{"id":463737,"date":"2021-05-12T20:52:32","date_gmt":"2021-05-12T20:52:32","guid":{"rendered":"https:\/\/wncen.com\/?p=463737"},"modified":"2021-05-12T20:52:32","modified_gmt":"2021-05-12T20:52:32","slug":"vitalik-buterin-dumps-shib-price-tanks","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/","title":{"rendered":"Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour"},"content":{"rendered":"<p>Ethereum inventor, <a href=\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-ethereum-fee-reform\/\" target=\"_blank\">Vitalik Buterin,<\/a> might have single handily put a halt to the meme coins mania, at least, in the short term. Buterin was the recipient of 50% of the entire supply of Shiba Inu (SHIB), a token that saw a surge in interest after major exchange platforms added it to their products for the spot and derivatives market.<\/p>\n<p>In a donation spree, Vitalik Buterin sent his <a href=\"https:\/\/wncen.com\/news\/binance-lists-shiba-will-it-become-next-doge\/\" target=\"_blank\">SHIB tokens<\/a>, along with ELON, MIRI, and AKITA to several charity foundations. Ethereum core developer Hudson Jameson made a list of the charity project and the amounts they received.<\/p>\n<p>The Gitcoin Community, a Web3 based project with a large number of open-source developers, received all AKITA tokens into their Multi-Sig address. The Methuselah Foundation, a non-profit organization focused on extending the human lifespan, received all ELON tokens and 1,000 ETH.<\/p>\n<p>The MIRI organization, an artificial intelligence project with the objective of developing the mathematical theory of trustworthy reasoning for autonomous AI systems, according to their official website, received 1,050 <a href=\"https:\/\/wncen.com\/news\/ethereum\/463717\/\" target=\"_blank\">ETH<\/a>. The Charter Cities Institute, created to improve human life by \u201cbuilding the ecosystem for charter cities\u201d, received 500 ETH.<\/p>\n<h2>Vitalik Buterin Dumps, But For A Good Cause<\/h2>\n<p>In April, <a href=\"https:\/\/wncen.com\/news\/undeterred-by-central-bank-scare-tactics-crypto-trading-is-booming-in-india\/\" target=\"_blank\">Vitalik Buterin donated $500,000 in ETH to Polygon\u2019s co-founder, Sandeep Nailwal, an initiative to aid India&#8217;s Covid-19 relief campaign<\/a>, CryptoRelief. Now, he sent the organization 500 ETH and 10% of his SHIB supply which it\u2019s estimated at around $1 billion.<\/p>\n<p>Via their Twitter handle, the organization confirmed the donation of 50,693,552,078,053 SHIB and <a href=\"https:\/\/twitter.com\/CryptoRelief_\/status\/64962304\" target=\"_blank\" rel=\"nofollow\">stated<\/a> the following:<\/p>\n<blockquote><p>We plan to do a thoughtful liquidation to ensure we meet our COVID relief goals. We have decided to convert the donation slowly over a period of time.<\/p><\/blockquote>\n<p>Nailwal also confirmed via his Twitter account that they plan to be \u201cresponsible\u201d with the donations. Therefore, they plan to use the funds without \u201churting\u201d the SHIB community. He reassured SHIB holders that they have no reasons to be worried.<\/p>\n<p>In response, SHIB community members claimed that Buterin\u2019s donation could be amongst the largest in history and could attract new users into the Shiba Inu ecosystem. User &#8220;SHIB Informer&#8221; <a href=\"https:\/\/twitter.com\/shibinformer\/status\/27142917\" target=\"_blank\" rel=\"nofollow\">said<\/a> the following:<\/p>\n<blockquote><p>We are not worried at all. The #SHIBArmy is strong. Today Vitalik Buterin did a lot of moves, and a portion of this involved this donation (can this be the biggest in history? Anyone knows?). The best for $SHIB is yet to come.<\/p><\/blockquote>\n<p>Buterin\u2019s donations were generally praised by the crypto space. Many agreed that the funds will be better used by the aforementioned organizations and will contribute to the de-congestion of Ethereum\u2019s network.<\/p>\n<p>The tokens donated by Buterin saw massive drops in their price. <a href=\"https:\/\/wncen.com\/news\/elon-musk-brushes-off-snl-fail-plans-to-literally-send-dogecoin-to-the-moon\/\" target=\"_blank\">ELON<\/a> had a 95% correction. SHIB losses were minor in comparison, and since then the price has been recovering. At the time of writing, SHIB trades at $0,000021 with a 37.4% loss in the daily chart and a 1,258% gain in the 7-day chart.<\/p>\n<figure id=\"attachment_463744\" aria-describedby=\"caption-attachment-463744\" style=\"width: 860px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-463744 size-large\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Vitalik-Buterin-Ethereum-ETHUSDT.png?resize=860%2C424\" alt=\"Vitalik Buterin Ethereum ETHUSDT\" width=\"860\" height=\"424\"><figcaption id=\"caption-attachment-463744\" class=\"wp-caption-text\">SHIB with massive losses after Buterin&#8217;s donation spree. Source:<a href=\"https:\/\/www.tradingview.com\/symbols\/SHIBUSDT\/\" target=\"_blank\" rel=\"nofollow\"> SHIBUSDT Tradingview<\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum inventor, Vitalik Buterin, might have single handily put a halt to the meme coins mania, at least, in the short term. Buterin was the recipient of 50% of the entire supply of Shiba Inu (SHIB), a token that saw a surge in interest after major exchange platforms added it to their products for the spot and derivatives market. In a donation spree, Vitalik Buterin sent his SHIB tokens, along with ELON, MIRI, and AKITA to several charity foundations. Ethereum core developer Hudson Jameson made a list of the charity project and the amounts they received. The Gitcoin Community, a Web3 based project with a large number of open-source developers, received all AKITA tokens into their Multi-Sig address. The Methuselah Foundation, a non-profit organization focused on extending the human lifespan, received all ELON tokens and 1,000 ETH. The MIRI organization, an artificial intelligence project with the objective of developing the mathematical theory of trustworthy reasoning for autonomous AI systems, according to their official website, received 1,050 ETH. The Charter Cities Institute, created to improve human life by \u201cbuilding the ecosystem for charter cities\u201d, received 500 ETH. Vitalik Buterin Dumps, But For A Good Cause In April, Vitalik Buterin donated $500,000 in ETH to Polygon\u2019s co-founder, Sandeep Nailwal, an initiative to aid India&#8217;s Covid-19 relief campaign, CryptoRelief. Now, he sent the organization 500 ETH and 10% of his SHIB supply which it\u2019s estimated at around $1 billion. Via their Twitter handle, the organization confirmed the donation of 50,693,552,078,053 SHIB and stated the following: We plan to do a thoughtful liquidation to ensure we meet our COVID relief goals. We have decided to convert the donation slowly over a period of time. Nailwal also confirmed via his Twitter account that they plan to be \u201cresponsible\u201d with the donations. Therefore, they plan to use the funds without \u201churting\u201d the SHIB community. He reassured SHIB holders that they have no reasons to be worried. In response, SHIB community members claimed that Buterin\u2019s donation could be amongst the largest in history and could attract new users into the Shiba Inu ecosystem. User &#8220;SHIB Informer&#8221; said the following: We are not worried at all. The #SHIBArmy is strong. Today Vitalik Buterin did a lot of moves, and a portion of this involved this donation (can this be the biggest in history? Anyone knows?). The best for $SHIB is yet to come. Buterin\u2019s donations were generally praised by the crypto space. Many agreed that the funds will be better used by the aforementioned organizations and will contribute to the de-congestion of Ethereum\u2019s network. The tokens donated by Buterin saw massive drops in their price. ELON had a 95% correction. SHIB losses were minor in comparison, and since then the price has been recovering. At the time of writing, SHIB trades at $0,000021 with a 37.4% loss in the daily chart and a 1,258% gain in the 7-day chart.<\/p>\n","protected":false},"author":535,"featured_media":463738,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[8323,1946,8686,83668,83667,11214],"class_list":["post-463737","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-shib","tag-shiba-inu","tag-vitalik"],"acf":[],"yoast_head":"\n<title>Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour<\/title>\n<meta name=\"description\" content=\"Ethereum inventor, Vitalik Buterin, might have single handily put a halt to the meme coins mania, at least, in the short term. 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Buterin was the recipient\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-12T20:52:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Vitalik-Buterin-SHIB-Ethereum-ETHUSD.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"914\" \/>\n\t<meta property=\"og:image:height\" content=\"613\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Reynaldo Marquez\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@rl_m\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Reynaldo Marquez\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/\"},\"author\":{\"name\":\"Reynaldo Marquez\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/6b25e0bbb04d6129ebb4d\"},\"headline\":\"Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour\",\"datePublished\":\"2021-05-12T20:52:32+00:00\",\"dateModified\":\"2021-05-12T20:52:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/\"},\"wordCount\":502,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Vitalik-Buterin-SHIB-Ethereum-ETHUSD.jpg?fit=914%2C613\",\"keywords\":[\"ETH\",\"ethereum\",\"ethusd\",\"SHIB\",\"Shiba Inu\",\"Vitalik\"],\"articleSection\":[\"Ethereum\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2021\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/\",\"name\":\"Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Vitalik-Buterin-SHIB-Ethereum-ETHUSD.jpg?fit=914%2C613\",\"datePublished\":\"2021-05-12T20:52:32+00:00\",\"dateModified\":\"2021-05-12T20:52:32+00:00\",\"description\":\"Ethereum inventor, Vitalik Buterin, might have single handily put a halt to the meme coins mania, at least, in the short term. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/\",\"https:\/\/x.com\/rl_m\"],\"url\":\"https:\/\/wncen.com\/author\/reynaldomarquez\/\"}]}<\/script>\n","yoast_head_json":{"title":"Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour","description":"Ethereum inventor, Vitalik Buterin, might have single handily put a halt to the meme coins mania, at least, in the short term. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour","url":"http:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/vitalik-buterin-dumps-shib-price-tanks\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Vitalik-Buterin-SHIB-Ethereum-ETHUSD.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Vitalik-Buterin-SHIB-Ethereum-ETHUSD.jpg?fit=914%2C613"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethusd","shib","shiba inu","vitalik"],"dateCreated":"2021-05-12T20:52:32Z","datePublished":"2021-05-12T20:52:32Z","dateModified":"2021-05-12T20:52:32Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/vitalik-buterin-dumps-shib-price-tanks\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/vitalik-buterin-dumps-shib-price-tanks\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Vitalik-Buterin-SHIB-Ethereum-ETHUSD.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/Vitalik-Buterin-SHIB-Ethereum-ETHUSD.jpg?fit=914%2C613\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethusd\",\"shib\",\"shiba inu\",\"vitalik\"],\"dateCreated\":\"2021-05-12T20:52:32Z\",\"datePublished\":\"2021-05-12T20:52:32Z\",\"dateModified\":\"2021-05-12T20:52:32Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/Vitalik-Buterin-SHIB-Ethereum-ETHUSD.jpg?fit=914%2C613","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/463737"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=463737"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/463737\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/463738"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=463737"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=463737"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=463737"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}