MANYU (MANYU) community members are hopeful that the token could replicate Shiba Inu’s success, following its recent sale by Ethereum co-founder Vitalik Buterin.
Yesterday, the Ethereum co-founder sold several crypto assets he received from unsolicited donations from investors and project owners. Notably, the popular meme coin, MANYU, was among the tokens Buterin sold.
Etherscan data shows that Buterin sold over 2 trillion MANYU tokens, worth roughly $39,484, on CoW Protocol. The sale came less than two months after he received the tokens from MANYU community members in unsolicited donations.
Shiba Inu-Style Rally Incoming?
Buterin’s recent wallet activity, particularly his sale of MANYU, did not go unnoticed by enthusiasts of the token. Interestingly, most users see the sale as a bullish event that could drive MANYU’s value to greater heights.
Some users referenced how Shiba Inu’s market cap reached billions of dollars after the Ethereum founder offloaded SHIB. Recall that the Shiba Inu’s pseudonymous founder Ryoshi gifted Buterin 50% of the token’s supply (500 trillion SHIB). The donation was part of a broader marketing strategy aimed at attracting investors’ attention to SHIB.
Shortly after the donation, Buterin burned over 410 trillion SHIB and donated the rest to nonprofits supporting COVID-19 relief efforts. Although the transaction initially resulted in a sharp decline in SHIB’s price, it rebounded, eventually reaching an all-time high five months after Buterin offloaded the tokens.
In a separate development, the price of the pygmy hippo-inspired meme coin, Moo Deng (MOODENG), also rallied significantly after Buterin sold 10 billion units of the token. Following his recent MANYU sale, X user Diana Sanchez suggested that whenever Buterin sells or disposes of a meme coin, the token eventually becomes legendary.
Another user, Belen Franchese, speculated that history will definitely repeat itself with MANYU, implying that the token’s price would rally significantly, just like Shiba Inu and MOODENG did in the past.
MANYU Soars Only 2.51% in 24 Hours
In the meantime, MANYU is currently up 2.51% over the past 24 hours and is currently trading at $0.00002117 per token. It ranks as the 8,974th cryptocurrency globally with a valuation of $21,170.
Currently, MANYU has fallen 95.13% from its previous ATH of $0.0004344, recorded on February 18. While meme coins like Shiba Inu and MOODENG rallied significantly after Buterin offloaded them, it remains uncertain whether MANYU will follow the same trajectory.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
