Shiba Inu Makes It To Certik’s Weekly Project Spotlight

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SHIB Sees Positive Sentiments and Surge in Token Holders Despite Market Uncertainties.

Shiba Inu is witnessing generally positive sentiments and an increase in token holders despite the market chaos triggered by the FTX saga, Certik highlights.

Time for another Weekly Project Spotlight!

With the crypto markets in chaos, have you been curious how meme coins have been faring?

Let’s check out $SHIB / @Shibtoken on CertiK’s Security Leaderboard! https://t.co/OD3kxuVEj9

— CertiK (@CertiK) November 17, 2022

Amid the panic and FUD dumped into the space by the FTX implosion, Shiba Inu (SHIB) appears to be showing more resilience against the bears than the majority of assets in terms of on-chain metrics and social outlook as token holders surge, with an uptick in social sentiments.

Blockchain security and analytics platform CertiK released its Weekly Project Spotlight episode Thursday, focusing on SHIB to bring the community up to speed with the latest on-chain metrics and social outlook regarding the meme coin.

According to CertiK, its Skynet Social Analysis module revealed some promising details on the Social Sentiment Index of SHIB. Shiba Inu’s Social Sentiment Index has an encouraging score of 79%, indicating a mostly positive outlook on the asset. Considering the prevailing crypto space issues, this score remains one of the best.

$SHIB ’s Social Sentiment Index, per the Skynet Social Analysis module, is a crucial and efficient tool in ascertaining how online communities feel about particular projects. With majority sentiment positive, we so far see good signs ahead! pic.twitter.com/coi02AVNPA

— CertiK (@CertiK) November 17, 2022

Additionally, CertiK disclosed that the number of SHIB token holders had increased in the past 24 hours despite the asset’s 24-hour decline along with the rest of the market. Token holders have increased by 0.25% in the past day, sitting at 1.27M, according to CertiK’s Token On-Chain Monitoring and Intelligence Module.

A close view of the growth of SHIB token holders reveals a gradual increase in the past few days, suggesting a readiness on the part of investors to procure SHIB despite market uncertainties. The value of 1.27M is one of the highest in the last two months.

Have holders been stalling or steadily increasing? Also available in Skynet Token On-Chain Monitoring & Intelligence module is an On-Chain Analytics section detailing token holder growth

Looks like SHIB has been gaining momentum as a safe haven, particularly in the last few days pic.twitter.com/le8soA8ibD

— CertiK (@CertiK) November 17, 2022

Furthermore, per data from CertiK’s overview of SHIB, the asset currently has an excellent Skynet Trust Score of 93%, with a Security Score of 92%. Also, Price Sentiment is neutral, with an average score of 53% in the past seven days. Additionally, with a daily volume of $1.5M on DEX, SHIB DEX volume has increased by 429% in the past 24 hours.

Possible Reasons Behind SHIB’s Promising Metrics

Several developments surrounding the Shiba Inu project of late have possibly contributed to the asset’s promising metrics, including the uptick in social sentiments. The team behind the Shiba Inu Metaverse project recently revealed a second concept art for the Tech Trench hub. This suggests that the project is progressing quite well.

Additionally, Lithuania-based crypto payments processor CoinGate recently disclosed that SHIB has secured the 12th position on CoinGate’s most popular payment methods list a year after the platform integrated the meme coin, indicating a growing adoption rate for the asset on CoinGate.

Notably, Crypto.com’s balance sheets were recently disclosed by the exchange, with a revelation that has been received well by the SHIB community. The Singapore-based exchange holds over 20% of its $2.4B net worth in SHIB, making the meme coin the second largest asset on its reserves, only behind bitcoin (BTC).

Meanwhile, amidst these promising developments, SHIB appears to be cooking up some comeback against the bears, scooping in a 0.60% gain in the past 24 hours to trade at $0.00000196 as of press time. 

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