Vitalik Buterin, the co-founder of Ethereum, recently sold 50.54 billion ESTEE meme coins and received 116,306 USDC in return. Surprisingly, the coin’s price soared after the sell-off, climbing more than 1,100% from its daily low.
His publicly known Ethereum address processed the transaction. ESTEE, a dog-themed meme coin inspired by Shiba Inu (SHIB), quickly attracted strong interest from investors.
Buterin also sold other meme coins in his latest transactions. He exchanged 340 LDOG tokens for 5.2 ETH and over 10 trillion DINU tokens for over 4,000 USDC. These actions drew attention from the crypto community.
Many projects gift Buterin random tokens, hoping to use his fame for publicity. He regularly sells these gifted tokens and donates part of the proceeds, making these sales a common part of his routine. And somehow, traders find these sell-offs bullish.
BOOM! Vitalik sold his $ESTEE! Its the first big token in the same wallet where $SHIB was in.
When Vitalik sold his $NEIRO it started its pump to 1.3B at ath. For $MOODENG on $ETH it send to 185M!
Get ready for an explosive move in the upcoming days.
It takes some time… pic.twitter.com/K4JJFjN6YH
— JoeJoee (@RealJoeJoee) January 6, 2025
How Has Vitalik Buterin’s ESTEE Sale Dented Price Action?
Although Buterin’s sale initially caused a brief dip, the market bounced back quickly. The ESTEE value jumped from a low of $0.0000020 to around $0.000022, more than 10x in minutes.
Vitalik Offloads ESTEE: Will It Follow Neiro’s Path?
One big reason for the price increase is the attention that Vitalik Buterin’s actions always get. As an important figure in the crypto world, people closely watch what he buys or sells. When news came out that Buterin sold ESTEE, many investors started buying the token, which unexpectedly pushed its price up instead of down.
A similar situation happened with Neiro, another meme coin given to Buterin. Even though he sold all 17.145 billion Neiro tokens he received—worth about $130,000 at the time—the coin’s price went up shortly after. After the sale, the Neiro team even asked Buterin to donate part of the money to a stray dog shelter, which brought more focus to the coin.
One reason for ESTEE’s price recovery might be the high level of attention triggered by Buterin’s transaction. When someone as influential as the Ethereum co-founder acts, traders around the globe take note, even if his actions are routine. Strangely, negative news can lead to more publicity, causing an unexpected price rise.
However, the current market phase is dominated by the AI narrative. For Estee to achieve the same level of success as Neiro, it may require more than just Vitalik’s token sale to drive momentum.
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