The widely-followed meme cryptocurrency Shiba Inu has regained its AAA rating from leading blockchain security and auditing platform Certik, following concerns within the community about a recent drop in the coin’s rating. This occurred despite ongoing developments related to the Layer-2 blockchain Shibarium, metaverse projects, and other initiatives being worked on by the Shiba Inu team.
Thanks to an increased Skynet Security Score of 94.05, Shiba Inu now ranks 33rd on Certik Security Leaderboard, a significant improvement from its previous position of 51. Certik measures security performance across six categories, including Code Security, Fundamental Health, Operational Resilience, Community Trust, Market Stability, and Governance Strength. Shiba Inu scored over 91 ratings in all six areas, with notably high scores of 97 and 96 in Governance Strength and Market Stability, respectively.
Shiba Inu’s community members questioned the loss of its AAA rating, prompting an Ask-Me-Anything (AMA) session by Certik to clarify concerns around developments, community trust, and stability. The Shiba Inu team confirmed that Shibarium-related developments are advancing well, and the project’s mainnet will be launched soon. They also discussed the progress of ShibaSwap 2.0 and other ongoing projects.
Several factors might have led to the recent rating drop, including a possible delay in Shibarium’s launch, a decline in Shiba Inu burns, and a fall in its price. Nevertheless, the future might look brighter for Shiba Inu, with Shibarium’s official gas token, BONE, recently experiencing a 10% price jump in anticipation of Shibarium-related developments.
However, Shiba Inu’s price has dipped by 1% in the last 24 hours, currently trading at $0.0000086, and experiencing a 15% decrease this month. Despite this, the possibility of a Shiba Inu rally in the upcoming weeks is not being ruled out. Trading volumes and user sentiment might play a crucial role in determining the future price movements of this popular meme coin.
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Source: Coingape
