Any publicity is good publicity ๐ฆ Vitalik Buterin is known for selling off memecoins received by various projects for charitable purposes, and that is still the case, even today. The co-founder of Ethereum recently sold 10 billion MOODENG tokens, an Ethereum-based memecoin inspired by the viral pygmy hippo Moo Deng, to fund further development of technology against airborne diseases. The proceeds from the sale, worth approximately $181,000 in ETH, were then sent to Kanro, an entity formed by Buterin. Normally, Vitalik's actions would have caused the price of the associated token to plummet soon after, as evidenced by other memecoins he received that were also sold for charity. This time, however, the price of MOO DENG on Ethereum surged by 65% shortly after Vitalik posted about the memecoin on X. The memecoin's market cap also rose from $49M to a peak of $109M but has since retreated to $85M today. |
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