba Inu has evolved significantly over the years.
As highlighted by Certik, a top blockchain security firm, Shiba Inu is not just a memecoin. The blockchain firm stated that Shiba Inu has succeeded in transforming into a decentralized ecosystem. Certik wrote in its most recent project scoop.
Shiba Inu is a memecoin that has transformed into its own decentralized ecosystem. ShibaSwap is a DEX for Shiba Inu, designed as a one-size-fits-all swap/platform for the Shiba Inu community.
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
Notably, Shiba Inu has been recognized for its remarkable security ranking. Per Certik’s security audit, Shiba Inu’s security score sits at 94.31 at this time. This places it above a significant number of projects, and puts it within the top 5%, out of a handful of projects previously evaluated by the blockchain security firm.
Details from the security score further revealed that governance strength, market stability, community trust, fundamental health, code security, and operational resilience have all been above 90% within the last 7-days.
Overall market and social sentiments are decent for Shiba Inu, despite the ongoing bloodbath
It is also worth noting that the sentiments among the market, and across different social media platforms are largely decent for memecoin. This is particularly commendable, considering the recent slump in the prices of cryptocurrencies in the market.
From Certik’s price analysis, dating back to March, Shiba Inu has recorded a significant level of pushback from the bears, as selling pressure increased over the past months. According to our data, over the last 7-days, Shiba Inu has declined by nearly 10% in value.
As reflected in the current market prices, the memecoin went from trading at $0.00001158 on the 15th of April, and $0.00001067 on the 21st of April, at the end of the week.
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Despite the underwhelming price performance, data from the blockchain security firm shows that sentiments are still positive for memecoin. Certik’s social analysis presented a social sentiment index score of 84/100, which is considered very positive. On the other hand, market sentiments have been neutral over the last 7-days, with a score of 57/100.
Sentiments might improve in the near term as Shiba Inu, along with other altcoins, attempt to make a recovery. At the time of this report, Shiba Inu has recorded a mild upward reversal, with a press time price of $0.00001049, following an upsurge in 24-hour gains.
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