Recently hot meme coin Fartcoin is down 17% in the last 24 hours amid news that Andy Ayrey, the creator of the popular AI bot Truth Terminal that inspired the token, helped facilitate the sale of a majority of its Fartcoin (FARTCOIN) holdings in an over-the-counter trade.

Truth Terminal was initially sent 20 million Fartcoin tokens to its original Solana wallet on October 18, 2024 according to data from Solscan, a Solana block explorer—essentially an app that lets users view transactions on the blockchain.

“When Truth Terminal went suddenly and unexpectedly viral back in October thanks to its incessant goatse posting, its wallet became somewhat of a Schelling point for meme coins,” said Ayrey. “People just… kept sending it tokens—for reasons that largely escape me to this day.”

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Author: Logan Hitchcock