Ethereum Founder Dumps Billions In These Meme Coins, Is This A Repeat Of Shiba Inu In 2021?
Ethereum founder Vitalik Buterin lately offloaded billions in meme cash. This has introduced again reminiscences of how Buterin dealt with the Shiba Inu tokens that SHIB’s founder Ryoshi despatched to him again in 2021.
Ethereum Founder Offloads Billions Of Meme Coins
On-chain analytics platform Onchain Lens revealed in an X post that the Ethereum founder had offered 150 billion PUPPIES for 28.58 ETH ($114,480) and 1 billion ERC20 for $13,889 USDC. These are tokens that Vitalik obtained without cost, as meme coin groups and the neighborhood are recognized for sending cash to the Ethereum founder.
This apply dates to way back to 2021, when the Shiba Inu founder Ryoshi despatched 500 trillion SHIB tokens, which represented half of the meme coin’s total supply. The Ethereum founder famously burned 450 trillion cash by sending them to a useless pockets, whereas he donated the remaining 50 trillion cash to assist battle the COVID-19 pandemic on the time.
Since then, Vitalik has adopted the same method for each meme coin he receives. The Ethereum founder normally sells these cash after which donates the proceeds to charity. He had mentioned final yr that he would actually choose if these cash had been despatched on to charity. Vitalik additional suggested neighborhood members to think about establishing a DAO and getting neighborhood members immediately concerned in decision-making.
The Ethereum founder added that the most effective factor for meme cash is that if they are often maximally positive-sum for the world, and that it will likely be nice to see moments when that really occurs. However, these transfers to Vitalik are sometimes considered as a method for these meme cash to extend their visibility.
Vitalik’s transfer with the SHIB tokens undoubtedly contributed to placing Shiba Inu within the highlight. He burned these tokens simply because the meme coin went on its legendary run in 2021, reaching its present all-time high (ATH) of $0.00008845 within the course of.
A Peek Into Vitalik’s Public Wallet
Arkham data exhibits that the Ethereum founder nonetheless has extra meme cash in his pubic pockets, which he obtained from neighborhood members. His largest meme coin holding is at the moment Moodeng, which he holds 30 billion cash value $518,000. Meanwhile, his largest crypto holding in worth stays ETH. Vitalik holds 240,000 ETH value simply over $1 billion.
The Ethereum founder regained his on-chain billionaire standing following ETH’s break above $4,000 final month. ETH eventually reached a brand new ATH within the course of, which prompted Vitalik’s wealth to surge briefly. However, the biggest altcoin is at the moment struggling to carry above the psychological $4,000 stage amid the latest crypto market downtrend.
At the time of writing, the Ethereum worth is buying and selling at round $4,200, up over 2% within the final 24 hours, in accordance with data from CoinMarketCap.
