30s Summary

A joke trader account named Richard E. Ptardio received 700 million memecoins named after him, initially worth $53,250. The value of these coins then surged 1,765% to nearly $1 million. Ptardio denied any involvement in the creation of the tokens and vowed to donate the funds to charity. The value of his donation eventually amounted to $69,000 due to a drop in token value. The PTARDIO token reached a maximum market cap of $4.75 million before dropping to $258,000. The total memecoin market cap currently stands at $128.2 billion, led by Dogecoin and Shiba Inu.

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A joke account, pretending to be a past trader, gave memecoins named after him to charity. How much did he donate? Well, the tokens he was gifted inflated to almost a million dollars!

The account, which uses the name Richard E. Ptardio, reported that it was given 700 million Richard Ptardio (PTARDIO) tokens on December 17. These were made using the Solana token creator Pump.fun. At the time he was given these tokens, a screenshot shows they were worth around $53,250.

Not long after, Ptardio showed off another screenshot. This time, his PTARDIO holdings had skyrocketed 1,765%. They were worth almost a million dollars now.

Ptardio then made it clear on X that he wasn’t responsible for creating the token. He also stated he wanted to distance himself from the project. “I’m planning on selling my tokens and giving all the money to Save the Children. It’s a way better use for the funds,” he posted.

The token sadly dropped in worth, but Ptardio showed that he still donated 313.4 Solana (SOL), amounting to $69,000, to the charity. The charity supports education, health, and other worldwide projects for kids.

It’s not rare for creators of memecoins to send some tokens to the person that inspired it.

The Ptardio profile seems to be an older dude claiming that he worked for 35 years on trading desks from London to Hong Kong and New York. Then he began to talk on X about the “odd and exciting world” of crypto back in mid-September.

In recent times, Ptardio has been encouraging memecoin investing. He said that its “oddness” leads to real action and that the “market rewards the brave, not the reasonable.”

Not long after being created, PTARDIO soared to a max market cap of around $4.75 million before decreasing to $258,000, according to GeckoTerminal data.

The whole memecoin market cap is presently at $128.2 billion, led by Dogecoin (DOGE) and Shiba Inu (SHIBA) at $57.9 billion and $15.4 billion, according to CoinGecko.