$MOODENG, once the biggest winner of Vitalik Buterin’s recent memecoin airdrop, is now grappling with a steep decline in value, following a wave of sales from the Ethereum co-founder.
On October 7, Buterin expressed gratitude in a tweet for receiving donations of various memecoins. Specifically, he mentioned Hippo, an Ethereum-based token, which saw its price skyrocket by 101% following his tweet, drawing attention to the coin. However, the hype was short-lived.
Over the past eight days, Buterin has sold off a significant portion of his $MOODENG holdings, causing the price to plummet. The token has dropped 72% from its peak of $0.0002714 to its current value of $0.00007614, leaving many investors concerned about its future stability.
近期 V 神空投最大受益者 $MOODENG 似乎正在遭受反噬🥹
10.07 V 神发推感谢捐赠 Memecoin，特别指出了以太坊网络的河马🦛 使其币价暴涨 101%，一时出尽风头
然而，随着 V 神过去 8 天的持续抛售，币价有些绷不住了：距离最高点已下跌 72%($0.0002714 > $0.00007614)📉😨 https://t.co/RqoT3Ws1tT pic.twitter.com/FqH0EkwVhD
— Ai 姨 (@ai_9684xtpa) October 14, 2024
Buterin Sold Off 31.7 Billion $MOODENG But Still Holds Notable Amount
The situation began on September 15 when the token’s deployer sent Buterin 61.7 billion $MOODENG, representing 14.68% of the total supply. Between October 5 and October 13, Buterin offloaded 31.7 billion tokens, amassing 731 ETH in the process. Despite these sales, he still holds 30 billion tokens, worth approximately $2.4 million.
数据详情👇
🔸 09.15 部署者向 Vitalik 空投 617 亿枚代币，占代币总量的 14.68%
🔹 10.05 – 10.13，Vitalik 累计抛售 317 亿枚代币，价值 731 ETH目前 V 神仍持有 300 亿枚 $MOODENG，约 240 万美金，有概率出于慈善捐赠全部卖出（毕竟不是没有先例hh）
河马当前市值 3140 万美金，流动性仅有 110… pic.twitter.com/873Nfuz7hA
— Ai 姨 (@ai_9684xtpa) October 14, 2024
Given Buterin’s track record of donating proceeds from memecoin sales to charity, there’s speculation that he may continue selling off the remaining $MOODENG tokens. If he does, it could further strain the already volatile market.
With Hippo’s current market cap sitting at $31.4 million and liquidity of just $1.1 million, continued sell-offs from Buterin would likely have a profound impact on the token’s price, raising concerns among investors about the long-term prospects of $MOODENG.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/moodeng-faces-decline-after-vitalik-buterins-airdrop-and-sell-off/