Blockchain analytics firm Arkham Intelligence reports that American music producer and former NFT advocate Steve Aoki has exited his position in Shiba Inu.
The latest transaction appears to mark the end of Aoki’s multi-year involvement with the token. On-chain data shows that he sold his remaining Shiba Inu holdings along with some Ethereum and transferred the proceeds to the U.S.-based exchange Gemini.
Key Points
- Steve Aoki sold 1.78 billion SHIB (about $10,340), fully exiting his Shiba Inu position after holding it for several years.
- He also reduced his Ethereum holdings, retaining only about 5 ETH in his wallet.
- The proceeds from these sales were transferred to the Gemini crypto exchange.
- Weeks earlier, Aoki liquidated his Pepe holdings, suggesting the sell-off extends beyond SHIB alone.
Aoki Closes His Shiba Inu Position
Blockchain wallets linked to Aoki executed a series of transactions this week. However, the latest activity drew particular attention from Arkham Intelligence, which confirmed that the music producer had fully liquidated his Shiba Inu holdings.
According to Arkham, Aoki sold approximately 1.78 billion SHIB, worth about $10,340 at the time of the transaction. This single sale effectively closed his position in Shiba Inu after holding the token for several years. Shortly after completing the sale, Aoki transferred the proceeds to the crypto exchange Gemini.
Meanwhile, the SHIB liquidation forms part of a broader selling trend. In recent weeks, Aoki also exited his position in the meme coin Pepe and reduced his exposure to Ethereum, leaving only five ETH in his wallet.
SHIB Decline Erodes Earlier Purchases
Aoki accumulated his SHIB tokens through several transactions over time. For instance, in January 2024, he swapped 2.2 ETH, then worth roughly $5,000, for 507.66 million SHIB.
However, the price of Shiba Inu has declined significantly since then. At the current price of about $0.000005872, the same $5,000 would now purchase approximately 851.06 million SHIB, illustrating the token’s steep depreciation.
Furthermore, technical indicators suggest that the downturn could continue. Analysts note that SHIB recently broke below an ascending support line, prompting projections of a potential decline toward $0.0000052.
Beyond SHIB, Aoki has also experienced substantial losses in the NFT market. According to Arkham Intelligence, the DJ still holds seven NFTs from the Bored Ape Yacht Club. He purchased these assets for over $800,000 during the 2021 NFT boom.
Today, however, each NFT is valued at roughly $13,800, reflecting the sharp correction across the digital collectibles market.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
