Ethereum 
$3,684‘s co-founder, Vitalik Buterin, has recently sold off dog-themed meme coins such as ESTEE and LDOG. These sales occurred after ESTEE experienced a significant increase of 440% in value within the day.
Impact of ESTEE Sales on the Market
According to data from the blockchain analytics platform Nansen, Buterin sold 50.54 billion ESTEE meme coins, generating 116,306 USDC. The sale took place via a known address.
Inspired by Shiba Inu, ESTEE is a meme coin that has also seen strong trading volume activity with another meme coin named VICKY. Although there was a temporary drop in ESTEE’s price post-sale, it quickly rebounded, resulting in a daily gain exceeding 200%.
Buterin’s General Meme Coin Strategy
In addition to ESTEE, Buterin sold LDOG and DINU Coins within the last 24 hours, earning approximately 5.2 ETH from LDOG and 4,181 USDC from DINU. These transactions have sparked discussions within the crypto community regarding the potential market impacts of Buterin’s portfolio adjustments.
Buterin often receives coins from various crypto projects, as they send them unsolicited to his wallet. He sells these coins and regularly donates the proceeds, making these sales part of his routine practice.
Many meme coin projects send a portion of their supply to him for promotional purposes. Projects like Shiba Coin have sent him half of their supply or varying amounts. As token values rise, the substantial supply appreciates in dollar terms, gaining public attention. Notably, when Shiba Coin reached a certain price level, Buterin donated a portion to aid victims of natural disasters in India.
Buterin’s actions continue to be closely monitored in the crypto markets and community, providing insights into his future strategic directions.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
