While the Shiba Inu community remains focused on the sharp decline in reported Shibarium transaction activity, long-term $SHIB proponent Mazrael emphasized that the network continues to reduce $SHIB’s circulating supply.

Mazrael made the disclosure over the weekend after an X user asked whether Bone ShibaSwap (BONE) remains relevant to the Shiba Inu ecosystem.

In response, Mazrael explained that BONE remains directly connected to Shiba Inu’s burn mechanism through Shibarium. As the network’s gas token, BONE is collected through transaction fees. A portion of those fees is then used to facilitate $SHIB burns through ShibTorch.

Shibarium Burns Hundreds of Millions of $SHIB

Moreover, Mazrael emphasized that Shibarium’s fee-based $SHIB-burning process remains active, even though it receives relatively little attention from the community.

According to him, the mechanism has helped burn hundreds of millions of $SHIB over the past few weeks. In his view, Shibarium continues to support $SHIB’s deflationary effort quietly in the background, even when network activity and burn-related discussions are subdued.

As he puts it, the process “doesn’t need to be noisy to still run.”

Part of Shibarium Function

Shibarium’s role in reducing $SHIB’s enormous supply was one of the major sources of excitement surrounding its launch in August 2023.

True to that design, Shibarium contributed to the burning of more than 50 billion $SHIB during its early days. Subsequently, the Shiba Inu team launched ShibTorch about a year later to automate the burning process.

The burn portal also facilitated billions of $SHIB burns following its launch. However, the community has had limited visibility into the mechanism’s ongoing activity.

Nonetheless, Mazrael’s comments suggest that the system continues to operate despite the lack of widespread attention.

Explorer Still Recovering After Indexing Issue

Meanwhile, Shibariumscan continues to index the network following a recent outage that occurred after the explorer moved behind Cloudflare, triggering a DNS change.

As a result, the explorer’s reported cumulative transaction count temporarily plunged from 1.56 billion to 475 million while Shibariumscan continued to index the blockchain.

At the latest update, indexing has reached 48%, while the displayed transaction count has recovered to 517.16 million. The network is also recording about 1,320 daily transactions.

Current Shiba Inu Burn Status

At the same time, Shiba Inu’s broader burn activity has declined significantly from its late-July peak.

Daily burns reached 1.3 billion $SHIB on July 27. In contrast, only about 4.75 million $SHIB were destroyed over the latest 24-hour period. Despite the relatively small number of tokens burned, the burn rate still increased by 2,212% over the previous day because the comparison period recorded an even lower burn figure.

Over the past seven days, 143.92 million $SHIB have been burned, while the cumulative figure stands at about 3.45 billion tokens destroyed.