The return of sbfonchain.sol, a notorious meme token trader, to the buying market has sparked considerable interest, particularly as the wallet’s latest acquisition is FARTCOIN, a meme token developed by an artificial intelligence (AI) agent. The wallet, which has a reputation for high-risk trades, has been inactive since November 27, marking a significant moment in the meme coin market.
FARTCOIN, a unique amalgamation of memes and AI technology, has achieved cult status in recent weeks, boasting a succession of record highs. The sbfonchain.sol wallet purchased 3.25M FARTCOIN over the past 24 hours, spending 19,103 SOL at an average cost of $1.17 per token. Following the purchase, the token remained dormant for several hours.
Despite the substantial purchase, it pales in comparison to previous whale inflows; on December 19, a whale bought $43.77M worth of FARTCOIN just as the token approached its all-time high. Nevertheless, the sbfonchain.sol wallet’s activity has generated considerable intrigue as it reenters the meme token marketplace.
Previously, the wallet holder has been known to invest large amounts in trending tokens, such as Moodeng (MOODENG) and Chillguy (CHILLGUY), before quickly making a profit or cutting losses within hours. This approach was evident with a previous $1.44M investment in FARTCOIN, which was subsequently flipped.
The recent FARTCOIN acquisition followed a similar pattern, with the wallet investing in the meme token just as it dipped from $1.27 to $0.94. While sbfonchain.sol’s holdings are not listed among the top 150 addresses, the wallet’s public profile has drawn attention to FARTCOIN and potential buying opportunities.
However, the purchase led to a brief loss for the wallet, with the value of holdings dropping from $3.2M to $3.097M. Previous losses have not deterred the wallet holder from continuing risky trades, even if it means liquidating all reserves, as seen with the MANYU token.
Since first appearing in May, the sbfonchain.sol wallet has garnered attention for its movement between meme tokens and its distinctive name. However, no evidence has been presented to suggest the wallet belongs to Sam Bankman-Fried, founder of the now-defunct FTX exchange.
The sbfonchain.sol’s acquisition of FARTCOIN coincided with the token’s expansion into new trading hubs. Initially a light-hearted asset akin to other AI-generated tokens like GOAT, FARTCOIN has grown in popularity and is now held in over 51K wallets. It also became a community-owned token, leading all Solana projects in terms of unique addresses and wallets.
The token was listed on KuCoin a day before sbfonchain.sol’s purchase and added to the dy/dx futures market a week prior. Trading of FARTCOIN on OKX’s perpetual futures market began at 4 AM UTC on December 20. Despite a slowdown in the overall meme market, FARTCOIN continues to rally, recently surpassing a $1B market cap, outpacing GOAT and nearly rivaling the AI16Z token. Its unique blend of meme culture and AI technology continues to generate significant buyer interest.
