Vitalik Buterin Dumps Meme Coins, What’s Next For These Assets?

Ethereum co-founder Vitalik Buterin continued massive meme coin offloads, igniting community reactions. This series of sales comes after he was gifted several meme coins. The meme coin market remains in the green zone, with multiple assets that have made huge gains since the start of the year. 

On-chain data shows Buterin sold several meme coins. According to Lookonchain, he offloaded 340B DOG for $19K as well as 10T DINU for $4,181. ESTEE was the largest sale, raking in over $116,000, taking the total to $139,000. These assets were given to the crypto executive for free and are sold with proceeds to charity.

The ESTEE sparked conversations due to a price surge that followed. The asset moved upward nearly 100%, with an overall 9000% trading volume surge to over $3 million. This trend continues for Buterin, with several meme coin sales in the past. 

Last year, he sold 10 billion MOONDENG for about $976K, among others, which took the total meme coin sale to $2.2 million. Other meme coin sales include $35,000 worth of FWOG assets, $67,000 worth of POPCAT, and VITALIK tokens resulting in $14,000, SATO tokens raking in $28,000, etc.

While Buterin donates his meme coin holdings to charity, he encourages projects to do so directly, as well as rolling out positive steps for these assets.

“Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease tech), though I truly prefer if you guys send to charity directly, maybe even make a DAO and get your community directly engaged in the decisions and process. I’ve said before that I think the best thing for memecoins is if they can be maximally positive-sum for the world,” he added. 

Meme Coins Maintain Positive Trend 

While the Buterin sale sparked a buzz and changed the dynamics in some assets, others have struggled based on the wider ecosystem. Traditionally, holding assets boosts momentum while offload reduces sentiments. Sales from Buterin could push some traders in this direction, although it has been a usual occurrence. 

On a more positive note, crypto bulls have maintained pressure this week, with rapid accumulations taking up the price of assets.