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The memecoin took a big hit after Vitalik Buterin sold his entire 17 billion Neiro airdrop. However, in an unexpected twist, its value surged by 200% shortly afterward.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/4fc3c803d8df4745bc576f906308c032.png" />Despite Buterin dumping the token, the memecoin saw a significant increase in value, likely due to its attempt to leverage Buterin’s fame for attention.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/7e8e1551e3e1412194f5a0cbfd1c4e10.png" /><h3 id="memecoin-experiences-wild-price-swing-after-vitalik-buterin-s-airdrop-sale">Memecoin Experiences Wild Price Swing After Vitalik Buterin’s Airdrop Sale</h3>A relatively unknown token tried to boost its credibility on August 4 by airdropping 4% of its supply to <a href="https://cryptosheadlines.com/vitalik-buterin-shifts-ethereum-to-coinbase-price-drop-below-1500/" rel="noopener noreferrer nofollow">Ethereum co-founder Vitalik Buterin</a>, claiming him as the largest holder. However, shortly after receiving the airdrop, Buterin sold his entire 17.1 billion NEIRO memecoins for 44.5 ETH, worth approximately $103,000 at that time.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9c0ce0774b6d46dfbb4a5bdf6d080346.jpeg" />Transfers to and from vitalik.eth. Source: <a href="https://etherscan.io/address/0xd8da6bf26964af9d7eed9e03e53415d37aa96045#tokentxns" rel="noopener noreferrer nofollow">Etherscan</a>This immediate sale caused the token’s value to plummet by about 60%, as the market reacted to the sale. Despite this initial drop, the Neiro (NEIRO) token has since surged over 200%, <a href="https://cryptosheadlines.com/dogwifhat-reaches-all-time-high-after-binance-listing/" rel="noopener noreferrer nofollow">reaching an all-time</a> high of $0.000038 on August 5, according to DexScreener data.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/3bad5548b8ea453d92f93ec39e5cb145.jpeg" />NEIRO token prices. Source: Dexscreener<h3 id="neiro-token-volatility-and-memecoin-market-decline">Neiro Token Volatility and Memecoin Market Decline</h3>The NEIRO memecoin experienced significant volatility recently. After airdropping 4% of its supply to Ethereum co-founder <a href="https://cryptosheadlines.com/shiba-inu-shib-founder-ryoshis-connections-to-vitalik-buterin-ccp-wanxiang/" rel="noopener noreferrer nofollow">Vitalik Buterin</a>, claiming he was the largest holder, Buterin quickly sold his entire 17.1 billion NEIRO stash for 44.5 ETH, worth about $103,000 at the time. This sale caused the token’s value to plummet by around 60%.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/7e8e1551e3e1412194f5a0cbfd1c4e10.png" />However, the token later surged over 200%, reaching an all-time high of $0.000038 on August 5. In response, the Neiro on Ethereum (CTO) account requested Buterin to donate part of his proceeds to a stray dog shelter, thanking him for his influence.There are multiple NEIRO <a href="https://cryptosheadlines.com/binance-shows-support-for-brc-20-token-listings/" rel="noopener noreferrer nofollow">tokens listed</a> on CoinGecko and Uniswap, with concerns about potential scams. A Solana-based NEIRO token’s developer reportedly profited $2.85 million from a rug pull, and warnings about the Ethereum NEIRO token being a honeypot were issued.<a href="https://cryptosheadlines.com/tether-usdt-hits-new-record-with-18-million-weekly-transactions/" rel="noopener noreferrer nofollow">Also Read: Tether (USDT) Hits New Record with 18 Million Weekly Transactions</a>In the broader memecoin market, total market capitalization has fallen by 16% to $35.8 billion over the past 24 hours. Major memecoins like Pepe (PEPE), dogwifhat (WIF), Floki (FLOKI), and Book of Meme (BOME) have each dropped between 18% and 20% in the same period.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/92a526017ad44cbc94279bb8779ce207.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.Join Cryptos Headlines <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">Community</a>Follow Cryptos Headlines on <a href="https://news.google.com/publications/CAAqBwgKMLz3-wowvuzoAg" rel="noopener noreferrer nofollow">Google News</a>

Memecoin Dumps and Pumps After Vitalik Buterin Sells Airdrop

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