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I noticed that Steve Aoki completely liquidated his position in Shiba Inu coin this week. According to data from Arkham Intelligence, he sold 1.78 billion SHIB for about $10,340 and sent everything to Gemini. It seems like the guy is really leaving the meme token game, because weeks ago he had already unloaded his positions in Pepe as well.
The interesting thing is that Aoki bought a lot of SHIB in January 2024, spending around $5 thousand for 507 million tokens. Now the price is much lower, so he basically lost money. Additionally, he still holds 7 Bored Ape NFTs that cost over $800 thousand back then, but each is now worth about $13,800. In other words, the guy took a serious hit on multiple fronts in crypto.
It seems that the meme coin Shiba Inu is no longer attracting even early believers. When someone like Aoki starts to exit, it's a sign that the cycle might really be changing.