Originally published on: December 18, 2024
A parody X account, allegedly belonging to a former trader named Richard E. Ptardio, recently made headlines for donating memecoins inspired by him to charity after their value peaked at almost $1 million.
Ptardio claimed to have received 700 million Richard Ptardio (PTARDIO) tokens on Dec. 17, generated through the Solana token creator Pump.fun. Initially valued at $53,250, the tokens surged by 1,765% in just a few hours, reaching close to $1 million.
Subsequently, Ptardio distanced himself from the project, stating on X that the creator minted the tokens without his knowledge. He decided to sell his holdings and donate all proceeds to Save the Children, contributing 313.4 Solana (SOL) tokens worth $69,000.
Memecoin creators often send a portion of the token supply to the person who inspired them, as seen in this case with Ptardio.
The Ptardio account portrays an older man with a background in trading in major financial hubs, who recently transitioned to discussing the crypto world. Advocating for memecoin investments, he believes in the market’s inclination towards bold actions rather than logical ones.
Despite being created just 20 hours earlier, PTARDIO’s market cap skyrocketed to $4.75 million before decreasing to $258,000, according to GeckoTerminal data. The overall memecoin market cap stands at $128.2 billion, dominated by tokens like Dogecoin (DOGE) and Shiba Inu (SHIBA).
The intriguing story of Ptardio’s memecoins highlights the unpredictable yet fascinating nature of the crypto market and its impact on charitable causes.
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