Shiba Inu coin was “Rug Pull” by V God, how long can Crazy Animal City be crazy?

Etherscan on-chain data shows that Ether co-founder V God (Vitalik Buterin) withdrew 95% of his liquidity from the Uniswap pool of Shiba Inu (SHIB), the Shiba Inu coin.

Etherscan on-chain data shows that Vitalik Buterin, co-founder of Etherscan, withdrew 95% of the liquidity (over 2 trillion SHIBs) from the Uniswap pool of Shiba Inu (SHIB) on the afternoon of May 12 EST.

Shiba Inu coin was "Rug Pull" by V God, how long can Crazy Animal City be crazy?

This behavior is often compared to a “Rug Pull”. It describes people standing on a rug, and suddenly the rug is pulled away, as in the following picture.

Shiba Inu coin was "Rug Pull" by V God, how long can Crazy Animal City be crazy?

Buterin is the biggest Shiba Inu coin whale, and the anonymous developer previously sent 50% of the total SHIB supply to V-God’s wallet, saying, “There is no greatness without vulnerability, and as long as VB doesn’t Rug Pull us, SHIB will continue to exist and grow.

In addition to SHIB, V-God is also selling off “Akita Inu” tokens (AKITA), which were also given to him by the developer, and Buterin took the opportunity to clean out his crypto wallet, with 660 billion Shiba Inu (SHIB), 140 billion Akita Inu (AKITA) and 43 billion Dogelon Mars (ELON), plus 13,291 WETH withdrawn from Uniswap, were converted to 15,719 Ether, worth about $63 million.

CMC data shows that in the past 24 hours, SHIB fell nearly 40%, AKITA fell nearly 50% and ELON fell 90%.

However, the losses of “animal coin” speculators have benefited charitable causes, with Buterin sending more than 16,000 ETH and these dog-themed tokens to various charities, with the largest amount (13,292 ETH) being sent to the non-profit charity Givewell.

500 ETH (over $2 million) and 10% of individually cleared SHIB tokens sent to Crypto COVID India, a new crown relief fund in India, by V-God at press time.

ELON tokens and 1,000 ETH sent to the Methuselah Foundation’s Coinbase wallet.

Gitcoin, an ethereum open source development foundation, received $5 million worth of AKITA tokens.

Over the past period, the crypto market has been “piggybacking”, with the skyrocketing of various aircoins sending investors into “Animal City”, with one SHIB token holder reportedly turning $17 into $5.9 million in less than a year. A lot of newcomers are attracted by the huge profits, and the old people in the cryptocurrency world can only watch the market continue to go crazy. Everyone knows it is a big unhealthy bubble, but no one knows when the game will stop.

Primitive Ventures founding partner Hugh Wan launched a poll on Twitter: “As an industry leader, V God’s withdrawal from SHIB liquidity is _“?

Shiba Inu coin was "Rug Pull" by V God, how long can Crazy Animal City be crazy?

56.6% of the voters thought it was positive that being a thought leader in the crypto industry should stand against useless air projects, and that V-God’s actions might be detrimental to the market in the short term, but in the long term, it would be beneficial to shift the focus to crypto projects that offer useful programs.

Others say it is completely unfair and undermines trust in the decentralized network.

Vitalik 100% Rug up these modal token investors… I wouldn’t be surprised if this causes a lawsuit”, said the director of research at The Block.

Are you a spectator or a participant in this “zoo” drama?

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/shiba-inu-coin-was-rug-pull-by-v-god-how-long-can-crazy-animal-city-be-crazy/
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