As an analyst with a decade of experience in the crypto space, I find Vitalik Buterin’s latest philanthropic move both remarkable and strategic. His decision to donate a significant portion of his wealth to Thailand’s Khao Kheow Open Zoo is not only a testament to his compassion but also a savvy marketing strategy that could potentially boost the popularity of the MOODENG memecoin.
Vitalik Buterin, one of Ethereum‘s co-founders, has chosen to contribute 10 million Thai baht (approximately $292,230) to Thailand’s Khao Kheow Open Zoo. This donation will help maintain the zoo’s daily activities, sponsor wildlife, and create a new exhibit featuring Moo Deng, a pygmy hippopotamus who sparked the creation of the well-known MOODENG memecoin. Furthermore, Buterin has officially taken on the role of caring for Moo Deng for the next two years.
The zoo’s administrator has shared news about a donation coming in two parts. The initial $5 million baht portion is due today. Buterin mentioned that the details for the second installment will be revealed at a later date, but it won’t be beyond December 26, 2024, exactly one year from now.
In a communication I penned, I, Vitalik Buterin, extend my heartfelt appreciation to the warm and inviting Thai community for their exceptional hospitality during my latest visit. I am deeply grateful to Thailand for its unwavering backing of Ethereum’s thriving community gatherings, particularly the Devcon SEA conference held in Bangkok last November.
MOODENG Token Surges
The news about Buterin’s involvement sparked a significant increase in MOODENG’s meme coin value. Its price nearly doubled within just two hours after the announcement, and while it has since settled at roughly 0.00021 dollars, it is still up by more than 66% on the daily chart. Over the past day, there has been a dramatic 350% increase in MOODENG’s trading volume, reaching approximately $24.7 million.
Introduced on September 11 through Pump.fun, MOODENG is a digital token that honors the pygmy hippo, which became widely recognized online for its endearing and bold character. It has since been listed on various exchanges, such as Binance Futures market. Since its initial release, MOODENG has seen tremendous expansion, skyrocketing by 4,444% to its current worth.
24 hours ago, I witnessed a remarkable surge in the market capitalization of my token, which now stands at a staggering $85.5 million, as per CoinMarketCap’s latest update. On November 20, it hit an all-time high of $0.00043 during the broader crypto market rally.
Vitalik Buterin, the creator of Ethereum, has previously made charitable donations. Back in October, he gifted 10 billion MOODENG tokens that were sent to him to Kanro, a biotech charity, for research into anti-airborne diseases. Despite selling some tokens, Vitalik still had 40 billion MOODENG tokens in his possession at the time. Furthermore, Buterin stated that any meme coins deposited in his wallet would be used for charitable purposes. He also motivated developers to set up Decentralized Autonomous Organizations (DAOs) so that communities could have more power over decisions related to token donations.
Over the last day, the total value of memecoins on the market has dropped by 4%, now standing at approximately $97 billion. This decrease mirrors a broader trend in the crypto market, as Bitcoin has dipped from $108,268 to around $92,000. At present, Bitcoin is being traded for roughly $96,133, marking a 2.5% decline over the past 24 hours.
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2024-12-26 13:31