Charity Meme Coin Rises to $80 Million Market Capitalization, Donating $1 Million to Rare Brain Tumor Research
Chen’s Pledge
Siqi Chen, CEO of startup finance platform Runway, has pledged $1 million to fund research into his daughter Mira’s rare brain tumor after an unexpected cryptocurrency windfall.
Mira’s diagnosis inspired Chen to post a plea on X earlier in the week, asking for donations to support the Hankinson Lab at the University of Colorado, a research facility specializing in rare brain tumors. The post gained widespread attention, prompting a Pump.fun user to create the MIRA token.
The cryptocurrency gained immediate traction, reaching an all-time high market capitalization of $80 million. One notable supporter, an X user named Waddles, purchased and transferred 50% of the MIRA supply to Chen, instantly making his stake in the coin worth millions.
Waddles shared his motivation on X, explaining that he hoped to rally the Solana community to support a meaningful cause during the holiday season. He also expressed his happiness that things had worked out as they did and hoped that the funds would contribute to finding a cure for those with the condition.
The Charity Meme Coin
Since the announcement, MIRA has declined in value, stabilizing at a market capitalization of approximately $14 million at the time of writing. Another token, “kitkat,” named after the young girl’s dog, briefly reached a $3 million market cap before falling to around $111,000.
Ethereum co-founder Vitalik Buterin previously highlighted charity-driven meme coins as a “positive-sum” innovation within the meme coin trend.
In a March blog post, he expressed optimism that such tokens could evolve into meaningful projects, benefiting the crypto ecosystem and society while challenging the perception that these assets are useless or perpetuate harmful stereotypes.
Chen’s Update
In a December 26 update, Chen expressed his gratitude, calling it “the most memorable day on the internet” in his 30 years online. The tech executive then outlined a strategy to liquidate the funds responsibly. He revealed his plans to sell $1,000 worth of MIRA every 10 minutes indefinitely, promising to give 24 hours notice if the schedule changed.
“100% of every penny we’ve made from this, across every kitkat/meme coin, including LP fees, will be going directly to rare disease research,” Chen said.
Despite some traders profiting from the coin without contributing to charity, he emphasized the initiative’s overall positive impact. Initially aiming to raise $200,000, he confirmed they would exceed this goal significantly, ultimately donating at least $1 million to rare disease research.
Conclusion
The story of MIRA and kitkat serves as a powerful example of the potential for charity-driven meme coins to make a positive impact. Despite the initial hype and subsequent decline in value, the coins have still managed to raise a significant amount of money for a worthy cause.
FAQs
Q: What is the MIRA token?
A: MIRA is a charity meme coin created by a Pump.fun user in response to Siqi Chen’s plea for donations to support his daughter Mira’s rare brain tumor research.
Q: What is the current market capitalization of MIRA?
A: As of the time of writing, MIRA has stabilized at a market capitalization of approximately $14 million.
Q: How much money has been raised for rare disease research?
A: Siqi Chen has pledged to donate at least $1 million to rare disease research, exceeding the initial goal of $200,000.
Q: What is the plan for liquidating the funds?
A: Chen plans to sell $1,000 worth of MIRA every 10 minutes indefinitely, promising to give 24 hours notice if the schedule changes.
Q: What is the role of Vitalik Buterin in this story?
A: Buterin, the co-founder of Ethereum, previously highlighted charity-driven meme coins as a “positive-sum” innovation within the meme coin trend, expressing optimism about their potential to evolve into meaningful projects.
