Buterin Dumps 275T CAT Memecoin as ETH Falls Below $4K
Ethereum co-founder Vitalik Buterin conducted a new memecoin sale, offloading 275 trillion CAT tokens for $14,216 USDC via Lifi Diamond. These tokens were airdropped unsolicited two days earlier and their sale triggered a 0.81% CAT price dip. This memecoin sale follows Buterin’s pattern of converting random airdropped tokens—his wallet also received 1 billion SPURDO and 6.439 billion TWOGE—into stablecoins, often for charitable donation. Meanwhile, Ethereum slipped below $4,000 as the broader crypto market stays bearish, with $812 million liquidated in the last 24 hours and open interest down 1.28% to $161 billion. Even a 25 bp Fed rate cut failed to spark a rally. Traders should monitor memecoin airdrop tactics and key ETH support levels to gauge market sentiment.
Bearish
The large unsolicited sale of 275 trillion CAT tokens by a high-profile wallet triggered a measurable price drop, reinforcing bearish sentiment. This pattern of converting airdropped memecoins to stablecoins exerts consistent downward pressure on CAT’s price. Coupled with broader market liquidations and Ethereum’s dip below key support, traders may expect continued sell pressure and limited upside for CAT in the short term, although long-term stability depends on market recovery.