RE: Ethereum Sends Meme Coins Packing
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So Vitalik sent $1.2 billion worth of SHIB to an Indian covid charity.
But for them to have that money actually help them, won't they have to dump it?
And if you dump 50% of a token's supply, or even know that 50% of a token's supply is now open to be dumped, the project is sorta screwed at least in the medium term?
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Yep, I believe so anyone holding on to that is in for a rude awakening. It's kind of a punch to the face to meme coins which I honestly welcome gives people a reality check things were getting out of hand. Honestly so many trash coins launching simply to make a quick buck. It's damaging to all of crypto when that starts to happen. Also goes to show you the crap that goes on behind that most don't know about. Imagine investing in that or other tokens without knowing about premines etc. Shocking wake up call the market needed? I think so.
Those $1 billion worth of SHIB and other meme tokens will not be of that much worth by time charities figure out on how sell them.
Maybe India bans crypto by that time. Right now we are already facing banks not providing proper services to the crypto exchanges.
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seeing those coin are up for dump, wouldn't it being dump earlier by the bag holder rather then the charity itself? i have read a bit of this Shiba and Vitalik story, but at the moment we might want to say a bit of farewell for the cute looking shiba.
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