Meme Street kicks off FOMO – Vitalik vs SHIBA

A few months ago, Doge was leading the way throughout the town, whereas now you have to hold a magnifying glass to find him.

Meme Street kicks off FOMO - Vitalik vs SHIBA

A few months ago, Doge led the town, but now you have to look through a magnifying glass to find him.

New money can bring new mobility, and Doge had hoped that this mobility would clean up the filth on the streets.

But he was wrong.

And very wrong.

Doge is used to seeing all kinds of gamblers; he’s been working on Meme Street since 2013. But these Copycat collectors today are not the same kind of people.

Mainstream media attention has made the market as accessible as a cheap sandwich, and hopeless degenerates have made incredible fortunes.

How can Doge bring some respect to this town?

He needs a partner, and only one person is right for the job ……

Meme Street kicks off FOMO - Vitalik vs SHIBA

To put it all in perspective, it all started with SHIB, and it’s not over yet.

Since the birth of SHIB, countless imitations of Doge’s tokens have appeared, and each one seems to be better than the last.

AKITA, LEASH, KISHU, DOGE2; net shameless and useless Meme coins, yet they all trade in the millions of dollars or more per day.

Driven by the TikTok hype mob, SHIB rose 28,000% in 30 days and tripled the price of ethereum gas from its previous lower levels.

At its peak, SHIB contract interactions consumed over 10% of the block’s gas.

How dare they ruin our transaction fees with such an unoriginal meme?

When the anonymous founder(s) created SHIB, they added 49.5% of the token supply to Uniswap. The remaining 50.5% of the tokens were gifted to Vitalik Buterin, along with some LP tokens for the SHIB-WETH Uniswap pool.

The Shiba whitepaper states.

We gave away over 50% of our total supply to Vitalik. there is no greatness without weakness, and as long as Vitalik lives up to us, then SHIBA will grow and survive.

Meme Street kicks off FOMO - Vitalik vs SHIBA

However, on May 12 at 06:36:09 PM , Vitalik Buterin then removed all of his LP tokens from the SHIB-WETH pool and then sold 5% of his 40 billion SHIB and donated the proceeds to the Indian cryptocurrency Covid Relief Fund.

In addition, he donated other Meme coins sent to his wallet to various other charities.

50 billion AKITA tokens donated to the Gitcoin community Multi-Sig.

13,292 ETH donated to Givewell.

1000 ETH + 40 billion ELON tokens donated to the Methuselah Foundation.

1050 ETH was donated to MIRI (Artificial Intelligence Security Organization).

500 ETH was donated to Charter Cities Institute.

Meme Street kicks off FOMO - Vitalik vs SHIBA

Over $1 billion in Meme coins were donated to charity!

And scenarios like this then make you think.

If even the worst tokens can be exchanged for fiat currency…

So, are $DOGE, $ASS and $CUMMIES diluting dollars?

Meme Street kicks off FOMO - Vitalik vs SHIBA

Just like that, an involuntary contributor sells his tokens and the retail investors lose a lot of money.

In any normal situation, this behavior would be called a “rug pull” (rollover).

However, considering Vitalik’s relationship with Ether and the beneficiaries of the funds, it is debatable to try to put this label on V-God.

Some say.

V-God’s address was originally used as a destruction address and was essentially already compromised. This rug pull was not perpetrated by an anonymous scammer, but by such a great god. At the end of the day, the average gambler generally lost money, while the developers did not. This will certainly leave a terrible sentiment for cryptocurrencies.

Some say.

He did this because it clogged up the Ether, causing Gas to remain above 400. Because of these tokens, Uniswap exchange fees are above $300 and these tokens are quite useless. Ether was unusable, leading to a very bad result. Of course, he didn’t do anything illegal. He got his tokens, but that doesn’t mean people won’t file stupid lawsuits against him.

Others argue.

He gave away half a billion dollars to Gitcoin to support the OSS, so what’s the problem, he threw away a bunch of crap that just came out of the oven and turned it into something useful to support the ecosystem? Hahahahaha. A billion dollars went to India. How can a man be so mean? Is it not realizing that the dog system tokens are the thing that brings scams to cryptocurrencies.

Meme Street kicks off FOMO - Vitalik vs SHIBA

Despite the ridiculously high trading volume in the SHIB-WETH pool between its May 7 launch and Vitalik’s intervention on May 12, there was hardly any significant wash trading, the report said.

Arbitrage and sandwich bot activity was less than a third of the volume traded.

However, this does not mean that robots did not try to intervene ……

V-God had four failed SHIB trades and his Gas price of about 1,000gwei is eye-popping because he may have noticed the bots that could have made the trades fail.

Since V God is selling SHIB, the sandwich bot needs to hold a lot of SHIB to clip him. Therefore, only avoidance is a possible approach.

Vitalik used ArcherSwap to dump his ELON tokens, and he sent the transactions directly to the miners instead of going through the entire node.

Mind you, the debate is endless when it comes to the ethics of surface transactions, but these parasitic bots run 24/7 and are rarely subject to the same intensity of scrutiny.

Vitalik fought his way through the dark forest to stop SHIB, and now, nature is healing.

Gas prices are returning to near normal levels and this whole thing will soon be another Meme.

SHIB has fallen 33% in the last 24 hours and attention has turned to blaming Musk and his latest tweet as nearly $3.6 billion has been liquidated in the same period.

As Trump is to stocks, Musk and V-God are to cryptocurrencies.

Influencers and meme drive these markets.

Could “Tesla Banning Bitcoin” be the new “China Banning Bitcoin” FUD? If so, that would certainly be an improvement, and the power of Meme would no longer be just a joke.

2021 continues to prove the power of meme, and few seem to be able to resist the game.

Even Yearn jumped on the cheap token bandwagon, and while WOOFY didn’t bring any technical value to the table, they managed to take flight with their tokens and ride the momentum through unit deviation.

Just like in 2017, some of those who took a hit in this cycle will continue to participate in the next one.

Come for the proceeds, stay for the meme, and try to make it all back in one transaction.

Meme Street kicks off FOMO - Vitalik vs SHIBA

Doge has gotten what he wanted, but at what cost?

He had seen too many cleared accounts in one day, and its lifetime, perhaps, would be the same.

Doge picked up the phone before it had finished ringing.

It was the coroner calling. Another autopsy report had just arrived.

What was the cause of death?

Excessive Doge.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/meme-street-kicks-off-fomo-vitalik-vs-shiba/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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