NFT bull Steve Aoki sells his SHIB, ETH, and PEPE. His Bored Apes are down 88%.

📰 CoinDesk


📉 Bearish

AI Summary

Celebrity DJ Steve Aoki, who was a prominent NFT and crypto advocate in 2021, is selling his cryptocurrency holdings including SHIB, ETH, and PEPE while his Bored Ape NFTs have lost 88% of their value. This represents a high-profile exit from crypto by someone who previously predicted NFTs would become mainstream culture.

Market Impact

High-profile celebrity exits from crypto can contribute to negative sentiment and may signal broader institutional or retail capitulation. This could create selling pressure across crypto markets including Bitcoin as it reinforces narratives about the end of the previous cycle's speculative excess.

💡 Trader Note: Monitor Bitcoin's reaction at key support levels as celebrity capitulation often coincides with late-stage selling pressure that can create short-term downside volatility.