As a seasoned researcher with years of experience in the volatile world of cryptocurrencies, I find Vitalik Buterin’s recent move to offload his entire Neiro token holdings intriguing. It’s not every day that you see the co-founder of Ethereum selling a memecoin, especially one that is Shiba Inu themed and capitalizes on the success of Dogecoin.
Vitalik Buterin, a co-founder of Ethereum, sold all his Neiro tokens, a memecoin inspired by Shiba Inus. This action followed the Neiro team’s distribution of 17.145 billion tokens to his Ethereum account, making him momentarily the largest coin holder. This substantial amount represented around 4% of Neiro’s total supply, worth roughly $130,000 when transferred.
Buterin Dumps Shiba Inu Themed Memecoin
As a crypto investor, I recently noticed that, based on real-time transaction data from Lookonchain, Vitalik Buterin has sold his holdings of approximately 17.15 billion Neiro for around 44.53 Ether (ETH), which is roughly equivalent to $112,500. This transaction was detailed by the analytics provider on X, where they stated, “Vitalik Buterin just sold all his 17.15B Neiro for 44.53 ETH ($112.5K) an hour ago. Interestingly, the Neiro team transferred 17.15B Neiro (4.08% of the total supply) to vitalik.eth after the launch.”
After the sale, the Neiro project team reached out to Vitalik Buterin through a post on their X page, asking if he would consider donating some of the money from his sale to a stray dog shelter. Their message was: “Hi Vitalik Buterin, we noticed that you sold your Neiro funds. We kindly request that you donate some of it to a local dog shelter. Thanks for creating our playground!”
The Nairo team pointed out that they personally contributed $1,600 towards the Chibawan stray dog shelter in Japan, where the memecoin’s Shiba Inu dog named Neiro resided prior to being adopted by the owner of Kabosu.
In a nutshell, Neiro is a meme-based cryptocurrency that resembles Kabosu, the actual sibling of the Shiba Inu dog featured in the popular Doge meme. It was introduced on the Ethereum blockchain, mirroring the success of Dogecoin. The project’s unique selling point is its strong emphasis on community involvement and it has been actively participating in philanthropic endeavors, such as donations to animal shelters.
Significantly, the story about the token airdrop and Buterin’s actions afterwards has sparked much debate, with media coverage being a major point of contention. In response, an official statement from Neiro criticized an article by Cointelegraph, pointing out inaccuracies and accusing them of questionable journalistic standards.
In my analysis, I would like to emphasize that I have found several assertions in the article to be untrue. Specifically, I wish to clarify that the distribution of tokens was not part of an orchestrated promotional scheme. Instead, it appears to have been a decision made by the project developer prior to the project becoming community-driven.
The NEIRO team clarified that on August 4th, they did not distribute tokens to the Ethereum co-founder as a means of boosting credibility. Instead, those tokens were previously airdropped by another developer who abandoned the project before it was taken over by the community. The distribution of tokens was not a deliberate public relations strategy planned by the community; rather, it was an unintended event.
Beyond this, they emphasized that Neiro is a project backed solely by the community, free from associations with market manipulators or promotional entities. In contrast to certain other projects who may employ such strategies, their statement was: “We are truly a community-driven initiative, not connected in any way to the original developer who left it shortly after its debut. Our funding comes exclusively from our community, and we do not engage market makers, bots, or influencers (KOLs) to artificially inflate prices, as is often seen with other Neiro tokens.”
At press time, NEIRO traded at $0.1246.
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2024-08-05 23:42