Vitalik Buterin Sells MOODENG Tokens, Prices Drop Up to 72%!
2024-10-14
Bittime - Meme coin MOODENG which recently went viral, the price has dropped 72% from the highest price.
This decline is thought to be the impact of the ongoing selling action carried out by Vitalik Ethereum, the founder Ethereum. Read this article to find out more!
MOODENG Token Goes Viral After Vitalik's Tweet
On October 7, 2024, Vitalik Buterin wrote a tweet to thank the meme coin donors.
Vitalik specifically mentioned MOODENG, a meme coin on the Ethereum network, and put the spotlight on this token. Not long after that, the price of the MOODENG token skyrocketed 101%.
This sharp price movement attracted the attention of many investors. The MOODENG coin meme went viral and more and more investors bought this token because of Vitalik Buterin's influence.
Read Also: Vitalik Buterin Donates ETH from MOODENG Token Sale to Charity
Vitalik Sells MOODENG Tokens
However, this euphoria did not last long. A day after that, Vitalik actually carried out a massive sale of MOODENG tokens for eight consecutive days.
This selling action immediately affected the price of the MOODENG token, the price of which then began to fall freely.
From its highest price, that is $0.0002714, price of token MOODENG continues to fall until it reaches level $0.00007614.
MOODENG Token Experiences Backlash
According to AI Aunt, an on-chain analyst active on social media, meme coin MOODENG seems to be experiencing a backlash phenomenon after Vitalik's tweet. However, the consecutive selling actions actually caused the price of the MOODENG token to plummet.
This MOODENG case is a clear example of how market sentiment can change in a short time. When big figures like Vitalik are involved in a particular project, either with endorsements or sales, the impact on the price of meme coins can be very significant.
Read Also: Meme Coin MOODENG Becomes Top Rank in Last 7 Days!
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