Whoosh! Viral Baby Hippo Moodeng Surges 380% After Vitalik Buterin Sells His Stack And Donates $642K To Charity

The Ethereum ETH/USD version of viral meme coin Moodeng MOODENG/USD has picked up steam after Vitalik Buterin sold part of his holding to donate it to charity.

What Happened: On-chain analytics provider Spot On Chain highlighted the Ethereum co-founder selling 10 billion MOODENG, worth $822,000, for 308.68 ETH. Buterin then donated 260.16 ETH, approximately $642,000, to the charity Kanro, dedicated to anti-airborne-disease technology.

Despite this sale, Buterin still retains a substantial amount of MOODENG. He currently holds 40 billion MOODENG, worth around $7.56 million, which is around 9.51% of the total supply.

Buterin also sold $341,000 worth of meme-coins MOODENG, DEGEN, NEIRO, KABOSU and USDT/USD for 140.67 ETH. Of the total, he sent 100ETH to the “Free Alexey & Roman” campaign, supporting the legal defense of TornadoCash developers Alexey Pertsev and Roman Storm.

Also Read: ‘Meme Coin Supercycle’ Means 13 Out Of Top 20 Outperforming Tokens Are Memes: Will Shiba, Dogecoin Be First To Reach $100B?

Why It Matters: Vitalik Buterin expressed his appreciation for meme coins that donate a portion of their supply to charity, encouraging more direct engagement from the community. The Ethereum co-founder specifically mentioned EBULL, a meme coin that recently made significant donations to several groups.

He further suggested that meme coin communities could establish Decentralized Autonomous Organizations (DAOs) to involve their members more directly in decision-making processes related to charitable donations.

Buterin’s call for meme coins to be “maximally positive sum for the world” reflects his long-standing belief in the transformative potential of blockchain technology for societal good.

What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.  

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