Ethereum co-founder Vitalik Buterin has warned crypto community against investing in tokens he recently sold off
In a recent Reddit post, Ethereum co-founder Vitalik Buterin issued a warning to the crypto community about the tokens he recently sold off, including meme coin BITE.
Buterin stated that these coins have “no redeeming cultural or moral value” and are likely to result in financial losses for investors.
The post has sparked a mixed reaction from the community, with some dismissing Buterin’s warning and predicting that BITE and other coins will skyrocket in value.
Others have welcomed Buterin into BITE’s circle, jokingly thanking him for “making himself part of the community.”
This is not the first time Buterin has made waves in the meme coin world. In 2019, he famously dumped Shiba Inu, urging others not to invest in the coin, only for it to become one of the best-performing cryptocurrencies of the year. After removing 95% of the liquidity from a Shiba Inu Uniswap pool and later burning his share of the token’s supply, Buterin urged the community not to gift him any tokens.
Some jokingly speculated that his recent sell-off of BITE and other tokens was due to the ongoing bear market.
The tokens Buterin recently sold off have managed to attract plenty of attention from meme coin hunters. Despite plunging prices, speculators expect that coins like BITE or Shikoku (SHIK) could end up being the next big thing.
It remains to be seen whether Buterin’s anti-endorsement of BITE and other coins will have a significant impact on their value. However, as with Shiba Inu, it is possible that the meme coin could surprise investors and become a hit in the future.