Vitalik Buterin Proclaims Himself a Dogecoin Hodler at EDCON 2024
The annual Ethereum Development Conference (EDCON) took place in Tokyo, Japan from July 24 to 30, attracting the global Ethereum community. Notable speakers at the conference included Ethereum founders Joseph Lubin and Vitalik Buterin.
A memorable moment occurred when Buterin took the stage on July 30 wearing a white horse head mask with black details and a dark kimono garment. Despite the disguise, Buterin’s identity was revealed, and he humorously claimed to be a Dogecoin hodler.
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While the theatrical entrance garnered attention, Buterin’s speech focused on Ethereum’s future over the next decade. However, his declaration of being a Dogecoin hodler sparked interest among attendees, considering Buterin’s historical involvement with the meme coin.
Buterin disclosed his early interest in Dogecoin during a conversation with Lex Friedman in June 2021, revealing that he invested $25,000 in Dogecoin in 2016, which had grown to $4.3 million by June 2021. He donated this windfall to charity, acknowledging the unexpected success of his investment despite its lack of fundamental grounds.
Speculation arose about a potential collaboration between Buterin and Dogecoin in May 2022 when he donated $1 million in Ethereum to the Dogecoin Foundation. Subsequently, in November of the same year, Buterin contributed an additional 20 million DOGE to the foundation after joining its advisory board in August 2021.
Despite his support for Dogecoin, Buterin expressed skepticism towards Shiba Inu, another meme coin built on Ethereum. He anticipated that Shiba Inu would succumb to the typical fate of meme coins—a crash after initial hype—although he acknowledged that SHIB exceeded his expectations.
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Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
