Vitalik Buterin Dumps 17.1 Billion NEIRO Meme Coins, Causing Price to Crash by 60%
CryptoNewsTerminal Staff04 Aug, 2024
Vitalik Buterin Dumps 17.1 Billion NEIRO Meme Coins, Causing Price to Crash by 60%
Vitalik Buterin, the co-founder of Ethereum, has sold a significant amount of NEIRO, an Ethereum-based meme coin. According to AmberCN on Twitter, Buterin sold 17.1 billion NEIRO, which is around 4% of the total supply, for 44.4 ETH. This has caused the price of NEIRO to crash by 60%. NEIRO had earlier transferred these tokens to Buterin, attempting to promote him as the largest whale of NEIRO. This news comes after a series of other high-profile meme coin dumps, including the sale of SHIB by a large holder and the recent crash of SQUID, a token associated with the popular Netflix show "Squid Game." These events have raised concerns about the volatility and speculative nature of meme coins. It also highlights the potential risks associated with investing in these assets.
