On March 7, the creator of the Ethereum cryptocurrency ( ETH ) Vitalik Butterin brought down the course of the cryptocurrency-meme SHIKOKU INU ( SHIK ).
On Tuesday, Butherin got rid of the shitkoins for a total of almost $ 700,000. He sold:
500 trillion tokens SHIKOKU INU for 380.3 ETH ( $ 589 845 at the current exchange rate );
10 billion Cult DAO coins ( CULT ) for 58.1 ETH ( $ 90 113 );
50 billion Mops ( MOPS ) for 1.25 ETH ( $ 1939 ).
The transactions made by Butherin had an incredibly powerful impact on the SHIKOKU INU cryptocurrency rate. The SHIK price collapsed by almost 96%, and the CoinMarketCap portal stopped monitoring the cost of tokens. The collapse of the digital asset was due to the fact that Vitalik sold 50% of the issued coins. Two major traders noticed a sharp decline in SHIK prices and managed to earn about $ 290,000. They bought tokens when their course reached the bottom, and sold them during the bounce.
Fall of course SHIKOKU INU
The act of the creator of Ethereum caused discontent from many members of the cryptocompany. One of the users of Twitter banned in Russia suggested that Vitalik got rid of the coins on the advice of his accountant so as not to indicate these digital assets in the tax return.
This is not the first time that Butterin has been drowning cryptocurrency-memes. In 2021, he sold a large number of Shiba Inu tokens ( SHIB ) and Dogelon Mars ( ELON ), as a result of which their rate fell by 40% and 90%, respectively.
