Recently, the creator of Ethereum, Vitalik Buterin, has been unloading some dog-themed meme coins such as ESTEE and LDOG. This action follows a price surge in ESTEE, which skyrocketed by 440% from its daily low due to heavy investor buying.
Vitalik Buterin Offloads 50 Billion ESTEE As Price Surges
According to reports from blockchain analysis platform Nansen, Vitalik Buterin, co-founder of Ethereum, is said to have sold approximately 50.54 billion ESTEE meme tokens. These sales resulted in him receiving around 116,306 USDC stablecoins. This transaction was conducted using his publicly recognized wallet address, which is 0xab58…9aec9b.
ESTEE is a meme cryptocurrency centered around dogs, with Shiba Inu (SHIB) as its main inspiration. Another similar meme coin, named VICKY, has been gaining significant attention and is often referred to as ESTEE’s daughter due to their shared theme.
Despite a temporary drop in ESTEE’s price following Vitalik Buterin’s sale, it swiftly bounced back, reaching $0.00001903 and gaining over 200% for the day, representing an almost 8-fold increase from its intraday low of $0.0000023. Moreover, the daily trading volume experienced a staggering 9141% surge, peaking at $3.16 million.
Dumping Other Meme Coins
Beyond just ESTEE, Vitalik Buterin recently moved other popular meme tokens out of his digital wallet over the past day. Specifically, around 13 hours before the ESTEE transaction, he swapped 340 LDOG tokens for roughly 5.2 Ether. Moreover, he traded more than 10 trillion DINU coins for about 4181 USDC. These transactions have ignited speculation within the crypto world regarding Buterin’s portfolio modifications and their possible effects on the market.
The individual who founded Ethereum has consistently received cryptocurrencies as gifts from various crypto initiatives. Consequently, he’s also been regularly disposing of meme coin holdings and donating the earnings, which he occasionally distributes. Therefore, Buterin’s recent selling should not come as a surprise and is simply part of his regular routine.
Previous week, I assumed the caretaker position for Moo Deng, a baby pygmy hippopotamus. As per a statement from Khao Kheow Open Zoo last Thursday, Vitalik Buterin has become part of their Wildlife Sponsorship Program, making him the official guardian of the well-known young hippo. This revelation led to an impressive 70% surge in the value of the meme coin MOODENG within a day.
In a recent blog entry, the creator of Ethereum has additionally proposed a strategy to restrict computational resources as a means to buy additional time for mankind in response to the escalating dangers posed by AI superintelligence. He advocates for giving away these digital meme tokens to charitable causes.
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2025-01-06 16:05