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

Published by
Mustafa Mulla

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 , 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.

Also Check Out: Worst Crypto Crash Since 2022 Has Begun: Understanding What Is Happening

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

Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

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