Recent data on the burning of Shiba Inu tokens has raised confusion among users, as the reported burn rate remained at 0% despite a significant number of tokens being destroyed.
SHIB Token Burn Data
On July 1, 2023, the Shibburn platform confirmed the burn of 23,767,887 SHIB tokens through seven separate transactions. However, the recorded burn rate remained at 0%. In this context, a 3.56% drop in SHIB's price only added to investors' concerns.
User Discontent and Possible Errors
Some users in the SHIB community have expressed doubts about whether the platform experienced a temporary data glitch. Shibburn has reported flat burn rates even when token movements suggested otherwise. These inconsistencies have sometimes been linked to backend delays or system bugs.
Impact on Burn Rate and Token Price
Despite successful transactions aimed at destroying tokens, the burn rate recorded by the platform leaves investors puzzled. As the burn address received nearly 24 million tokens in a single day, and the Shibburn platform continues to show a 0% reading, it raises new questions about the transparency and tracking system behind Shiba Inu's deflationary approach.
Issues with burn data are causing mixed reactions among investors, who, in search of greater transparency, remain concerned about the stability and effectiveness of the system.
