Ethereum co-founder Vitalik Buterin made striking statements about meme coins.
Vitalik Buterin included meme coins in his blog post dated March 29th. Stating that he wanted to see more “useful” meme coins in the cryptocurrency market, Buterin emphasized that this would be beneficial for the industry.
On the contrary, Buterin stated that many pointless and even racism-based meme coins have been circulating the market lately, emphasizing that this mindset ultimately harms the majority and only benefits a certain group of people:
Meme coins, like other bullish markets, are warming up again this time, which is worrying to many people because there is nothing particularly new and interesting about meme coins. Indeed, quite the opposite: it seems like a group of Solana memecoin are explicitly engaging in extreme racism recently. And even the non-racist meme coins often seem to skyrocket and then lose value without adding any value afterwards.
However, expressing his support for meme coins that focus on areas such as gaming, education, and blockchain, Buterin stated that the market needed these.
Meme Coin Example Given by Buterin Soared
As an example, Buterin pointed out a meme coin called Dogelonmars (ELON), which brought about a price hike. Buterin said that he received half of the supply of this meme coin as a gift and immediately donated it to the Methuselah Foundation.
Following this donation, Buterin noted that a positive relationship was established between the Dogelon Mars community and the Methuselah Foundation, and ELON became a charitable crypto in retrospect.
After Buterin’s statement, ELON showed a 25% increase in no time.
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