Vitalik Buterin donates 20 million DOGE to the Dogecoin Foundation

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The co-founder of the Ethereum network donated approximately $2.9 million in the foundation's native cryptocurrency to the Dogecoin Foundation, and the foundation immediately sold the tokens, making perfect use of the time for the DOGE pump.

According to a blogger under the nickname @CalisCihan, Vitalik Buterin transferred 20 million DOGE.@CalisCihan cites Dogecoin news distributor Mishaboar, who confirmed the transaction by sharing a link to view on the Dogecoin Explorer.

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The @DogecoinFdn has received a donation of 20M Dogecoin from @VitalikButerin, after the 500 ETH donation in May.An announcement by the Foundation should come soon.

At this moment no other details are available. Thanks to @CalisCihan for first noticing and researching this.

— Mishaboar (@mishaboar) November 13, 2022

@CalisCihan writes that the Dogecoin fund could sell the tokens donated by Buterin at that time.Analysis of the data chain shows that the Dogecoin Foundation sent 20 million DOGE to the exchange's address a few hours after it arrived.@CalisCohan suggests that in this way the fund was able to make money on the upward rally of DOGE against the backdrop of the takeover of Twitter.

The Dogecoin Foundation and Vitalik Buterin have not made any statements regarding the donation.Meanwhile, @CalisCihan speculates that the transfer may have been related to the launch of the DOGE ETH cross-chain bridge, which Buterin helped develop, and was in addition to his May donation of around 500 ETH.

By the end of last month, when Elon Musk bought Twitter, Dogecoin registered a series of consecutive rises on its charts, after which the value of the DOGE meme reached a multi-month high of $0.15893.

In August last year, Buterin entered the
to serve on the foundation's advisory board along with Neuralink CEO Jared Birchall.