Ethereum Co-Founder Vitalik Buterin Sells Meme Coins Worth $2.24 Million, Including POPCAT, MOODENG And FWOG

Updated: 14 October 2024

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Ethereum co-founder Vitalik Buterin netted $2.24 million in ETH over the weekend after selling several meme coins that were gifted to him, including MOODENG, POPCAT and FWOG.

According to on-chain analytics platform Lookonchain, Buterin’s most recent meme coin sales took place on Oct. 13. During this trade, he sold $1.61 million worth of meme coins for 651.67 ETH.

Following that, the Ethereum founder’s total ETH accumulated through his meme coin trade over the weekend reached 908.77 ETH.

Vitalik Buterin Accumulated Over $900K By Selling MOODENG

The biggest trade performed by the Ethereum founder was the sale of 10 billion MOODENG. Buterin exchanged the meme coin for 395.96 ETH totaling $976K. MSTR was the next biggest sale after he swapped 200K MSTR for 93.23 ETH valued at $231K.

vitalik.eth(@VitalikButerin) sold some memecoins for 651.67 $ETH($1.61M) again 1 hour ago!

In the past 12 hours, #vitalik got a total of 908.77 $ETH($2.24M) by selling memecoins received for free.

Sold 10B $MOODENG for 395.96 $ETH($976K).
Sold 200K $MSTR for 93.23 $ETH($231K).… pic.twitter.com/fE1NTyu9k9

— Lookonchain (@lookonchain) October 13, 2024

Buterin also performed large swaps for POPCAT, EBULL, MILO and FWOG. Meanwhile, smaller holdings of TCATI, FWOG and VITALIK were also exchanged for ETH over the weekend. All of the tokens that were sold by Buterin registered price drops in the last 24 hours.

Meme Coin Market Cap Rises Despite Buterin’s Sell Off

Despite Buterin’s meme coin trades, the market cap for the lighthearted sector of the crypto space still saw its overall valuation increase in the past day of trading, with GOAT, BURN and GME leading gains as the meme coin sector’s market cap climbed more than 1%.

Political meme coins (PolitiFi) also saw their market cap jump by 2%.

Tokens in their presale stage continued their positive momentum. Layer-2 PEPE alternative Pepe Unchained (PEPU) has already raised over $19.37 million through its ongoing ICO, which is one of the most successful of the year.

Another toke with strong momentum is Crypto All-Stars (STARS), which has raised more than $2.2 million and offers an annual staking yield of 652%.