Neiro Memecoin Plunges By 60% After Ethereum Co-Founder Vitalik Buterin Sells 17.1B Neiros
- PHPzOriginal
- 2024-08-05 21:10:24796browse
Neiro's team asked Buterin to donate part of the proceeds to stray dog shelters. Neiro reserved tokens for future exchanges and charitable donations against animal abuse.
A new memecoin, named Neiro, has entered the crypto market with an interesting strategy: gifting 4% of its total supply to Ethereum co-founder Vitalik Buterin. The move aims to leverage Buterin's influence and following within the crypto community to promote the token.
However, Buterin's recent actions have had a significant impact on Neiro's price. According to Etherscan data, Buterin purchased 17.1 billion Neiros, which were later converted into 44.4 ETH. This large sell-off by Buterin has resulted in a 60% drop in Neiro's value, creating ripples of concern among investors.
As a result of Buterin's sell-off, Neiro's price has dropped from $0.022 to $0.013, showing a substantial decrease from its initial launch price. The token sempat rose slightly to $0.015 before dropping again to trade at $0.011. Neiro had experienced exponential growth after its launch, reaching an all-time high of $0.19 on August 1, with a market cap close to $116 million.
After the sell-off, the Neiro team took to Twitter to express their gratitude to Buterin for his role in creating the platform that hosts Neiro. They also made a subtle request, asking Buterin to consider donating some of the proceeds from his Neiro sales to a shelter for stray dogs.
"Hey Vitalik Buterin, we see that you sold your Neiro bag. Our humble ask is that you donate part of the proceeds to a stray dog shelter. And thank you for building our playground," the Neiro team wrote in their tweet.
The Neiro project has allocated a strategic reserve of tokens to fund potential CEX listings and support charitable donations to shelters for stray dogs and other organizations working to combat animal abuse.
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