Ethereum Founder Dumps Billions In These Meme Coins, Is This A Repeat Of Shiba Inu In 2021?

3 hours ago

Ethereum laminitis Vitalik Buterin precocious offloaded billions successful meme coins. This has brought backmost memories of however Buterin handled the Shiba Inu tokens that SHIB’s laminitis Ryoshi sent to him backmost successful 2021.

Ethereum Founder Offloads Billions Of Meme Coins

On-chain analytics level Onchain Lens revealed successful an X post that the Ethereum laminitis had sold 150 cardinal PUPPIES for 28.58 ETH ($114,480) and 1 cardinal ERC20 for $13,889 USDC. These are tokens that Vitalik received for free, arsenic meme coin teams and the assemblage are known for sending coins to the Ethereum founder.

This signifier dates to arsenic acold backmost arsenic 2021, erstwhile the Shiba Inu laminitis Ryoshi sent 500 trillion SHIB tokens, which represented fractional of the meme coin’s full supply. The Ethereum laminitis famously burned 450 trillion coins by sending them to a dormant wallet, portion helium donated the remaining 50 trillion coins to assistance combat the COVID-19 pandemic astatine the time.

Since then, Vitalik has adopted a akin attack for each meme coin helium receives. The Ethereum laminitis usually sells these coins and past donates the proceeds to charity. He had mentioned past twelvemonth that helium would genuinely similar if these coins were sent straight to charity. Vitalik further advised assemblage members to see mounting up a DAO and getting assemblage members straight progressive successful decision-making.

The Ethereum laminitis added that the champion happening for meme coins is if they tin beryllium maximally positive-sum for the world, and that it volition beryllium large to spot moments erstwhile that really happens. However, these transfers to Vitalik are often viewed arsenic a means for these meme coins to summation their visibility.

Vitalik’s determination with the SHIB tokens undoubtedly contributed to putting Shiba Inu successful the spotlight. He burned those tokens conscionable arsenic the meme coin went connected its legendary tally successful 2021, reaching its existent all-time precocious (ATH) of $0.00008845 successful the process.

A Peek Into Vitalik’s Public Wallet

Arkham data shows that the Ethereum laminitis inactive has much meme coins successful his pubic wallet, which helium received from assemblage members. His largest meme coin holding is presently Moodeng, which helium holds 30 cardinal coins worthy $518,000. Meanwhile, his largest crypto holding successful worth remains ETH. Vitalik holds 240,000 ETH worthy conscionable implicit $1 billion.

The Ethereum laminitis regained his on-chain billionaire presumption pursuing ETH’s interruption supra $4,000 past month. ETH yet reached a caller ATH successful the process, which caused Vitalik’s wealthiness to surge briefly. However, the largest altcoin is presently struggling to clasp supra the intelligence $4,000 level amid the caller crypto marketplace downtrend.

At the clip of writing, the Ethereum terms is trading astatine astir $4,200, up implicit 2% successful the past 24 hours, according to data from CoinMarketCap.