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

The crypto market is in turmoil. A massive sell-off has sent shockwaves through the industry, with meme coins bearing the brunt of the decline, plunging 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.

Here’s all we know.

Buterin’s Sale Shakes Up the Market

Neiro had made a splash by transferring 4% of its total supply to Vitalik Buterin Vitalik Buterin Vitalik Buterin is a well-known tech geek, influencer, and computer programmer. To promote the blockchain, he started Bitcoin Magazine and provided blockchain information for cryptocurrency investors. In 2015, he co-founded Ethereum, a blockchain platform that contributed to decentralized finance.   Quick Facts   Full name Vitaly Dmitrievich Buterin Birth 31-01-1994, Kolomna, Russia Education University of Waterloo Wife/Partner To be updated / Not Married Famous for Ethereum, ETH, Blockchain advocate/promoter  Net Worth $1B (refer for real-time)   Buterin recognized the need for decentralized finance and used smart contracts to publish the Ethereum whitepaper.  His contributions paved the way for Ethereum's transition to Proof-of-Stake, which proved to be scalable and effective. Furthermore, he introduced Ether (ETH), the blockchain platform's native coin. A Timeline of Vitalik’s Career Co-founded Bitcoin Magazine (2011) – Established one of the first crypto publications, writing extensively on Bitcoin and blockchain. Authored Ethereum Whitepaper (2013) – Proposed a blockchain with smart contract functionality for decentralized applications (d Apps). Co-founded Ethereum (2015) – Launched Ethereum after a successful $18M ICO, revolutionizing the blockchain ecosystem. Developed Ethereum Virtual Machine (2015–2016) – Created the EVM, enabling developers to build and deploy smart contracts. Worked on Ethereum Scalability (2017–2021) – Contributed to Layer 2 solutions like Rollups, Plasma, and Sharding. Led Ethereum’s Transition to Proof-of-Stake (2018–2022) – Helped develop and implement Ethereum 2.0, merging the Beacon Chain in 2022. Blockchain Research & Cryptography (2016–Present) – Focused on zk-SNARKs, privacy tech, and decentralized governance models. Philanthropy & Crypto Advocacy (2017–Present) – Donated millions in crypto for pandemic relief, AI research, and financial inclusion. EntrepreneurCrypto and Blockchain Expert , hoping to leverage his influence in the crypto world. Buterin’s decision to sell off 17.1 billion Neiros for 44.4 ETH, however, caused a significant market reaction. This massive sell-off led to a sharp 60% decline in Neiro’s value, raising concerns among investors.

Neiro’s price fell from $0.022 to $0.013 after the sale, briefly rose to $0.015, and then dropped further to $0.011. The token, which had seen impressive growth and hit a peak of $0.19 on August 1 with a market cap close to $116 million, is now struggling with volatility.

A Charitable Request for the Fur Buddies

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.

Neiro had set aside a reserve of tokens to fund future listings on centralized exchanges and support charitable causes, including shelters for stray dogs and other organizations fighting animal abuse. Despite the recent setbacks, Neiro remains dedicated to its mission and philanthropic efforts.

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What do you think? Is this the end for Neiro, or will it make a comeback? Share your thoughts.