Shiba Inu’s Burn Tracker Shows 0% Rate Despite 23.7 Million Tokens Burned

Generated by AI AgentCoin World
Wednesday, Jul 2, 2025 9:27 am ET1min read
SHIB
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Shiba Inu’s burn tracker has caused confusion after it registered a 0% burn rate despite over 23 million SHIB tokens being removed from circulation on July 1. Data from the Shibburn platform confirmed that 23,767,887 SHIB were sent to dead wallets in seven separate transactions, yet the displayed burn rate remained unchanged.

The discrepancy became apparent on late Tuesday when the price of SHIB fell by 3.56%, adding to the concerns among investors. Notably, the two largest transfers related to burns were 100,000 and 5,654,684 SHIB, while the remaining transactions were smaller, including two transfers of 5 SHIB each.

According to Shibburn, the 0% burn rate was indicated in green, suggesting a neutral or no negative trend. While such readings are not uncommon, it is unclear why large volumes of burns were not reflected in the real-time metric.

Several users in the SHIB community have raised questions about whether the platform experienced a temporary data glitch. Shibburn has a history of reporting flat burn rates even when token movements suggest otherwise. These inconsistencies have occasionally been attributed to backend delays or system bugs.

Meanwhile, the decreasing price of SHIB has sparked interest in the coin’s deflationary mechanism. The SHIB burn plan is generally seen as a way to reduce the supply in circulation and potentially increase the value. However, when the burn rate stalls despite millions of tokens being destroyed, it can adversely affect confidence in the system’s functionality.

Additional on-chain data verified that the seven burn transactions were successful and directed to unspendable wallets. However, without a corresponding change in the burn rate, investors are uncertain about the correlation between the numbers and current token activity.

While SHIB’s burn address received nearly 24 million tokens in a single day, the Shibburn platform’s 0% reading has left many puzzled. As the discrepancy continues, it raises new concerns about transparency and the tracking system behind Shiba Inu’s deflationary approach.