Vitalik Buterin, the co-founder of Ethereum, recently sold 50.54 billion ESTEE meme coins and received 116,306 USDC in return. Surprisingly, the coin’s price soared after the sale, climbing over 1,100% from its daily low.
Its publicly known Ethereum address processed the transaction. ESTEE, a dog-themed meme coin inspired by Shiba Inu (SHIB), quickly attracted strong interest from investors.
Buterin also sold other meme coins in his latest transactions. He traded 340 LDOG tokens for 5.2 ETH and over 10 trillion DINU tokens for over 4,000 USDC. These actions have attracted the attention of the crypto community.
Many projects offer random tokens to Buterin, hoping to use his fame for advertising purposes. He regularly sells these donated tokens and donates a portion of the profits, making these sales a regular part of his routine. And one way or another, traders find these sales bullish.
BOOM! Vitalik sold his $ESTEE! This is the first big token in the same wallet where $SHIB was in it.
When Vitalik sold his $NEIRO he started his pump at 1.3B at ath. For $MOODENG on $ETH it sends to 185M!
Prepare for an explosive move in the coming days.
It takes time… pic.twitter.com/K4JJFjN6YH
– JoeJoee (@RealJoeJoee) January 6, 2025
How did Vitalik Buterin’s ESTEE sale start the price movement?
Although Buterin’s selling initially caused a brief decline, the market quickly rebounded. ESTEE’s value increased from a low of $0.0000020 to around $0.000022, more than 10 times in just a few minutes.
(ESTEEUSDT)
Vitalik sells ESTEE: will he follow Neiro’s path?
One of the main reasons for the price increase is the attention that Vitalik Buterin’s actions still receive. As a prominent figure in the crypto world, people are closely watching what he buys or sells. When news broke that Buterin had sold ESTEE, many investors started buying the token, causing its price to unexpectedly rise instead of falling.
A similar situation occurred with Neiro, another meme piece given to Buterin. Even though he sold the 17.145 billion Neiro tokens he received, worth around $130,000 at the time, the coin’s price rose shortly after. After the sale, Neiro’s team even asked Buterin to donate part of the money to a shelter for stray dogs, which brought more focus to the piece.
One of the reasons for ESTEE’s price recovery could be the high level of attention generated by Buterin’s transaction. When someone as influential as Ethereum’s co-founder takes action, traders around the world take notice, even if his actions are routine. Strangely, negative news can lead to more publicity, causing prices to rise unexpectedly.
However, the current market phase is dominated by AI discourse. For Estee to reach the same level of success as Neiro, it may take more than just the token sale of Vitalik to build momentum.
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