Friday, December 2, 2022
HomeCrypto NewsMarketHas Ethereum Founder Vitalik Buterin Accidentally Given Birth To A New Meme...

Has Ethereum Founder Vitalik Buterin Accidentally Given Birth To A New Meme Coin?

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Buterin accidentally gives life to a new meme coin.

In a tweet last Friday, Ethereum founder Vitalik Buterin sharing what can only be described as a random thought, joked that a project called “THE Protocol” should be created. According to Buterin, it would be easy to shill by referencing any mention of THE by influential community members.

Well, like clockwork, moments later, THE Protocol (THE), an ER20 protocol, came to life. And unsurprisingly, the Twitter admins of the new meme coin have taken a cue from THE Ethereum founder by shilling the token whenever someone influential uses the word ‘THE’.

As reported by Nansen, THE has taken a leaf out of the Shiba Inu playbook, opting to give 10% of its supply to Vitalik Buterin, making him the largest token holder with 100 million THE. Notably, the new meme coin has managed to attract the attention of some popular Ethereum investors and surged 1000% in 24 hours on Tuesday.

Remarkably, THE is already listed on Hotbit and MEXC Global in less than six days. Moreover, it has already attracted a market cap of over $6 million.

It is a testament to how far the crypto community will go in search of excitement, especially as markets have been consolidating for months. Notably, few things are more exciting than meme coins in the crypto space, which can be very volatile and print huge gains based on little to no utility other than the fact that people are talking about it.

CoinGecko data shows that THE is already up 97.7% today, trading at the $0.03352854 price point. 

It is worth noting that investors have to exercise a great deal of caution with projects like these as they carry substantial risk, with only early investors most likely to benefit.

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Mark Brennan
Mark Brennan
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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