Capitulation Signal? Steve Aoki Dumps SHIB, ETH, PEPE Amid Deep NFT Drawdown

Aoki exits meme coins at a loss as weak demand and falling prices signal continued pressure across speculative crypto assets.

Celebrity crypto portfolios often mirror broader market cycles, shifting with sentiment and liquidity trends. Recent on-chain activity tied to Steve Aoki suggests a late-stage unwind of speculative positions. Data shows a steady exit from meme tokens and major assets, while NFT holdings remain deeply underwater. Activity offers a snapshot of how even high-profile participants have adjusted after the last cycle’s excesses.

Wallet Data Shows Steve Aoki Exiting Meme Coins at a Loss

Wallet data from Arkham Intelligence indicates Aoki sold 1.785 billion Shiba Inu for about $10,300 and swapped 7.25 Ethereum for roughly $15,900. Combined proceeds of $29,650 were routed into USDT and sent to Gemini. Two weeks earlier, the same wallet exited 4.155 billion Pepe for $14,700 via 1inch. Smaller stablecoin transfers followed, ranging between $600 and $1,700.

Earlier accumulation tells a different story. In January 2024, Aoki swapped 2.2 ETH, then valued at nearly $5,000, for 507.66 million SHIB. Since then, price erosion has been severe. At current levels around $0.000005872, that same $5,000 would now buy roughly 851 million SHIB. The shift reflects heavy depreciation across meme tokens.

Technical signals point to continued weakness, as SHIB recently broke below an ascending support line. Analysts now eye a move toward $0.0000052. Momentum remains soft, with limited signs of sustained demand returning.

‘Dominion X’ Falls Short as NFT Funding Model Struggles to Deliver

Aoki also spent over $800,000 on seven Bored Ape Yacht Club NFTs during the 2021 boom. Current floor pricing puts those assets at about $13,800 each, or about $97,000 total. That marks an 88% drawdown. Holdings remain unsold, though recovery potential appears limited under present conditions.

Aoki backed “Dominion X,” a series tied to NFT ownership, alongside Seth Green’s studio. The project sold 500 NFTs on Nifty Gateway within seconds. Revenue barely covered production costs, and the show never reached broadcast.

Market structure has shifted since the last cycle. Although Bitcoin reached new highs above $126,000, NFT valuations failed to follow. And as capital rotated toward assets with clearer utility and liquidity profiles, speculative collectibles lost priority.

Even though Aoki still holds his BAYC NFTs, most other crypto exposure has now been converted and moved off-wallet, marking a near-complete exit from prior positions.

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