New Ethereum meme coin Moodeng has experienced a remarkable 480% spike in the past 24 hours following Vitalik Buterin’s endorsement. The MOODENG token, inspired by the Thai baby hippo Moo Deng, was created in September and has already boomed over 4000% since its launch. Buterin, the co-founder of Ethereum, recently mentioned MOO DENG in a social media post, and investors thought it could be a huge price mover.
Vitalik Buterin recently sold 10 billion MOODENG for 308.69 Ethereum (ETH). This is worth $762,000 at today’s prices. He then transferred 260 ETH ($642,000) to the charity Kanro on Monday. Furthermore, his publicly known Ethereum address “vitalik.eth” still holds 40 billion MOODENG tokens worth over $8 million.
Thank you to all meme coins who donate a portion of their supply directly to charity.
(Example: Last month I saw ebull send a bunch of messages to various groups)
Everything sent to me will be donated to charity (thanks moodeng! Today’s 10B will go to airborne disease control…
— vitalik.eth (@VitalikButerin) October 7, 2024
In his post, Buterin thanked the memecoin development team and said he would sell his shares for charity. “We are grateful to all memecoins who donate a portion of their supply directly to charity,” Buterin told X. Technician), I would love for you to donate directly to charity, but you can also create a DAO to involve the community directly in the decisions and processes. ”
Sending MOODENG coins to the moon with the support of Vitalik Buterin
Ethereum’s co-founder often participates in philanthropy, using cryptocurrencies as fuel for donations. Muden’s team sent some of its supplies to Buterin when it was first issued in September. On October 5, Buterin sold $50,000 worth of MOODENG coins along with other tokens in exchange for Ether, which he later sold as part of a donation to another charity.
Also read: Dogecoin: New trend, DOGE aims to soar 200%
MOODENG traders took Buterin’s mention and donation as a bullish signal and quickly executed multiple trades around the meme coin. A surge in trading activity over the past 24 hours has pushed the price up almost 500%. According to data from Dextools, this surge has pushed MOODENG coin’s 7-day gain over 2,700%.
Meme coins often experience meteoric rises in price after their release, with Pepe and Shiba Inu examples being cited in the past. MOODENG has different coin versions on both Ethereum and Solana networks. “I’ve said before that I think the best thing for meme coins is to have the most positive sum for the world, so it’s great to see that moment actually happen,” Buterin said. he added while discussing coins like .
