National Day holiday saw a surge in A-shares, leaving many in the stock circle anxious during this short break; meanwhile, in the crypto circle, aside from HBO revealing who Satoshi Nakamoto is, there has been some interesting speculation in the meme market. Vitalik's address has become a new marketing method, and donating for charity has become a significant feature of the meme coin community.
"Vitalik Selling Coins" Becomes the Driving Force for Meme Surge
On August 5, Vitalik sold Nerio. Although Nerio briefly plummeted by 60%, it became a crucial step towards a market cap of $700 million for this token.
On October 5, Vitalik began selling meme tokens on-chain again, including MOODENG, Neiro, KABOSU, and others. MOODENG is a popular memecoin in the Solana ecosystem, themed around a baby hippo named "Moo Deng," which is currently very popular on social media. The highest market cap of MOODENG on ETH was only $10 million, but after Vitalik's sale, the trend reversed, and the market cap surged to $10 million within minutes, with Neiro also rising significantly.
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Yesterday, Vitalik sold MOODENG again, exchanging it for 260.16 ETH (approximately $642,000) to donate to the charity Kanro. After announcing this transaction, both MOODENG and EBULL skyrocketed, with the former surpassing a market cap of $100 million and the latter exceeding $10 million.
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"Vitalik Selling Coins" Boosts Meme "Charity Narrative" - The Underlying Logic of Meme Coin Surge
Last night, Vitalik posted on social platform X, expressing gratitude to those meme coin projects that directly donate part of their token supply to charities. (For example, I saw Ebull donated a large number of tokens to several groups last month.) Any tokens sent to me will also be donated to charities (thanks to MOODENG, the 10 billion tokens I received today will be donated to combat airborne diseases). However, I hope everyone can donate directly to charities instead of sending tokens to me; perhaps we could even establish a DAO to allow the community to participate directly in decision-making and processes.
MEME Valuation = Narrative + Numbers
For memes, narrative equals product, culture equals product, and community equals product. If we expand this, then valuation = size of narrative (the extent of market influence) + frequency of emotional awakening + celebrity effect (KOL recognition and sales ability) + SOV (Share of Voice: media share ratio) and other combined factors.
Thus, Vitalik's selling of coins to support charity can be said to significantly boost the "charity narrative" of memes. Vitalik's sale of meme coins increases market attention on these coins, leading many investors and traders to focus on them, thereby increasing market trading volume and attention. This attention often triggers speculative buying, causing prices to rise in the short term.
At the same time, it brings community effects and celebrity effects. Vitalik's selling behavior may be seen as a form of "attention" to these projects, which in turn enhances the community's confidence in them. The community's positive reactions and discussions may also drive up coin prices. Coupled with the positive impact of charitable actions, as Vitalik has often used the proceeds from selling meme coins for charitable donations, this behavior is often viewed as positive news, further enhancing the visibility and market interest in the related coins.
Conclusion
In summary, Vitalik's sale of meme coins leading to price increases is primarily due to the market attention, charitable effects, speculative psychology, and strong community reactions that his actions generate. In the cryptocurrency market, especially for meme coins, emotions and speculative behavior often have a greater influence on short-term price movements than fundamental factors.
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