Most of these SHITCOIN/ MEMECOINS had burned 50% of their supply and worked on a deflationary model to increase their prices. For purpose of burning the supply they chose the address of Vitalik Butterin as which address could be more trustworthy than his? So every coin almost burned 50% of their supply by sending it into Vitalik's Ether Address.
Vitalik Played a masterstroke. For whatever reasons he donated all this supply to the INDIAN CRYPTO COVID RELIEF FUND. The Total Amount of donation at yesterday's price before the crash was around 1 Billion$. Now this supply which was expected to be locked is into the market again and Most probably the fund will realize it soon. Now when this supply would be realized into fiat for actual usage we won't get enough demand at the time of swap or selling as 50% of the supply would be on sale. This means price would go further down or basically rock bottom.
Why these shitcoins developer didn't burn their coin to a proper burning address though, I thought there's this 0x000000000000000000000000000000000000dEaD address that could be properly used when some project want to burn their coin but no, these shitcoins decide to send it to vitalik instead because reasons and now vitalik literlaly dump all the coin through swap platform everyone losing their shit and went ape rage.
If something could go wrong it will go wrong and shitcoin developer sending token worth millions of dollar to vitalik address, they definitely waiting for the dumping.