Vitalik Buterin, the co-founder of Ethereum, recently sold 50.54 billion ESTEE meme coins and received 116,306 USDC in return. Surprisingly, the coin’s price skyrocketed following the sell-off, rising more than 1,100% from its daily low.
His publicly known Ethereum address processed the transaction. ESTEE, a Shiba Inu-inspired dog-themed meme coin (SHIB), has quickly attracted strong interest from investors.
Buterin also sold other meme coins in his latest transactions. It traded 340 LDOG tokens for 5.2 ETH and over 10 trillion DINU tokens for over 4,000 USDC. These actions have attracted the attention of the crypto community.
Many projects give Buterin random tokens, hoping to use his fame for publicity. He regularly sells these gifted tokens and donates part of the proceeds, making these sales a common part of his routine. And somehow, traders find these sales bullish.
BOOM! Vitalik sold his $ESTEE! It is the first major token in the same wallet as $SHIB he was inside.
When Vitalik sold his $NEIRO started its pump at 1.3B ath. For $MOODENG active $ETH send to 185M!
Get ready for an explosive move in the coming days.
It takes some time… pic.twitter.com/K4JJFjN6YH
— JoeJoee (@RealJoeJoee) January 6, 2025
How has Vitalik Buterin’s ESTEE sale affected the price action?
Although Buterin’s sale initially caused a brief dip, the market quickly recovered. The ESTEE value went from a low of $0.0000020 to around $0.000022, more than 10 times in just a few minutes.
(ESTEEUSDT)
Vitalik downloads ESTEE: will he follow Neiro’s path?
One of the main reasons for the price increase is the attention that Vitalik Buterin’s shares always receive. As an important figure in the world of cryptocurrencies, people carefully watch what he buys or sells. When news broke that Buterin had sold ESTEE, many investors started buying the token, which unexpectedly pushed its price up instead of down.
A similar situation happened with Neiro, another meme coin donated to Buterin. Although it sold all 17.145 billion Neiro tokens it received, worth around $130,000 at the time, the coin’s price increased shortly after. After the sale, the Neiro team even asked Buterin to donate some of the money to a shelter for stray dogs, which brought more attention to the coin.
One of the reasons for the recovery in ESTEE prices could be the high level of attention attracted by the Buterin transaction. When someone as influential as the Ethereum co-founder takes action, traders around the world take notice, even if his actions are routine. Oddly enough, negative news can lead to more publicity, causing an unexpected increase in prices.
However, the current market phase is dominated by the AI narrative. For Estee to reach the same level of success as Neiro, it may need more than just Vitalik’s token sale to build momentum.
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