Over 1,200 Shiba Inu (SHIB) addresses now hold at least $1 million worth of the asset, despite recent market downturns. However, SHIB's value has dropped below $0.000008 for four consecutive days, causing a significant depreciation in the value of SHIB held by investors. The number of addresses holding SHIB worth between $1 million and $10 million has decreased to 1.15K, while only 57 addresses hold SHIB worth $10 million or more.

This decline in addresses worth at least $1 million can be attributed to the drop in SHIB's price and the latest distribution campaign that has seen several whale addresses sell off their assets. Despite this, small Shiba Inu addresses have accumulated more tokens in the past 30 days, while SHIB seeks to defend against further declines.