Several #Shibainu investors have suffered significant losses in the last month as the market value and price of SHIB have plummeted.

SHIB had a market worth of $6.14 billion as of August 14, according to CoinMarketCap statistics. But, the asset's market valuation has plummeted in the last month, and it is now worth $4.29 billion at the time of writing (September 13).

This demonstrates that SHIB's market valuation has fallen by 35.47% in the last 30 days, with the asset shedding $1.85 billion from its market cap over this period.

89% of SHIB addresses are at risk.

As a result, the loss of $1.85 billion from SHIB's market capitalization in one month has had a significant impact on the token's price.

According to CMC statistics, the price of SHIB fell from $0.00001043 on August 14 to $0.00000725 on September 13, a reduction of 35.97% in one month.

Significantly, the recent dramatic drop in $SHIB price has resulted in large losses for many investors. At the time of publication, IntoTheBlock statistics reveals that 89% of addresses are currently holding SHIB at a loss.

With the current price of $0.00000725, just 9% of SHIB holders are profitable, while 3% of addresses holding the token are at breakeven.

SHIB and Other Top Coins Drop

It is worth noting that with the mainnet launch of Shibarium, the Shiba Inu ecosystem L2 blockchain, several investors predicted August to be a strong month for SHIB.

Unfortunately, the network's introduction did not have a substantial influence on the price, as intended. After topping 2 million transactions yesterday, the price of SHIB has remained relatively low.

Also, the general success of the #crypto market has had a significant impact on the price of SHIB.

The market is presently in a bear cycle, resulting in a significant drop in cryptocurrency values. BTC, ETH, BNB, and XRP prices have fallen 11.1%, 13.6%, 11.9%, and 23.4%, respectively, during the last month.

Shiba Inu Team Dedicated to SHIB Adoption

Nonetheless, the Shiba Inu development team is optimistic that the asset's price will rise again. Its primary goal has been to introduce new technology and promote SHIB usage.

These measures may assist SHIB's price rise in the long run. Meanwhile, the community believes that destroying a large portion of SHIB's circulating supply will cause the token's price to skyrocket.

Shytoshi Kusama, Shiba Inu's principal developer, believes otherwise, emphasising the significance of providing new technologies and services for Shib.