Vitalik Buterin recently sold a substantial amount of Neiro, a new meme coin on the Ethereum blockchain. Surprisingly, the token’s value surged shortly after, reminiscent of Shiba Inu’s early days, which now boasts an $8 billion market cap.
While traditional investors were offloading Apple and Nvidia shares, Buterin opted to sell a newly airdropped meme token called Neiro.
Buterin Sells Neiro, Token’s Value Increases
On Tuesday, Neiro Ethereum reached a market cap of $223 million and gained recognition, including a page on Forbes Digital Assets. Forbes describes Neiro as “the sister of the OG $DOGE, Kabosu, here to make history on the Ethereum chain! Neiro is a decentralized meme token on the ETH blockchain.”
To promote Neiro, developers airdropped 17.145 billion tokens to Buterin, representing 4% of the total supply and valued at about $130,000 at the time. This strategy mirrors Shiba Inu’s approach in 2021.
In a post on X (formerly Twitter), the Neiro team shared, “We are the people’s $Neiro, on the people’s chain, Ethereum. And a little fun fact: Vitalik Buterin is currently our largest holder. (4% of supply, ~$130k value as of the time of this post).”
Despite Buterin selling his tokens, Neiro’s value did not decline; instead, it rose by 10% within 24 hours.
Neiro Team Urges Buterin to Support a Dog Shelter
Responding quickly to Buterin’s sale, the Neiro team posted an open letter on X, asking him to donate part of the proceeds to a stray dog shelter. They expressed gratitude for his contributions to the Ethereum network and made a humble request for the donation.
The team’s swift reaction and Buterin’s sale have further increased Neiro’s visibility and market activity.
