How ETH Founder Inspired 3 Meme Coins this Week with Over $1M Cap

• The founder of Ethereum has sparked the creation of the third shitcoin this week.
• Buterin suggested conditional burns as a countermeasure to Twitter spam bots.
• The shitcoin increased by 3,888% within 24 hours, with a market cap of over $1 million.

The founder of Ethereum, Vitalik Buterin, is currently having an Elon Musk-like effect in the crypto community, igniting a trove of meme tokens. 

In a tweet yesterday, Buterin suggested conditional burns as a countermeasure to Twitter spam bots. He argued that if the recipient of a message is unhappy with a user’s response to them, they should have the authority to force the user to burn a fictional token X.

Notably, his comment was in response to a proposal by the CEO of the crypto exchange FTX, Sam Bankman-Fried (SBF). SBF proposed that social media messages are hosted on-chain, and charging gas fees for communications will probably deter spam bots. 

Not too long after the idea-sharing session before, a blockchain developer launched two X tokens, one on the Ethereum chain and the other on the Binance chain (BSC). Interestingly, the coin on the ETH network attracted the most enthusiasm. 

According to information from DEXTOOLS, X-ETH has increased by 3,888% in less than 24 hours and has a total market cap of more than $1 million. On the other hand, the BSC token is struggling, having declined by 74.59% and with a tiny $262 market cap.

Previously this week, meme tokens THE and Die came live, both inspired by the Ethereum founder. The launch of X brought back some excitement in the crypto industry, thanks to Vitalik Buterin. None of the three meme coins have made it to any significant crypto exchange.