Vitalik Buterin Urges Meme Coin Teams to Engage in Charitable Fun-Dings

The meme coin Neiro (NEIRO) has witnessed a remarkable 50% surge in its market value. This increase followed a series of charitable acts by Ethereum (ETH) co-founder Vitalik Buterin.

After donating a substantial amount of ETH to an animal welfare fund, Ethereum (ETH) co-founder Vitalik Buterin seems to have set off a chain of events that led to a 50% increase in the market value of Neiro (NEIRO).

The meme coin experienced a remarkable surge in price following Buterin's charitable act, which was prompted by a request from Neiro's team to allocate a portion of his earnings from the coin to a stray dog shelter.

Taking to social media platform X (formerly Twitter), Neiro's team expressed their gratitude to Buterin for his thoughtful discussion on the future of meme coins and public goods funding, ultimately leading to his generous donation.

“We appreciate the thoughtful discussion on meme coins and public goods funding. Your feedback has been noted and will be taken into consideration as we continue to build.

In the spirit of continuing the discussion, we would like to request that you consider allocating a portion of your earnings from Neiro to a stray dog shelter. We believe that this gesture would not only align with your values but also serve as a meaningful contribution to the community.

Thank you again for your attention and support,” the statement read.

Several weeks after the initial request, Buterin went on to fulfill the community's wishes by making a substantial donation of 200 ETH, valued at over $532,000 at the time, to the specified animal welfare fund.

This act was met with positive reactions from both the Neiro community and broader crypto enthusiasts, who lauded Buterin's charitable spirit and recognized the potential for meme coins to support innovative funding mechanisms for public goods.

Following Buterin's charitable gesture, Neiro's value saw an impressive price adjustment. It climbed nearly 50% in just 24 hours, trading at $0.00005692 at the time of writing.

This price adjustment, coupled with a circulating supply of 419.38 billion coins according to CoinGecko, brought Neiro's market capitalization to around $24 million.

The meme coin, which was launched in July, gained attention following the death of Kabosu, the famous Shiba Inu and face of Dogecoin (DOGE).

The announcement of a new pet named Neiro, succeeding Kabosu, garnered substantial sympathy from the crypto community, leading to the creation of the token.

In a statement on X, the Neiro team highlighted the potential for meme coins to evolve beyond their current entertainment-oriented nature and towards a more philanthropic role.

They suggested approaches like allocating a portion of token supply or transaction fees to charity, which could shift the impact and perception of meme-oriented cryptocurrencies.

“The ‘charity coin’ concept you mentioned is indeed an underexplored area. Allocating a portion of token supply or fee mechanisms to support charitable causes can help memecoins achieve positive value to some extent.

However, as you pointed out, memecoins in their current form may have limitations. Therefore, we also believe that exploring more complex and engaging gamified forms will be an important path forward,” the statement added.

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