Crypto Market Volatility Ahead: Aoki Exits SHIB, Ethereum Surges

Steve Aoki, a well-known DJ and cryptocurrency enthusiast, has exited his four-year investment in Shiba Inu (SHIB) tokens on Gemini, according to blockchain analytics platform Arkham. The musician held SHIB for over four years, going through the 2021 peak and subsequent decline.

Aoki's exit from SHIB marks a significant event in the meme coin's history, reflecting broader disappointment among high-profile holders in speculative crypto assets from the previous cycle. This development may signal a fading belief in speculative memes of the 2020s, with SHIB serving as a showcase of that era.

Meanwhile, Ethereum (ETH) has seen a significant influx of institutional inflows, with $196.5 million pouring into the asset last week. This is a sharp contrast to the previous week, when ETH recorded outflows of $52.8 million. XRP, on the other hand, attracted only $19.3 million this week, a decline of 84% from its previous week's inflows.

Industry trader DonAlt believes that Bitcoin (BTC) is not broken and will eventually resolve upward, despite current geopolitical tensions and consolidation. He predicts a 'final push' toward new yearly highs once tensions stabilize. The upcoming U.S. PPI data release on April 14 may have a significant impact on the market, with expectations pointing to an increase in interest rates.