Ethereum Co-Founder Triggers a Rug Pull for Meme Coins, Is Meme Coin Mania Over?

Ethereum co-founder Vitalik Buterin earlier today donated $1 billion towards the COVID relief in India and the proceeds of the donation came from the sale of meme coin Shiba Inu. A majority of these meme coins were donated by the founders of the project to Buterin’s wallet as a promotional gesture to gain more mainstream traction. However, this massive sell-off has triggered a selling spree that threatens to end the meme coin frenzy seen over the past month.