Ethereum founder Vitalik Buterin has been once again on a meme coin-dumping spree recently offloading a few dog-themed meme coins like ESTEE, LDOG, etc. The recent dump comes after ESTEE price rallied 440% from its intraday low in a massive investor buying.
Vitalik Buterin Offloads 50 Billion ESTEE As Price Surges
As per the data from blockchain analytics platform Nansen, Ethereum co-founder Vitalik Buterin has reportedly sold 50.54 billion ESTEE meme coins, netting 116,306 USDC stablecoin in the process. The transaction took place through his known address, 0xab58…9aec9b.
ESTEE is a dog-themed meme coin particularly inspired by Shiba Inu (SHIB). Another meme coin VICKY, called ESTEE’s daughter, is also seeing strong trading activity.
While the ESTEE price saw some dip after selling by Vitalik Buterin, it has quickly recovered rallying all the way to $0.00001903 taking the daily gains to more than 200%, and a nearly 8x surge from its intraday bottom of $0.0000023. Additionally, the daily trading volume has surged by a massive 9141% all the way to $3.16 million.
Dumping Other Meme Coins
Apart from ESTEE, Vitalik Buterin also offloaded other meme coins from his wallet in the last 24 hours. Buterin offloaded 340 LDOG tokens in exchange for 5.2 ETH approximately 13 hours prior to the ESTEE transaction. Additionally, he also sold over 10 trillion DINU coins for 4181 USDC. The sales have sparked discussions within the crypto community about Buterin’s portfolio adjustments and their potential market impact.
The Ethereum creator has continued to receive coins from different crypto projects as a gift. As a result, he has also been offloading meme coin holdings and donating the proceeds from it periodically. Thus, the current selling from Buterin is nothing new and very much part of the routine.
Last week, embraced a new role as the foster parent of Moo Deng, a baby pygmy hippopotamus. According to a statement from Khao Kheow Open Zoo on Thursday, Vitalik Buterin has joined their Wildlife Sponsorship Program, officially adopting the famous young hippo. This announcement was enough to send the meme coin MOODENG soaring higher by 70% in a day.
In his latest blog post, the Ethereum founder has also made suggestions on halting access to computational resources to “buy more time for humanity” amid the growing threats of AI superintelligence. He recommends donating these meme coins for charity.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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