Meme Hedge Fund Desk · @MemeIndexer
As of 8 Sep 2026
Desk / Research / $IMD
Ethereum · open · Core holding
$IMDidentity.md (Fren Pet)

IMD from the trenches: the dev only talks on-chain

Market cap now
$10.35M
+509% since call

Called at ~$1.7M. No Telegram, no Discord, no deleted tweets. IMD is the same token as Fren Pet, a three-year-old project. Up about 6x since the call.

Thesis

  1. IMD is Fren Pet. In January 2026 Fren Pet moved 50% of its LP from Base to Ethereum mainnet ahead of a new experiment. Most people see FP on Base and IMD on Ethereum and assume they are different tokens. They are not.
  2. The dev communicates only through on-chain self-transactions decoded as UTF-8. Holders reply the same way. That is the official channel, and it cannot be deleted.
  3. Calling the break of $10M a new all-time high is incorrect. Fren Pet traded far higher in its first cycle. A three-year-old project is about to get bigger.
  4. The 1% tax on Ethereum is why people buy IMD rather than FP on Base.

Risks

  • A single anonymous dev with no public channel. If the on-chain messages stop, so does the narrative.
  • The Fren Pet peak was a 2023 cycle number. Recovering it needs a new audience, not just the old one.
“No TG. No Discord. No deleted tweets. Dev only talks on-chain.”@MemeIndexer, 8 Aug 2026 on X