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This week, I saw an interesting piece of news — Steve Aoki has completely exited the Shiba Inu coin. Blockchain data shows he sold 1.78 billion SHIB, which was worth only $10,340. It means he held onto this Shiba Inu coin for years, only to exit at such a low price in the end.
Even more interesting, he didn't just sell Shiba Inu; he also sold a lot of Ethereum and transferred the funds to Gemini Exchange. A few weeks earlier, he also exited his PEPE meme coin holdings. Looks like he now has only 5 ETH left in his wallet.
In January, he spent 2.2 ETH to buy 507 million Shiba Inu coins, but now, with that same amount of money, he can buy double the SHIB — meaning the price has dropped significantly. Technical indicators also suggest it could go lower.
The saddest part is, he still owns 7 Bored Ape NFTs that he bought in 2021 for $800,000. Now, each one is only worth $13,800. Both the NFT market and the Shiba Inu coin have suffered big losses for him.