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  3. Ethereum Founder’s Sales Propel These 28 Meme Coins! Here’s the Full List…

Ethereum Founder’s Sales Propel These 28 Meme Coins! Here’s the Full List…

Ethereum Kurucusunun Satışları Bu 28 Meme Coin'i Uçurdu!
Ethereum Kurucusunun Satışları Bu 28 Meme Coin'i Uçurdu!
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Ethereum co-founder Vitalik Buterin is once again in the spotlight for meme coin sales. Wallets linked to Buterin sold 28 different meme coins worth a total of $1 million. As in previous cases, these sales caused notable fluctuations in the market.

Buterin’s Meme Coin Sales

Buterin’s transactions sparked rapid price changes in the meme coin market. Meme coins with low liquidity often trade below market value when large quantities are sold. However, this time, several tokens experienced the opposite effect and gained value. For instance, Estee, a Shiba Inu-themed meme coin, saw a 112% rally after Buterin sold approximately $116,000 worth of tokens. Similarly, dog-themed tokens like Marvin Inu soared. Other meme coins such as Ethereum is Good and Terminus also witnessed significant price increases following the sales.

On the flip side, some meme coins depreciated after the sales. For example, a token called Ledog plummeted by 65% post-sale. Additionally, tokens like Dogey-Inu, AstroElon, and Amaterasu Omikami entered a downward trend.

Meme Coin Marketing Strategy: Sending Tokens to Buterin

Meme coin projects often use the strategy of sending large amounts of tokens to Buterin’s wallets as a marketing tactic. This practice gained popularity with the launch of Shiba Inu (SHIB) in 2021. The idea was that sending tokens to Buterin would reduce the circulating supply, indirectly driving up prices. However, Buterin disrupted these expectations by disposing of the tokens differently. For instance, he donated part of the SHIB tokens and sent others to an inaccessible address, effectively removing them from circulation.

Initially, these strategies caused price drops. After Buterin donated $1 billion worth of SHIB tokens, its price fell by 50%. However, recently, Buterin’s sales have led to unexpected rallies for some meme coins. In October 2024, for instance, a meme coin called Moo Deng, themed around Ethereum, surged by 480% following Buterin’s sale.

Meme Coin Sales for Charity

Vitalik Buterin often channels the proceeds from his meme coin sales into charitable causes. In October, he announced that funds from his sales would be donated to a technology charity focused on combating airborne diseases. A similar sale in August supported effective altruism initiatives. It remains unclear which charity will benefit from the proceeds of his latest sales.

A Mixed Impact on Meme Coin Prices

Buterin’s $1 million meme coin sales caused some tokens to gain value while others experienced sharp declines. While meme coin projects continue to use Buterin as part of their marketing strategy, the sudden price swings these sales create remain a defining feature. As reported by Kriptokoin.com, the founder of Aave Chan recently criticized the Ethereum team over these sales.

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Ethereum Founder’s Sales Propel These 28 Meme Coins! Here’s the Full List…
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