Vitalik Buterin Supports Moo Deng with $292,000 Donation
Vitalik Buterin– Moo Deng, a pygmy hippopotamus that gained international fame in 2024, has found an unexpected benefactor: Vitalik Buterin, co-founder of Ethereum. Buterin, one of the most influential figures in the cryptocurrency world, has become the adoptive father of Moo Deng, a charming and expressive hippo from Thailand’s Khao Kheow Open Zoo.
In a December 26 post on social media platform X, the zoo announced that Buterin had joined their Wildlife Sponsorship Program, generously donating 10 million Thai Baht (approximately $292,000) for Moo Deng’s care and wellbeing. The zoo expressed their gratitude, stating, Thank you Vitalik Buterin for joining the Wildlife Sponsorship Program and adopting Moo Deng with a generous gift of 10,000,000 THB for her family! We look forward to working with you over the next 2 years.
Moo Deng’s rise to fame was swift and impressive. In September 2024, her playful and expressive personality, captured in heartwarming videos shared by the Khao Kheow Open Zoo, made her an internet sensation. Buterin’s adoption further fueled her popularity, as he shared his excitement about supporting Moo Deng’s growth in the coming years. “I’m happy to be adoptive father to Moo Deng as she grows up over the next 2 years and support her with my 10M THB donation, maybe more as I set aside 88 ETH for [Moo Deng] + frens,” Buterin wrote in response to the announcement on X.
Moo Deng Memecoin and the Crypto Rollercoaster
Moo Deng’s viral success also gave rise to a Solana-based memecoin, MOODENG, which gained significant traction in the crypto world. Traders quickly capitalized on the trend, with one investor turning a modest $1,300 into a massive $3.4 million—a staggering 2,554% return. However, as is often the case with memecoins, the excitement was short-lived. The price of MOODENG dropped by nearly 60%, shedding value from its peak of $0.62 on November 16, 2024.
This dramatic decline serves as a cautionary tale for memecoin traders. According to data from CoinGecko, more than 99% of traders on Solana’s memecoin launchpad, Pump.fun, lost money or made less than $1,000 in profit. Out of 8.5 million wallets, only 50 have seen returns of $1,000 or more, while just five wallets have generated between $1,000 and $10,000 in profits.
The Risks of Memecoin Trading
The rise and fall of Moo Deng’s memecoin illustrates the volatile nature of crypto trading, especially in the memecoin sector. While significant gains are possible, they come with substantial risks. As shown by the sharp 58% decline in the price of the MOODENG token, traders should exercise caution and be aware of the risks involved in speculative investments like memecoins.
As the story of Moo Deng continues to captivate the internet, her connection with Vitalik Buterin shines a light on the intersection of cryptocurrency culture and global philanthropy.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.
Leave a comment