7 Shocking Moves as NFT Bull Steve Sells Crypto Holdings
NFT Bull Steve sells ETH SHIB PEPE amid market downturn
Prominent NFT trader NFT Bull Steve sold his holdings in Ethereum (ETH), Shiba Inu (SHIB), and Pepe (PEPE) in April 2026 across major crypto exchanges, citing prolonged market weakness and declining NFT valuations. The move follows reports that his Bored Ape–style NFT portfolio has dropped by approximately 88%, reflecting the broader downturn in the non-fungible token (NFT) market and reduced speculative activity.
The development that NFT Bull Steve sells ETH SHIB PEPE highlights a major shift in sentiment among high-profile traders. Ethereum, the backbone of most NFT ecosystems, has seen slower activity, while meme coins like SHIB and PEPE continue to face volatility and declining retail enthusiasm.
The 7 Key Moves Behind the Sell-Off
1. Liquidating Ethereum (ETH) holdings to reduce exposure to NFT-linked assets.
2. Selling Shiba Inu (SHIB) amid weakening meme coin momentum.
3. Offloading Pepe (PEPE) tokens following recent volatility spikes.
4. Exiting high-risk meme coin positions to limit further downside.
5. Reducing NFT exposure after an estimated 88% portfolio decline.
6. Shifting strategy toward capital preservation in uncertain conditions.
7. Reallocating funds into more stable or utility-driven assets, signaling a strategic reset.
Analysts note that the 88% drop in NFT valuations reflects declining liquidity, fading hype cycles, and a broader recalibration of digital asset pricing. Collections once considered premium have faced significant corrections, reinforcing the risks of concentrated exposure.
Despite the sell-off, some investors see this as a calculated repositioning rather than panic selling. The crypto market is gradually transitioning toward fundamentals, where utility and long-term value are becoming more important than speculation.
The move could intensify bearish sentiment in NFTs and meme coins, potentially accelerating price corrections across similar assets. Recovery will depend on renewed innovation, stronger use cases, and improved investor confidence in the NFT sector. Experts advise diversification and disciplined risk management, emphasizing that speculative assets require careful allocation strategies.