Just two days ago, memecoins such as Dogelon, Akita and Shiba Inu were all the rage, as the buying frenzy was in full blast, emerging as sympathies of Dogecoin However, those coins are now sitting in the shitter, with Shiba Inu and Akita having been dumped by Vitalik. These shitcoins are now 70-80% off their highs. What a crazy ride it has been!
This was a much needed wake-up call given to new crypto traders who entered these coins for the memes and in order to get rich quick, and also to curb the manic sentiment early in the crypto market which may prove dangerous if left alone, as it may lead to a huge crash once the bubble pops in the future.
Props to Vitalik for saving the crypto market and for donating over $1 billion to the India Covid Relief Fund! Let's now see the money start to flow into the legitimate projects with actual use cases, which will benefit humankind!