Earlier today, Ethereum co-founder Vitalik Buterin expressed his appreciation for memecoin projects that donated portions of their token supply to charitable causes.
In a tweet on X, Buterin praised “Ebull” for sending a significant amount of its token to various charities last month. He appreciated the action and emphasized how memecoins have the potential to make a positive impact on society.
“I think the best thing for memecoins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens!
Vitalik Buterin
Buterin also reiterated that any memecoins sent to him will be donated to charity. He mentioned that he recently received 10 billion tokens from Moodeng memecoin which he gave to help fight airborne diseases.
However, he encouraged developers to send tokens directly to charities instead of sending them to him. He suggested they create a group called a Decentralized Autonomous Organization (DAO) to let their community help decide how to give to charity.
Price Surge Following Vitalik’s Appreciation
After Buterin’s tweet, Ebull’s value jumped by over 2,000%, trading at 0.001618 with a massive 1618% surge in market cap to $12 million according to CoinMarketCap.
Moodeng also followed with a price increase of more than 470% within the same period. Right now, the memecoin is trading at $0.0002039. Its market cap climbed to $85 million, and its trading volume increased by 364%.
Also Read: Vitalik Buterin Praises Ethereum Devs’ Cooperation Efforts
