The news of Buterin’s contribution sent the MOODENG meme coin soaring, with its price doubling within two hours of the announcement.
Ethereum co-founder Vitalik Buterin has decided to donate 10 million Thai baht (worth around $292,230) to Thailand’s Khao Kheow Open Zoo. The funds will support the zoo’s operations, wildlife sponsorship program, and a new exhibit dedicated to Moo Deng, a pygmy hippopotamus who inspired the popular MOODENG memecoin. Alongside this, Buterin has formally adopted Moo Deng for the next two years.
The donation, announced by the zoo’s administrator, will be disbursed in two installments, with the first $5 million baht installment set for today. Buterin stated that the date for the second installment will be announced later, but no later than one year from December 26, 2024.
In a letter shared by the zoo, Buterin expressed gratitude to the Thai community for their hospitality during his recent visit. He thanked the country for its support of Ethereum’s successful community events in November, including the Devcon SEA conference in Bangkok.
MOODENG Token Surges
The news of Buterin’s contribution sent the MOODENG meme coin soaring, with its price doubling within two hours of the announcement. Although it has since stabilized at $0.00021, the token remains up by over 66% on the daily chart. In the past day, the meme coin has recorded a 350% rise in its trading volume to $24.7 million.
Launched on September 11 via Pump.fun, MOODENG pays homage to the pygmy hippo, who gained internet fame for her adorable and assertive personality. It has gained several exchange listings, including on the Binance Futures market. Since its debut, MOODENG has experienced massive growth, surging 4,444% to its current valuation.
The token’s market capitalization has recorded a 60% rise in the past 24 hours, now standing at $85.5 million, according to CoinMarketCap. It achieved an all-time high of $0.00043 on November 20 during a broader crypto market rally.
This is not Buterin’s first foray into donations. In October, he donated 10 billion MOODENG tokens sent to him, to the biotech charity Kanro for anti-airborne disease research. Even with the sale, vitalik.eth still held 40 billion MOODENG tokens at the time. Buterin also clarified that any meme coins sent to his wallet would be redirected to charitable causes. He also encouraged developers to establish decentralized autonomous organizations (DAOs) to allow communities greater control over token-related donations.
Meanwhile, the overall memecoin market has seen a 4% drop in market capitalization over the past 24 hours, now sitting at $97 billion. This decline reflects the broader market downturn, with Bitcoin falling from $108,268 to as low as $92,000. The largest cryptocurrency is currently trading at around $96,133, down by around 2.5% in the past 24 hours.
next