Richard E. Ptardio's Memecoin Journey

Richard E. Ptardio, a parody trader account, received a substantial supply of a memecoin resembling his image, which surged to nearly $1 million in value.

Data on the blockchain indicates that 700 million tokens of the memecoin PTARDIO were sent to Ptardio on December 17. The tokens seem to have originated from the memecoin launchpad Pump.fun. Ptardio showcased evidence of his PTARDIO holdings escalating from $54,000 to about $995,000 as the price of the memecoin increased. PTARDIO's value peaked at $0.0068 before declining.

It is not uncommon for memecoin creators to distribute significant portions of their tokens to personalities linked with the meme or notable figures in the cryptocurrency realm.

In October, Ethereum co-founder Vitalik Buterin received a portion of the memecoin MOODENG, linked to the viral pygmy hippo, which was valued at $182,000 at that time. He later swapped MOODENG for ETH and donated the funds to a charity addressing airborne illnesses, encouraging individuals to donate memecoins directly to such charities, as reported by The Block previously. He has enacted similar gestures with other memecoins.

Clarification: The account is a parody.