Certik’s Weekly Project Highlights Puts Shiba Inu on Spotlight

A wallet Burns 26M Shiba Inu, 31M in a Day, and 163M in a Week

Despite market uncertainty, SHIB observes positive sentiments and increases in token holders. 

Despite the market volatility brought on by the FTX fiasco, Shiba Inu is seeing generally positive feelings and a rise in token holders, Certik notes.

Shiba Inu (SHIB) appears to be more resilient against the bears than most assets in terms of on-chain metrics and social outlook as token holders spike, with an uplift in social sentiments throughout the fear and FUD injected into the sector by the FTX implosion.

Thursday saw the release of CertiK’s Weekly Project Spotlight episode, which focused on SHIB to update the community on the most recent on-chain data and social outlook for the meme coin.

The CertiK Skynet Social Analysis module allegedly uncovered some encouraging information on the SHIB’s Social Sentiment Index. 

The Social Sentiment Index for Shiba Inu has a positive score of 79%, indicating that most people have a generally favourable attitude toward the asset. 

This ranking is still among the top when considering the current problems in the crypto field.

More Details on Certik’s Overview

Additionally, CertiK stated that despite the asset’s 24-hour decrease along with the rest of the market, the number of SHIB token holders had climbed in the previous 24 hours. 

According to CertiK’s Token On-Chain Monitoring and Intelligence Module, the number of token holders climbed by 0.25% in the previous day, standing at 1.27M.

A closer look at the growth of SHIB token owners shows a steady rise over the last few days, indicating that investors were willing to buy SHIB despite market turbulence. 

One of the greatest values in the previous two months is 1.27M.

Additionally, the asset now has a fantastic Skynet Trust Score of 93% and a Security Score of 92%, according to information from CertiK’s analysis of SHIB. 

Also neutral, with a score of 53% during the previous seven days, is price sentiment. Additionally, SHIB DEX volume, which averages $1.5M per day, has jumped by 429% during the last 24 hours.

Several Developments Contributed to the SHIB’s Promising Metrics

The asset’s positive metrics may be attributed to several recent changes around the Shiba Inu initiative, including the rise in social sentiment. 

The second piece of concept art for the Tech Trench hub was just released by the Shiba Inu Metaverse project team. This may indicate that the project is moving along really well.

A year after integrating the meme coin, Lithuania-based cryptocurrency payments processor CoinGate has revealed that SHIB has climbed to the 12th spot on its list of the most popular payment methods, indicating a rising acceptance rate for the asset on CoinGate.

Notably, the exchange recently released Crypto.com’s balance sheets, which was a well-received discovery by the SHIB community. 

The Singapore-based exchange has more than 20% of its $2.4 billion net worth in SHIB, which makes the meme coin its second-largest reserve asset, only after bitcoin (BTC).

SHIB appears to be mounting a comeback against the bears in the wake of these encouraging developments; as of press time, it has gained 0.60% over the last day and is currently trading at $0.00000196.

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