Vitalik Buterin sells $1.8 million worth of MOODENG for charity

Vitalik Buterin, the co-founder of Ethereum (CRYPTO:ETH), has sold 10 billion units of the meme coin MOODENG (CRYPTO:MOODENG), raising approximately $1.8 million. 

The proceeds were donated to support anti-airborne disease technology, continuing his trend of using meme coin sales for charitable causes. 

This sale led to a significant 300% spike in MOODENG’s value, reflecting the growing influence of charitable donations in the meme coin space. 

On-chain data revealed that Buterin sold the MOODENG coins in six separate batches. 

These coins were reportedly given to him by the creator of MOODENG, and Buterin explained in a social media post that he plans to continue selling any meme coins sent to him, with the proceeds going to various charitable causes. 

“I appreciate all the meme coins that donate portions of their supply directly to charity. The best thing for meme coins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens,” Buterin commented. 

This statement reflects his belief in turning meme coins into vehicles for philanthropy. 

This sale follows a pattern established earlier in 2024, where Buterin made similar donations through meme coin transactions. 

In August, he sold off his stock of Neiro, donating proceeds to an animal shelter at the request of the coin’s creators. 

Neiro’s value also surged as a result, mirroring MOODENG’s performance. 

The recent rise in MOODENG’s price after Buterin’s sale highlights how his influence can impact market trends and foster charitable efforts. 

At the time of writing, the Moo Deng price was $0.1294.