Ethereum’s Vitalik Buterin Adopts Meme-Inspired Hippo Moo Deng with 88 ETH Donation—Market Buzz Grows

Vitalik Buterin Adopts Pygmy Hippopotamus Moo Deng & Donates 10 Million Baht The Founder of Ethereum, Vitalik Buterin, has adopted a pygmy hippopotamus named Moo Deng and donated 10 million Baht. Following this, Moo Deng's popularity has positively influenced the cryptocurrency market. Moo Deng's popularity surged around September 2024, gaining fame for her delightful personality and charming social media videos at Thailand's Khao Kheow Open Zoo. Videos, being a primary content format in modern society, effectively boosted Moo Deng's popularity, spreading rapidly across the internet and demonstrating the power of social media. Following Moo Deng's rise in popularity, Ethereum and Solana experienced slight increases. As Buterin adopted Moo Deng and donated 10 million Baht (approximately USD 292,000) to Khao Kheow Open Zoo, he expressed willingness for further donations. This has contributed to raising social awareness about species conservation and animal protection. After Buterin announced the adoption of Moo Deng, Ethereum's trading volume temporarily increased by about 5%, accompanied by a slight price rise, indicating a positive impact of Buterin's social activities on the cryptocurrency market. With Moo Deng’s popularity influencing the market, a pygmy hippo-themed meme coin, MOODEM, was created on the Solana network, leading to significant profits for some traders. One investor turned a $1,300 investment into a 2,554% return, resulting in $3.4 million. However, while meme coins can yield high returns, caution is advised regarding the sustainability of such investments. The price of MOODEM dropped by 60% from its peak following the high returns. Thus, meme coins exhibit high volatility, requiring investors to exercise caution. According to data from Pump.fun, Solana's meme coin launchpad, only 50 out of 8.5 million wallets made over $1,000 in profits, and just one wallet exceeded $10,000 in profits. This data suggests that most investors have not realized profits, highlighting the importance of market analysis and risk management. In summary, Moo Deng’s popularity has slightly contributed to the rise in Ethereum and Solana prices, with Buterin’s donation and activities having a positive impact on Ethereum's trading volume and market. However, the volatility and risks associated with meme coins necessitate investor caution.