Vitalik Buterin Sells 17.1 Billion Neiros, Causing Meme Coin Price to Plummet By 60%

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After a global market plunge and massive sell-off, the entire crypto market has suffered, with memecoins dropping over 20% in the past 24 hours. The Neiro meme coin, a new player in the busy world of meme-based cryptocurrencies, recently made headlines due to a significant sell-off by Ethereum co-founder Vitalik Buterin, resulting in a 60% drop in Neiro’s value.

Neiro Memecoin Plunge By 60%

Neiro, which positioned Vitalik as its largest holder by transferring 4% of its total supply to his address, saw its value plummet following Buterin’s sale. The transfer was initially used to promote Neiro, leveraging Buterin’s influence in the crypto space. 

However, Buterin’s decision to convert the 17.1 billion Neiros into 44.4 ETH sent shockwaves through the crypto market. This offloading led to a significant 60% drop, raising concerns among investors. 

Meanwhile, Neiro memecoin price has dropped from $0.022 to $0.013, before rising slightly to $0.015. However, the token plummeted further and is now trading at $0.011. Neiro had shown exponential growth after its launch, hitting an all-time high of $0.19 on August 1, with a market cap close to $116 million.

Donation for Stray Dogs

After the sell-off, the Neiro team posted on X, asking Vitalik Buterin to donate some of the proceeds to a shelter for stray dogs. They stated, “Hey Vitalik Buterin, we see that you sold your Neiro bag. Our humble ask is that you donate part of the proceeds to a stray dog shelter. And thank you for building our playground.”

The Neiro project set aside a strategic reserve of tokens to fund potential CEX listings and support charitable donations to shelters for stray dogs and other organizations fighting animal abuse.