Vitalik Buterin’s Meme Coin Purge: Fake Shiba Inu (SHIB) Dumped for a Laugh

by

Ah, the enigmatic Vitalik Buterin, co-founder of Ethereum, has once again graced us with his cryptic actions. This time, he has decided to rid himself of a plethora of meme coins, selling a mix of lesser-known and, dare I say, fake tokens. According to data from OnChain Lens, Buterin made 315,382 DAI and sold a bunch of meme tokens, converting them into a total of 71.69 ETH, which is about $136,684.

He sold 146.18 billion FML for 2.51 ETH, 7.17 billion VB for 1.57 ETH and 366.47 million AWESOME for 1.44 ETH. But the most interesting transaction was when he sold 180.88 billion SHIB tokens — worth an estimated $2.2 million if they were real Shiba Inu (SHIB) — for less than a single ETH. 😲

Why, you ask? Well, my dear Watson, these tokens are not the real deal; they are imitations of the actual Shiba Inu (SHIB) token. You see, Shiba Inu is a popular cryptocurrency inspired by memes that has gained a cultlike following since it was created. But Vitalik’s actions are not without their own irony.

Vitalik Buterin and Shiba Inu (SHIB): A Tale of Two Tokens

Back in 2021, the creators of Shiba Inu sent half of the token’s total supply to Buterin’s wallet as a marketing stunt to add credibility and allure. But Vitalik, being the enigmatic figure he is, decided to donate a portion to the India COVID-Crypto Relief Fund and burned the rest, reducing its circulating supply significantly. Now, it looks like Buterin is trying to distance himself from any projects that might be seen as imitative or trying to capitalize on SHIB’s popularity.

This seems to be a common issue in the crypto space, where imitation assets use the success of established projects to gain attention. But Vitalik’s actions might be an effort to separate himself from these speculative assets that do not have much real value. After all, who needs fake SHIB when you can have the real thing? 😉

Read More

2025-03-18 15:23