Yes, a shadowban can potentially result in a loss of followers on Instagram. When a user’s content is shadowbanned, it becomes less visible to other users, which means their engagement and reach may decrease. This can lead to less interaction with their followers, which can cause them to unfollow the account. Additionally, if the shadowban is caused by the use of banned hashtags or other Instagram policy violations, the account may be reported and face additional consequences, which could further impact their follower count.