The news just came out: Steve Aoki completely liquidated his position in SHIB. The music producer sold 1.78 billion Shiba Inu tokens for approximately $10,340 and moved everything to Gemini. According to Arkham Intelligence data, this marks the end of years of involvement in the shib coin.

What’s interesting is that this wasn’t just an isolated move. He recently also closed his position in Pepe and drastically reduced his Ethereum holdings, leaving only 5 ETH in his wallet. It seems Aoki is exiting multiple crypto positions at the same time.

The story of this shib coin with Aoki is quite revealing about how the market has fallen. In January 2024, he exchanged 2.2 ETH ( for about $5,000 at that time) for 507.66 million SHIB. But the price has plummeted since then. Today, those same $5,000 would buy much more SHIB than back then, showing how much the coin has lost value.

Additionally, analysts see negative technical signals for the shib coin. The token broke below an important support line, and projections suggest it could fall to $0.0000052. Aoki’s NFTs are also in the red — he bought seven Bored Apes for over $800,000 in 2021, but now each is worth only around $13,800.

Basically, it seems Aoki is cutting losses after years with these assets. It’s not the best time to be into crypto collectibles.