Vitalik Buterin, the founder of Ethereum, used dog tokens such as Shiba Inu (SHIB), Akita Inu (AKITA), Dogelon (ELON), which emerged with Dogecoin acceleration, to donate to several different places, including the Covid-19 charity fund in India. The people and individuals who developed these projects sent a portion of the total supply directly to Vitalik Buterin address after generating the token.
For example, the founder of Shiba Inu sent half of the total supply to Buterin, believing that he would never use it. In our article about SHIB, we mentioned that this could be Shiba Inu’s Achilles tendon.
How much donation did he send to where?
The belief that Vitalik Buterin would not touch these tokens was in vain as of yesterday evening. As can be seen from Buterin’s blockchain wallet,
- He sent 50 trillion 693 billion 552 million 78 thousand SHIBs to the Covid-19 aid fund established for India by Sandeep Nailwal, the founder of Polygon, at around 21:00 yesterday evening. Their value at the time of transaction was more than $ 1.2 billion.
- 49 trillion 340 billion 69 thousand 420 AKITA has been sent to Gitcoin, an Ethereum-based project where software developers can contribute to open source projects and generate revenue. Their current value was more than $ 440 million.
- He sent 432 trillion 583 million 89 thousand 105 Dogelon (ELON) to the Methuselah Foundation, which works to extend the average human life span. Their value at the time of writing is 340 million 427 thousand dollars.
- He sent 13,292 Ethereum (ETH) worth more than $ 50 million to a nonprofit called GiveWell. GiveWell analyzes how efficiently each donation sent to different donation campaigns is used, giving people an idea of where they can benefit more.
- Donated 1,050 ETH worth $ 4 million to Machine Intelligence Research Institute. Founded in 2005, this non-profit organization tries to make studies in this field safer by analyzing the existential risks inherent in artificial intelligence.
Dog tokens start losing value after donations
As Buterin donated these donations with tokens like SHIB, not a stablecoin, there could be big changes in the dollar-based value of the donations.
The action of tokens treated as out of circulation after being sent to Buterin has led to a decline in canine tokens. As of Tuesday morning, in the last 24 hours, according to CoinGecko data:
- Shiba Inu fell 29.6% to $ 0.00001969.
- Akita Inu fell 33.2% to $ 0.00000770.
- Dogelon Mars fell 48.8% to $ 0.00000081.