Vitalik Buterin dumped Shiba Inu fake while cleaning up memecoin

Ethereum co-founder Vitalik Buterin recently sold a series of lesser-known memecoins and fake tokens. According to data from OnChain Lens, Buterin sold a series of meme tokens, converting them into a total of 71.69 ETH, equivalent to approximately $136,684.

He sold 146.18 billion FML at a price of 2.51 ETH, 7.17 billion VB at a price of 1.57 ETH, and 366.47 million AWESOME at a price of 1.44 ETH. But the most interesting transaction is selling 180.88 billion SHIB at a price of only 0.987 ETH.

Source: OnChain Lens and NansenIf you are wondering why Vitalik sold 180.88 trillion SHIB tokens, estimated to be worth $2.2 million if they were real Shiba Inu (SHIB), with a price of less than 1 ETH, then the explanation is very simple. These tokens are not real, they are copies of the real Shiba Inu. SHIB is a popular cryptocurrency inspired by a meme that has attracted a large following since its creation.

Vitalik Buterin and Shiba Inu

The irony lies in the complex history between Buterin and the Shiba Inu token. In 2021, the creators of Shiba Inu sent half of the total token supply to Buterin's wallet as a marketing stunt to increase credibility and appeal.

Instead of holding on, Buterin donated a portion to the India COVID-Crypto relief fund and burned the remaining portion, significantly reducing the circulating supply. Now, it seems Buterin is trying to distance himself from any projects that could be seen as imitation or trying to capitalize on the popularity of SHIB.

This seems to be a common issue in the crypto space, where assets mimic the successful use of reputable projects to attract attention. Buterin's actions may be an attempt to separate from these speculative assets of little real value.

Disclaimer: The article is for informational purposes only, not investment advice. Investors should research carefully before making decisions. We are not responsible for your investment decisions

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Dinh Dinh

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