Ethereum Creator Donates $ 1 Billion To India In Shiba Inu Currency To Fight COVID-19

But his transfer completely moved the value of the cryptocurrency, which fell by up to 30% after the operation. 'Shiba Inu' wants to become the new popular currency and fight against the Doge.

The creator of the cryptocurrency Ethereum, Vitalik Buterin, donated a large amount of his supply in another cryptocurrency, ‘Shiba Inu’, to support the fight against COVID-19 in India, one of the countries hardest hit by the disease.

According to the transfer history, Vitalik donated 500 ethereum and 50 billion 'Shiba Inu' coins to India's COVID-Crypto Relief Fund, an aid effort to fight the crypto pandemic.

Although this transfer was valued at a billion dollars at the time, the fact that so many currencies have left one market to another caused the value of the ‘Shiba Inu’ to plummet by as much as 30%.

Sandeep Nailwal, founder of the organization in India, assured that "We will not do anything that harms any community, especially the retail community involved with $ SHIB."

To date, 22.6 million COVID-19 cases have been identified in India. At least 246,116 people have died.

Shiba Inu, another meme currency like Dogecoin
Shiba Inu has been in the market for months and has a lot like Doge: although they have serious projects, they were born as memes in the market.

The price of Shiba Inu had skyrocketed in recent days due to the growing popularity of Doge, which also bears the same 'Shiba Inu' breed of dog as its image. Given this, $ SHIB is promoted as the 'dogecoin killer'.

With greater acceptance in the market, the current price of Shiba Inu is 0.00001862 dollars, with peaks of 0.000030. It is just being listed in India and a further increase in value is expected from the act.