CircleCI Badge not displaying on private repository

I can’t seem to make CircleCI Status badge display on my private GitHub repository.
Here’s how I constructed the string in README.md:

[![Build Status](https://circleci.com/gh/<my-private-network>/<my-private-project>.svg?style=svg&circle_token=<my-api-token>)](<link-to-circleci-pipeline>)

I’ve also made sure to create API token labeled as ‘Status’.

camo.githubusercontent returns 404 and I’m unable to display it properly in my readme. Am I missing something, or is this bug report indeed?

:wave: If you go to the raw link https://circleci.com/gh/<my-private-network>/<my-private-project>.svg?style=svg&circle_token=<my-api-token> in your browser, does it show the badge correctly?

I’m curious as to whether this is a problem with the badge generation or if the problem only happens when it is embedded in the readme.