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Dr. Christopher Johnson (a.k.a Mr. Lightspeed), the President of Lightspeed Crypto Services and an advisor of Bad Idea AI, expresses frustration over Etherscan’s continuous display of inaccurate Shiba Inu (SHIB) data.
In an X post yesterday, Mr. Lightspeed said Etherscan’s reported total supply for Shiba Inu is “100% wrong.”
He noted that Etherscan’s data still displays Shiba Inu’s total supply as 999,982,346,380,367 (999.98 trillion) SHIB. The Bad Idea AI advisor asserted that this information is completely inaccurate. According to him, Shiba Inu’s correct total supply is calculated by subtracting burned tokens from SHIB’s max supply.
“That’s the super simple version of the math,” Mr. Lightspeed remarked.
Shiba Inu Supply on Etherscan and CoinGecko
At press time, data from Etherscan shows that Shiba Inu has a max total supply of 999,982,346,341,694 (999.98 trillion) SHIB. The blockchain analytics platform did not indicate Shiba Inu’s total and circulating supply.
In addition to Etherscan, CoinGecko claims that Shiba Inu boasts a total supply of 999.98 trillion tokens. However, CoinGecko data displayed Shiba Inu’s circulating supply, which currently stands at 589.27 trillion.
The inaccurate display of Shiba Inu’s total supply on Etherscan and CoinGecko suggests that both analytic platforms have yet to subtract the number of SHIB burned since the token’s inception.
Total Supply Drops to 589.27 Trillion After Hefty Burns
For context, Shiba Inu launched in August 2020 with a total supply of 1 quadrillion SHIB tokens. Interestingly, Shiba Inu’s total supply has decreased significantly due to the huge amounts of tokens burned so far.
At press time, 410,727,951,111,035 (410.72 trillion) SHIB have been incinerated, leaving Shiba Inu with a total supply of 589,272,048,888,964 (589.27 trillion).
While analytics platforms like CoinMarketCap have updated Shiba Inu’s total supply with accurate information, others like Etherscan and CoinGecko have yet to provide the necessary update.
The need for blockchain analytics platforms to provide accurate information for assets like Shiba Inu cannot be overemphasized. It is common knowledge that new investors are always advised to conduct due diligence before investing in digital assets. Consequently, inaccurate data, like those displayed for SHIB on Etherscan and CoinGecko, could discourage newcomers from investing in Shiba Inu.