Claim $500Ethereum Creator Vitalik Buterin Dumps Multiple Memecoins, Is A Crypto Crash Imminent?
Ethereum co-founder Vitalik Buterin is selling most shitcoins he held in his main wallet address. The coins Vitalik Buterin sold are getting rekt, similar to last time when shitcoins lost most value after he dumped massive amounts of shitcoins.
Lookonchain in a tweet on March 7 revealed that Vitalik Buterin is selling mostly free shitcoins he received to the wallet address 0xAb58…9B. At present, he has already sold 50 billion MOPS for 1.25 ETH, 10 billion CULT for 58 ETH, and 500 trillion SHIK for 380 ETH.
Furthermore, Vitalik Buterin has sold 3.4M BITE for 5.9 ETH. He has also transferred 214 ETH worth $337k to EthDev
Crypto Twitter Reaction Vitalik Buterin Dumping Shitcoins
Crypto Twitter is disappointed with Vitalik Buterin for selling shitcoins he owned as it is impacting these low-value projects and investors who own these. Others are angry over projects sending free tokens to Vitalik. SHIK price fell 95.8% after Vitalik dumped the token.
Vitalik Buterin is aware that selling free shitcoins can tank prices and drain liquidity massively. Some believe he is selling to cover the expense, as these will count as income on his tax sheet.
Meanwhile, others think it has something to do with testnet tokens, especially Goerli ETH. According to DEXTools data, nearly $0.5 million worth of gETH was traded in the past 24 hours, with 11.88 million total GETH in circulation and 2.05k token holders at press time.
As per Etherscan data, Vitalik currently holds another 666 SHIK and 10 billion CULT. However, he has sold all MOPS coins.
Ethereum Price Ahead of Ethereum Shanghai Upgrade
Ethereum (ETH) price jumped nearly 1% in the last 24 hours, with the price currently trading at $1,573. The 24-hour low and high are $1,559 and $1,579, respectively.
Furthermore, the trading volume continues to be flat in the last 24 hours, indicating traders await US Fed Chair Jerome Powell’s testimony before the congressional committees.
Also Read: Will Powell Hearing Wash Out Silvergate FUD From Crypto Market?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Breaking: Michael Saylor’s Strategy Buys 1,229 BTC as Bitcoin Heads Toward a 2025 Loss
- ETH Treasury: Trend Research Uses USDT Loans to Expand Holdings to $1.8B, Eyes 2026 Bull Run
- USDC Supply Shrinks: USDC Treasury Burns 51M Tokens on Solana
- XRP News: Ripple Expert Slams XRP Supply Shock Theory, Cites Bitcoin’s Influence
- Breaking: China’s PBOC Reveals Action Plan to Boost Digital Yuan Adoption From 2026
- Solana Price Prediction: How High Could SOL Go in January 2026?
- Top 3 Predictions for Bitcoin price, Ethereum price and XRP price for 2026 According to Analysts
- Is $1 Dogecoin Price Technically Possible in 2026?
- Bitcoin Price Year-End Prediction: Analysts Highlight Key Levels Before 2025 Close
- Pi Network Price Holds $0.20 After 8.7M PI Unlock, 19M KYC Milestone-What’s Next?
- XRP Price Prediction Ahead of US Strategic Crypto Reserve
