Memecoin Neiro Plummets 60% as Vitalik Sells for 44.4 ETH!

Key Points:

• Vitalik Buterin offloaded 17.1 billion memecoin Neiros (4% of the total supply) for 44.4 ETH.
• The sell-off caused Neiro’s price to crash by 60%, sparking panic among investors.

Vitalik Buterin has dumped a large amount of the memecoin Neiro, causing the value to drop significantly.

A relatively unknown memecoin, Neiro, transferred 17.1 billion Neiros—4% of the total supply—to Vitalik’s address. It was a strategic move to hype up Vitalik as the highest holder and to use his high profile to increase the coin’s credibility, hence the attractiveness, in the cryptocurrency community.

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Vitalik Buterin Offloads 17.1 Billion Neiros

It backfired when Vitalik sold 17.1 billion memecoin Neiro in exchange for 44.4 ETH. In a flash, sell-offs occurred, and Neiro’s price dropped drastically by 60%, panicking all investors and holders of the coin. The price collapse further highlighted the risks associated with meme coins, which are highly volatile and susceptible to market manipulations.

There may be a few meme coins bearing the name Neiro across the cryptocurrency market, but one pegged to this event is the Neiro that Vitalik sold. This has further provoked a broader argument on the morality of such significant transactions and possible consequences that could have an impact, especially on dealings involving influential people like Vitalik Buterin.