Ethereum co-founder Vitalik Buterin recently sold off a series of meme coins, including fake Shiba Inu tokens, earning 71.69 ETH.
Buterin's Sale of Meme Coins
Vitalik Buterin, one of Ethereum's founders, carried out a sale of various meme coins and tokens lacking substantial value. According to OnChain Lens data, Buterin exchanged these tokens for 315,382 DAI and 71.69 ETH, which amounts to approximately $136,684.
Explanation of SHIB Transaction
One of the most intriguing transactions was the sale of 180.88 billion fake SHIB tokens for just 0.987 ETH. If these tokens were real Shiba Inu, their value would be around $2.2 million. However, the tokens sold were not authentic SHIB, but rather imitations of a popular cryptocurrency.
Buterin and the Story with Real SHIB
The story of Vitalik Buterin and the real SHIB begins in 2021, when Shiba Inu creators sent half of the total token supply to Buterin's wallet for marketing purposes. Instead of holding them, Buterin donated a portion to the India COVID-Crypto Relief Fund and burned the rest, significantly reducing their circulation.
Buterin's actions may be an attempt to distance himself from projects trying to capitalize on SHIB's popularity.
