Ethereum Co-founder donated worth $1 billion of Memecoin. Can it solve India’s health crisis?

Crypto billionaire and Co-founder of ETHEREUM, Vitalik Buterin contributed over a billion dollars worth of “Memecoins” to support India. He donated 50 trillion Shiba Inu coins on Wednesday, which is projected to be up to $1B to the India Covid Crypto Relief Fund. This campaign is being managed by one of India’s crypto tech entrepreneurs, Sandeep Nailwal.

According to India’s daily report, there are more than 400,000 new daily COVID-19 cases. India sought help and back up from other people to survive the pandemic. Global aid is what the world needs to fight the pandemic health crisis. Due to the rising number of cases, various countries suffered from this novel disease, including India- one of the most impacted countries of this catastrophe.

This situation made Sandeep build the relief campaign “Covid Crypto Relief Fund”. Vitalik’s contribution will be used for essential supplies like oxygen cylinders and more medical products that the country seriously needs.

After the transaction, the $SHIB price plunged by 35% and continues to fluctuate, which is going to be lesser than a billion dollars once converted. Although, Sandeep’s team tweeted that they plan to convert it gradually “over a period of time” with respect to the SHIB holders.