Bitrabo Editorial
The world’s largest meme coin, Dogecoin (DOGE), experienced a significant rise in status when Vitalik Buterin, the founder of Ethereum (ETH), disclosed that he holds a substantial amount of DOGE tokens. This unexpected endorsement has sparked excitement within the crypto community.
Buterin Acknowledges Holding DOGE
During the Ethereum Development Conference (EDCON) held in Tokyo, Japan from July 24 to 30, attendees witnessed noteworthy speeches by Ethereum co-founders Vitalik Buterin and Joseph Lubin. Buterin, donning a distinctive outfit consisting of a white horse head mask and a Japanese kimono, surprised the audience by revealing himself as a Dogecoin HODLer. This revelation garnered laughter and enthusiasm among the conference participants.
Despite the light-hearted nature of Buterin’s disclosure, his endorsement of Dogecoin has significantly elevated the status of the beloved meme coin. Buterin has long showcased interest in meme coins, emphasizing their contribution to the crypto industry while supporting their presence in the market.
As the pioneer meme coin, Dogecoin boasts a large following within the crypto community, with millions of investors and supporters. Buterin previously shared his successful investment in Dogecoin, indicating the substantial profits he has reaped from his early involvement with the meme coin.
Although Buterin’s exact holding of Dogecoin remains unknown, public records show his predominant ownership of ETH tokens, with a reported 245,178 ETH valued at $770.3 million.
Dogecoin’s Price Trend
Despite Buterin’s endorsement, Dogecoin is currently trading at $0.11, displaying a 3.6% decrease in the last 24 hours and a 10.21% drop over the past week according to CoinMarketCap data. Despite recent price fluctuations, analysts express strong optimism regarding Dogecoin’s future performance and anticipate a significant surge in value.
Crypto analyst Javon Marks forecasts a remarkable price increase for Dogecoin, predicting a potential rise from under $0.5 to exceed $10, reflecting a 7,200% surge in value. Marks’ bullish outlook underscores the positive sentiment surrounding the future trajectory of the meme coin.