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Aoki completely sells out of Shiba Inu after selling 1.78 billion SHIB
Arkham Intelligence tracked a large movement: music producer Steve Aoki fully liquidated his position in Shiba Inu. He sold 1.78 billion SHIB for about $10,340 and transferred the funds to the Gemini exchange. This marks the end of a stake he had held for several years.
The latest news about SHIB shows that Aoki also reduced his holdings in Ethereum, now only holding 5 ETH in his wallet. Weeks earlier, he had already exited Pepe as well. It seems to be a general cleanup of meme coin positions.
The context is interesting: when Aoki bought SHIB in January 2024, he spent 2.2 ETH ( worth $5,000) and received 507 million tokens. But the price of SHIB has plummeted since then. With the current quote around $0.000005872, that same dollar amount would now buy 851 million SHIB — showing how much the token has devalued.
Analysts point out that SHIB broke through an important support line, which could indicate a decline toward $0.0000052. Additionally, Aoki still holds seven NFTs from the Bored Ape Yacht Club that he bought for over $800,000 back in 2021, but today each is only worth about $13,800. Basically, the latest news about SHIB reflects a broader trend of correction in the crypto and NFT markets after the previous boom.