As a seasoned crypto investor with a knack for identifying promising projects, I find myself intrigued by Shiba Inu’s recent developments, particularly the introduction of the “Security Score” feature on their Layer 2 blockchain, Shibarium. Having witnessed the tumultuous journey of numerous altcoins, I can appreciate the importance of transparency and security in building trust within a community.
The well-known competitor of Dogecoin, Shiba Inu, has just made a significant improvement on its Layer 2 blockchain, Shibarium. Today, Lucie, the marketing head of SHIB, shared on X that there’s an update for the L2 designed to increase transparency throughout the network. As optimism grows, the price of SHIB coins is currently trending upward.
Shiba Inu Coin’s L2 Adds “Security Score” On Network
Based on Lucie’s X post from August 17th, Shibarium L2 introduced an essential component today called “Security Score.” This tool specifically focuses on contracts developed within the Shibarium network.
According to Lucie’s statement, this innovation is particularly beneficial for individuals navigating the ecosystem, as it provides an additional level of clarity and reassurance. Upon examining the screenshot provided by the SHIB marketing executive, it appears that contracts within the network undergo a security check after the update has been implemented.
Significantly, we carry out the security assessment using SolidityScan, a tool that scans smart contracts in the cloud for potential vulnerabilities. Additionally, this scan provides a score ranging from 1 to 100, offering a clear indication of whether the contracts are secure or at risk.
1) The news quickly spread like wildfire throughout the cryptocurrency sector, reflecting high hopes for the meme token’s adventure in the crypto and Web3 world. Moreover, it’s noteworthy that the L2 platform recently introduced an auto-burning feature called ShibTorch, which has added to market enthusiasm.
Today, the trading of Shiba Inu coin largely occurred within the positive sector, reflecting investors’ excitement coinciding with the recent advancements announced.
SHIB Price Pumps 2%
Currently, the Shiba Inu coin price stands at approximately 0.00001337 USD, marking a 2% increase today. The lowest it went during the past 24 hours was 0.00001295 USD, while its highest point reached 0.00001341 USD.
As an analyst, I’ve observed a significant increase of 4.17% in the coin’s futures Open Interest (OI), which currently stands at $25.39 million. This surge echoes growing optimism within the market. On the other hand, it’s worth noting that today’s derivatives volume has seen a decrease of 42.29%, settling at $31.35 million.
14-day Relative Strength Index (RSI) of Shiba Inu Coin is trending around 37, indicating a slight buildup of selling pressure on this asset. Yet, if the downward trend continues, it could push the coin towards oversold conditions, potentially setting up for a price increase.
Investors in the cryptocurrency world are keeping a close watch on the dog-themed meme coin, hoping for more changes in its price movement. The current market conditions are unpredictable, but recent updates offer a glimmer of hope.
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2024-08-17 18:36