Shiba Inu Burn Rate Glitch Raises Transparency Concerns

Shiba Inu’s community raised fresh concerns on July 1 after the Shibburn tracking platform reported a 0% burn rate, even though users destroyed over 23 million SHIB tokens. On-chain data confirmed that users sent 23,767,887 SHIB to burn addresses through seven separate transactions. However, the system’s dashboard showed no increase in the burn rate, leaving many holders puzzled.

The most notable of the seven transactions included one for 5,654,684 SHIB and another for 100,000 SHIB. The remaining transfers consisted of smaller amounts, including two symbolic burns of 5 SHIB each. Although these transactions were successful and directed to dead wallets, the system failed to reflect their impact on the burn rate.

_{Source: Shibburn}

Technical Glitch Suspected by Users

The SHIB community quickly pointed to a possible data glitch or backend delay. Shibburn has previously experienced issues where the displayed burn rate did not match real-time token destruction. In this instance, the system even marked the 0% burn rate in green, suggesting a neutral reading rather than a warning sign. Despite similar past occurrences, no official explanation has been provided.

This burn-rate discrepancy surfaced on the same day SHIB’s price dropped 3.56%, adding to investor anxiety. Many Shiba Inu supporters believe consistent, transparent burns are vital to its deflationary model, which reduces supply and may boost value. However, when visible metrics fail to reflect actual token burns, confidence in the burn tracking process weakens.

Burns Verified, But Transparency Questioned

Despite the flat reading, blockchain data confirmed all seven burn transactions were successful and sent to unspendable addresses. Yet, without accurate reflection in Shibburn’s metrics, users remain uncertain about how well the burn tracker captures real activity.

While nearly 24 million SHIB tokens were permanently removed from circulation in just one day, Shibburn’s 0% reading has once again cast doubt on its reliability. Until the platform resolves these tracking inconsistencies, questions around transparency and system accuracy are likely to persist.

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