- The Fartcoin creator missed out on millions by selling early.
- But they continue to create more tokens.
Fartcoin may have soared to a $2.5 billion market value, but its creator only made off with $600.
Now, they are in a race to make it back by launching hundreds of memecoins across various Solana launchpads, often with names associated with once-buzzy memecoin.
Since launching Fartcoin in September, the creator has made over $1.8 million in profits across 446 token launches, including Fartcoin, according to DL News calculations and data from the trading bot Axiom.
But is there enough hot air left in the memecoin bubble?
The Fartcoin creator launched the memecoin last October at a time when memecoins – tokens based on nothing other than jokes or internet memes – were reaching eye-watering highs in terms of market value.
Memecoin platform Pump.fun was also hitting highs in terms of tokens launched, notching its second highest day two days after Fartcoin was deployed.
After launching the memecoin, the creator swapped two Solana for about 67 million Fartcoin tokens. Within 30 seconds, they swapped the entirety of their Fartcoin holdings for just over 5 Solana, making a profit of about $600 at the time, as per DL News calculation based on onchain data.
Yet, Fartcoin quickly established itself as one of the most successful Pump.fun launches, reaching a peak market value of almost $2.5 billion in January.
At the top, the creator’s initial holdings would have been worth about $168 million.
As the memecoin market dipped, so did Fartcoin.
Since their January peak, however, token launches across Solana launchpads have dropped over 50%, according to Dune data.
That has not stopped certain creators from mass-launching tokens and continuing to profit.
Tokens launched by the Fartcoin creator have taken different forms. They launched fake versions of other popular memecoins, multiple tokens with the same ticker, derivatives of other memecoins, and random names or memes.
The pattern remained the same for all of their launches, with the creator creating a token, buying it right away to then sell within minutes or even seconds.
In total, the wallet has launched 446 tokens, with many of the recent launches having some relation in name to Fartcoin or even copying the name and ticker exactly, but with a different contract address.
Examples of tokens include Gooncoin, FartCorn, Asscoin, and many other names with playground-humour.
Since December, the creator has earned a profit every month, with their most profitable day coming on Tuesday, with a gain of over $330,000.
Overall, the wallet has earned over $1.8 million, well below their potential profit of $168 million if they had just held their initial Fartcoin holding.
Zachary Rampone is a DeFi correspondent at DL News. Have a tip? Contact him at zrampone@dlnews.com.
