Ethereum co-founder Vitalik Buterin sold a significant part of his meme coins directing the sum to different contribution funds.
When Shiba Inu was launched in August 2020, the team sent 50% of the overall supply to Buterin. Apart from SHIBs, Buterin sold Dogelon (ELON) and Akita Inu (AKITA).
Around $441 M generated by the sale of AKITAs was sent to a cross-platform for bounties on Ethereum Gitcoin. The profit from ELON went to the non-profit organization Methuselah Foundation.
As it was supposed that Buterin will keep the coins given to him for free, after the news the prices of meme tokens went down. Over the previous 24 hours, SHIB's price saw about 42% decline, Dogelon Mars over 67%, and Akita Inu over 51%.
The first Dog-themed cryptocurrency DOGE fell too. Currently, it trades at around $0.4 and ranks sixth by market cap.