I just saw that Steve Aoki completely liquidated his SHIB, sold 1.78 billion tokens for about $10,340. According to Arkham Intelligence, the music producer exited his position in Shiba Inu after holding it for several years. He transferred everything to Gemini, so it seems he's serious about this exit.

The interesting thing is that this isn't just about today's SHIB news. Not long ago, he also liquidated his Pepe tokens, reduced his ETH to just 5, so he's clearly cleaning out his portfolio. The timing is odd considering SHIB has dropped quite a bit since he bought it. According to data, in January 2024 he paid $5,000 for 507 million SHIB, but the token has depreciated significantly since then.

Additionally, he owns 7 Bored Ape Yacht Club NFTs that he bought for $800,000 in 2021, and now they’re worth about $13,800 each. So, between SHIB and the NFTs, this guy has taken pretty big losses over the past few years. I don’t know if he needs cash or just decided to cut his losses. There’s also some technical SHIB news; they say the token broke support and could fall further.

What do you all think, is this a sign that meme coins are dead or is Aoki just doing some personal cleanup?