MOODENG Soars 300% After Vitalik Buterin’s $1.8M Sale
MOODENG Meme Coin Soars 300% as Buterin Turns $1.8M Sale into Charity
Ethereum co-founder Vitalik Buterin has once again sold off a large amount of meme coins, this time selling 10 billion units of MOODENG. The sale raised around $1.8 million, which Buterin donated to charitable causes, sparking a surge in MOODENG’s value.
What’s the News?
Vitalik Buterin sold 10 billion units of MOODENG, a meme coin that he received from its creators, in six separate transactions. The total value of the coins, based on their market price of $0.00018, amounted to approximately $1.8 million.
The proceeds were donated to charity, aligning with Buterin’s ongoing practice of using meme coins for philanthropic purposes.
Buterin clarified in a social media post that the coins had been sent to him without solicitation, and he would continue selling any future meme coins sent to him, donating the proceeds to causes like anti-airborne-disease technology.
He praised the concept of meme coins contributing to charitable efforts, emphasizing that it can turn a popular trend into something positive for the world.
This isn’t the first time Buterin has made headlines for selling and donating meme coins. Earlier in 2024, he sold his holdings of the Neiro meme coin, following the request of its creators to support an animal shelter.
The value of Neiro spiked soon after. A similar pattern emerged with MOODENG, whose value increased by 300% after Buterin’s sale.
The MOODENG creators did not directly donate to charity, but their unsolicited gift to Buterin led to significant support for disease prevention research. This action highlights Buterin’s growing influence in turning meme coins into vehicles for good causes.
Conclusion
Vitalik Buterin’s sale of MOODENG shows how meme coins can be repurposed for charitable causes. While meme coins often face criticism, Buterin’s use of them to support charitable work demonstrates their potential to create positive social impact.
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