Ethereum creator Vitalik Buterin sold 10 billion units of the meme coin MOO DENG (MOODENG) and donated the proceeds to charity. MOODENG’s value spiked 300% after this sale.
Based on the current market price of $0.00018, Buterin’s MOODENG tokens are worth around $1.8 million. The sale is part of a broader trend of meme coin charitable transactions in the latter half of 2024.
Buterin’s MOODENG Sale
On-chain transaction data reveals that Vitalik Buterin, creator of Ethereum, sold 10 billion units of new meme coin MOODENG in six batches. Buterin explained this sale through a social media post, where he stated that these coins were given to him by their creator.
Buterin added that any other coins sent to him would also be sold and donated to causes like anti-airborne-disease tech:
“I appreciate all the meme coins that donate portions of their supply directly to charity. I’ve said before that I think the best thing for meme coins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens,” Buterin said.
Read More: Who Is Vitalik Buterin? An In-Depth Look at Ethereum’s Co-Founder
From one angle, this is just another step in Buterin’s recent kick of meme coin charity donations. In late March, Buterin commented on the charitable applications of meme coins. Moreover, throughout 2024, Buterin made plenty of meme coin donations from him.
In early August, he sold his entire stock of Neiro, and its creators asked him to donate some of the proceeds to an animal shelter. He did this publicly, and Neiro’s value shot up significantly. Also, MOODENG has rallied tremendously since Buterin’s donations.
In other words, Buterin may have discovered a way to increase the utility of these meme coins for charitable transactions. MOODENG’s creators didn’t directly contribute to charity, but their unsolicited drop benefitted disease prevention research nonetheless.
Read More: Which Are the Best Altcoins To Invest in October 2024?
Certain sections of the crypto space criticize meme coins, but maneuvers like this seem to be an unambiguous public good.
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