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Just saw that Steve Aoki completely liquidated his SHIB this week. The guy sold 1.78 billion tokens for about $10,340, which shows how much the price has dropped since he bought them. It's crazy to see how positions we thought were solid can turn into losses so quickly.
It's not just SHIB, by the way. He also reduced his Ethereum and even liquidated his Pepe coins a few weeks earlier. All the funds were transferred to Gemini. The guy even had BAYC NFTs purchased for over $800k in 2021, but now each NFT is only worth around $13,800. It's a brutal reminder of what happened in the NFT and meme coin markets.
Arkham Intelligence spotted all this by analyzing his blockchain. For those following SHIB news, it's interesting to see how even early adopters ended up with massive losses. The price of SHIB has really plummeted, and analysts think it could keep falling. It makes you think about the volatility of this market.