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Shiba Inu (SHIB) Rises in Popularity with Solid Security and Community Support

Discover how Shiba Inu (SHIB) is gaining traction in the crypto world, with increasing security ratings and strong community backing.
Published on 2023-01-10

Shiba Inu's Recent Performance

Shiba Inu (SHIB) has witnessed a resurgence in popularity, with its price climbing by 3.9% in the last 24 hours and achieving a robust 13% increase over the past week. Priced at $0.00000927, the memecoin has captured attention on social platforms, notably trending on Twitter.

Security and Trust Rankings

According to the latest technical report by the on-chain data analytics tool CertiK, Shiba Inu ranks second on the Security Leaderboard, boasting an impressive Skynet Trust Score of 93/100. This score reflects the memecoin's decentralized nature, substantial market capitalization, and the implementation of bug bounties for developers. Despite identifying 34 bugs during the ShibaSwap audit, CertiK confirmed that none were critical, with 33 resolved and one partially fixed.

Community and Social Sentiment

The SHIB community, known as the SHIB Army, plays a vital role in promoting positive social sentiment. Shiba Inu scores highly in the Market and Community Index, earning 95/100. The word "Community" is frequently associated with SHIB on social media, alongside other popular terms like "Woof," "Shibarium," "NFT," and "Metaverse." Discussions often extend to competing memecoins such as Dogecoin (DOGE) and BabyDoge.

Challenges and Future Prospects

Despite its success, Shiba Inu faces challenges, scoring neutrally on the Price Sentiment Index with a score of 59. However, its transition from an ERC-20 token on Ethereum's blockchain to an independent ecosystem highlights its potential for growth. The memecoin continues to make strategic moves, such as entering merch deals and expanding its Shibarium news section, indicating promising prospects for the future.

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