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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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Sale of 2 trillion meme coins by Ethereum's founder Buterin
Ethereum co-founder Vitalik Buterin is back in the spotlight with a series of notable transactions he made recently. Buterin converted two trillion DOG tokens into Ethereum by selling them via Uniswap V4.
At the moment the sale transaction took place, a sudden increase in Ethereum's hourly trading volume was observed. The market closely follows developments regarding the sale of meme tokens by a figure like Buterin, and such transactions often bring about high volatility and panic selling. Although the amount of 4.4 ETH obtained in exchange for the sold DOG tokens is not at a whale scale, its symbolic impact was significant.
Especially meme coins can rapidly lose trust alongside sales by well-known figures. With liquidity withdrawals and the collapse of price floors, many low-volume projects had collapsed in similar situations.
However, this situation does not apply to every meme coin. For example, Shiba Inu managed to survive despite Buterin's much larger sale before. Therefore, although the recent sale may be a warning sign for DOG, it may not necessarily mean a definitive collapse. How the community manages this test of confidence will be crucial.
On the other hand, considering Buterin's past habit of quickly selling or distributing similar assets, it is also possible that the ETH he obtained from this transaction will be re-released into the market in the short term.
Published: June 27, 2025 15:55