It was revealed that Vitalik Buterin, one of the leading figures of the Ethereum ecosystem, sold a significant amount of meme coins. While this event created a wide debate in the cryptocurrency community, according to transaction data, it was determined that a total of 100,000,000,000,111.11 DOBEs and 1,858,140,000,000 DOJOs were disposed of.
A string uncovered by PeckShieldAlert processing According to Vitalik Buterin exchanged 100,000,000,000,111.11 DOBE for 10.44 ETH worth $36,228.60. He also sold 1,858,140,000,000 DOJO for 3.1258 ETH. These large-scale transactions were recorded as a remarkable event in the cryptocurrency world and sparked a wide-ranging discussion within the community.
#PeckShieldAlert etc (#Vitalik)-labeled address swapped 100,000,000,000,111.111 $DOBE for 10.44 $ETH (worth ~$22.9K) and swapped 1,858,140,000,000 $DOJO for 3.12 $ETH (worth ~$6.8K) pic.twitter.com/7PAId1I8sy
— PeckShieldAlert (@PeckShieldAlert) December 21, 2023
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Vitalik Buterin and Meme Coin Sales
While meme coins have gained popularity in the cryptocurrency industry in recent years, some projects are sending some of their token supply to famous people in order to ensure their legitimacy. This aims to increase the recognition of projects and tokens, attract community attention and ensure investor confidence. However, Vitalik Buterin’s execution of these transactions caused both projects and individual investors to question their approach towards such practices.
It is worth noting that Vitalik has also sold a large number of tokens in the past and his actions are often scrutinized by market analysts. The fact that Vitalik Buterin’s public wallet address has hosted various meme coins over the years, but has no restrictions on how and when he can liquidate these coins, has sparked several discussions in the cryptocurrency community.
One view is that the association of meme coins with famous names could affect trust in the industry and cause a growing backlash in the community against similar practices. Moreover, such incidents may also reveal the need for crypto projects to take more measures regarding transparency and accountability.
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Source : the crypto basic