Vitalik Buterin Sells Meme Coins Again, Could Shiba Inu Repeat History?

TLDR

• Vitalik Buterin has sold 150 billion Puppies tokens for 28.58 ETH and 1 billion ERC20 tokens for $13,900.
• Buterin’s sale of Puppies tokens caused a 70% drop in its value, attracting significant market scrutiny.
• The recent sales by Buterin have led to comparisons with his 2021 Shiba Inu token move.
• In 2021, Buterin donated a portion of Shiba Inu tokens to charity and burned the rest, causing a market stir.
• Buterin’s quick sell-off of meme coins continues to highlight the volatile nature of tokens tied to Ethereum’s creator.

Ethereum creator Vitalik Buterin has once again sold meme coins, sparking reactions across the crypto market. On-chain data reveals that Buterin sold 150 billion Puppies tokens for 28.58 ETH (around $114,000). He also offloaded 1 billion ERC20 tokens, totaling $13,900 in USDC. These actions bring back memories of Buterin’s 2021 Shiba Inu (SHIB) token sales.

Puppies Token Faces Immediate Scrutiny

Vitalik Buterin’s sale of Puppies tokens sent ripples through the market. The transaction occurred just as the token gained some attention. Buterin’s offloading led to a rapid 70% drop in the value of Puppies. Traders expressed concern over the token’s long-term viability. Many noted that Buterin’s habit of dumping meme coins creates a pattern that undermines investor confidence.

Shiba Inu’s (SHIB) 2021 Effect Revisited

Back in 2021, Buterin made headlines when he sold billions of Shiba Inu tokens. After receiving the tokens from the SHIB creators, he donated a significant portion to India’s relief fund. He then burned the remaining SHIB tokens, triggering a major price shift. The market reacted with shock, but it also propelled SHIB into greater public attention, solidifying its place in crypto history.

The situation with Puppies has drawn comparisons to Shiba Inu’s past. Traders are now questioning whether this will follow the same path. Buterin’s pattern of buying meme coins and selling them quickly has created a clear trend. Despite the hype around meme coins, Buterin’s actions remind investors of their volatility and risk.

Vitalik Buterin’s latest sales reinforce the notion that meme coins, even those tied to Ethereum’s creator, remain unpredictable.

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