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The Ethereum creator has turned a memecoin marketing stunt on its head.

Vitalik Buterin has told dog-themed memecoin creators to bark up another tree.

In a move that captivated the attention of Crypto Twitter on Wednesday, the Ethereum founder re-gifted tokens sent to his public wallet by the creators of Shiba Inu coin (SHIB), Dogelon (ELON) and Akita Inu (AKITA).

Notably, Buterin donated 50 trillion SHIB tokens (worth a nominal $1.2 billion at press time) to the India Covid Relief Fund kicked off by Polygon founder Sandeep Nailwal late last month.
Memecoin creators have been sending large amounts of their tokens to the Ethereum figurehead in recent days. CryptoSlate reported Monday Vitalik was sent trillions of SHIB tokens worth over $8 billion at one point.

The memecoin mania has caused Ethereum gas fees to surge to staggering highs, perhaps animating the network’s founder to strike back.

SHIB is down roughly 38% since Buterin started unloading but still boasts a market cap of $9 billion, according to CoinMarketCap.

The coin has had more than $7 billion in volume in the last 24 hours.
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