- PTARDIO token surged by 1,765%, reaching nearly $1 million before quickly falling.
- After the PTARDIO token surge, Richard E. Ptardio donated 313.4 Solana ($69K) to Save the Children.
- The Memecoin market reached $128.2 billion, with Dogecoin and Shiba Inu dominating the space.
A parody X account Richard E. Ptardio, a former trader, has donated nearly $1 million worth of memecoins to charity after an unexpected surge in their value. On December 17, Ptardio received 700 million PTARDIO tokens, created through the Solana token creator Pump.fun. Initially worth $53,250, these tokens skyrocketed by 1,765%, reaching a peak value close to $1 million.
Richard Donates $69K to Save the Children
Ptardio shared screenshots documenting the dramatic increase in the value of his holdings. The PTARDIO tokens soared in price in just hours before swiftly dropping again. PTARDIO’s price peaked at $0.0068 before retreating. Despite the volatility, Ptardio intended to distance himself from the project and its creator.
Ptardio did not plan the sudden surge in value. In a post, he clarified that he had no involvement in the token’s creation and stated his intent to sell his holdings. “I shall be selling my position and donating the proceeds to Save the Children,” Ptardio declared.
The donation was significant, with Ptardio contributing 313.4 Solana (SOL), valued at $69,000, to Save the Children, a charity focused on global children’s health and education. The move mirrors similar actions by other memecoin recipients, such as Ethereum co-founder Vitalik Buterin, who donated large portions of memecoin to charity.
Memecoin creators often send large portions of their tokens to prominent figures or individuals associated with the meme. For instance, Buterin had received tokens like MOODENG, inspired by a viral pygmy hippo, valued at $182,000, which he later donated to charity. This trend is gaining traction within the crypto community, where figures use the windfall from memecoins for good causes.
The PTARDIO Memecoin’s Unpredictable Market Dynamics
The Ptardio account has been active in crypto, attracting attention with its unique presence. As an experienced trader with a background in London, Hong Kong, and New York, Ptardio began engaging with crypto enthusiasts on X in September. Since then, the account has amassed 3,000 followers, sharing humorous and insightful commentary about the crypto world.
Though relatively new to the platform, Ptardio’s account has captured attention for promoting memecoin investing, describing it as a space where “weirdness” drives real action. He claimed that the crypto market rewards boldness rather than logic, a sentiment that has resonated with many memecoin enthusiasts.
The PTARDIO memecoin, which had a market cap of nearly $4.75 million at its peak, was created just hours before Ptardio’s donation announcement. Its rapid rise and fall reflect the often unpredictable nature of memecoins. Ptardio, who claimed to have worked for 35 years in trading, has recently gained a following on X, where he shares his views on crypto’s strange and dynamic world.
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