What is the Ethereum Meme that Tom Lee is so focused on?

In August 2025, two heavyweights in the Ethereum ecosystem were almost simultaneously caught up in a memecoin narrative. On one side was Tom Lee, CEO of BitMine Immersion Technologies, which holds the world's largest Ethereum corporate treasury. On the other side was Joseph Lubin, CEO of ConsenSys and Ethereum co-founder, also serving as the Chairman of SharpLink Gaming, whose listed company holds the top two institutional Ethereum positions, with over $10 billion in Ethereum value.

The voices of these two industry leaders not only demonstrated institutional recognition of Ethereum's long-term value but also brought new attention to associated memecoins. On social media, some investors noticed that Tom Lee and Lubin successively followed the memecoin project Book of Ethereum (BOOE).

Fueled by market sentiment, BOOE quickly became the center of discussion. This article will delve into the concept, history, and related projects of this established project BOOE, while also uncovering the whale fbb4 who is behind the token's manipulation.

Concept and History of BOOE: Religious Narrative and Community Economy

BOOE was launched on the Ethereum mainnet on April 24, 2024, and the project was framed by its team as the "Bible" of the Ethereum ecosystem. The official website constructed a virtual universe using religious symbolism, listing "commandments" such as banning the purchase of Bitcoin and shorting BOOE, emphasizing loyalty and community self-awareness. Additionally, the website's section on "Divine Economics" states that BOOE has a total supply of 100 million, the contract has been audited and control has been permanently renounced, all liquidity is locked for 1337 years without any transaction fees. This economic model makes it harder for holders to withdraw, reinforcing the symbol of long-term faith.

Aligned with the religious narrative is the community culture development. An article on Medium authored by the BOOE team describes holders as "believers," claiming that this book of Ethereum is a refuge for the deceived and encourages investors to gather in bear markets and wait together for an "opportunity." While the article has clear promotional undertones, it reflects the project's attempt to unify the community through religious language and mitigate speculative aspects.

During the development of BOOE, the team introduced two additional partner tokens, HOPE and PROPHET. HOPE's website displays a total coin supply of 1 billion, with the contract being renounced and audited, and team members going by the aliases Shiba Prophet, Lord NPC, and Saint Vitalik. The project's mission is to "bring hope," encouraging collaboration among different memecoin communities such as Pepe and Doge. The other token, PROPHET, also has a total supply of 1 billion, with the official promise of permanent liquidity locking and no transaction tax. The BOOE website refers to these three tokens collectively as the "Trinity of Belief," aiming to expand community boundaries through this trinity structure.

Aside from building a story universe, the BOOE community has also delved into the NFT space. There exists a collection on OpenSea called Booelievers, which includes art pieces and derivatives related to the BOOE theme. Although the scale of these assets is limited, they provide the project with additional cultural symbols and revenue streams.

Overall, BOOE has constructed a unique community economic model by utilizing a religious narrative and decentralized finance concepts. In the midst of the widespread Solana Meme craze, the continuity and diffusion capability of this narrative have become key factors in whether the project can maintain its vitality, with a key figure behind it being the well-known "Diamond Hands" fbb4 from the E-Guard.

The Mastermind Behind BOOE, fbb4

Since the launch of BOOE, the movements of the anonymous whale fbb4 have been closely watched. As one of Ethereum's most prominent "lighthouse" figures in the Meme world, his previous successes with targets such as Pepecoin and GME have significantly boosted his reputation.

fbb4's trading style stands in sharp contrast to the current crop of P-Gen traders. Media personality Brian Fanzo's analysis points out that fbb4's wallet is valued between $28 million and $40 million, with a profit of around $9 million recorded in just one month. Overall, fbb4's trading pattern is straightforward and aggressive, summarized as "buy, provide liquidity, hold, and shift the narrative while maintaining the order book," often starting by transferring funds from centralized exchanges to ETH or through multiple cross-chain transfers before gradually purchasing the target coin to reduce slippage; subsequently, providing liquidity to stabilize the price; and finally, rotating investments based on narrative heat.

One of the most notable things about him is that he almost never sells the tokens he purchases during trading. Of course, this does not rule out the possibility that he may have other wallets for selling smaller amounts, but this publicly transparent long-term holding strategy still attracts many retail investors to imitate his behavior. Often, whenever his public wallet "fbb4" makes a purchase, it is followed by a "green candlestick" indicating a price increase.

fbb4 has been continuously buying since the launch of BOOE

This trading style has led people to compare him to Michael Saylor and the leader of the GameStop retail investors versus Wall Street short squeeze battle, Roaring Kitty. Community member Roar4Kitty even compared the action lines of the two, expressing his suspicion that fbb4 is indeed Roaring Kitty.

fbb4 vs Roaring Kitty significant events action lines, source: Roar4Kitty

Of course, this is not unfounded, as fbb4 does indeed have a significant loyalty to GameStop. According to the New York Post, in August of this year, to support GameStop culture, he spent $250,000 in an auction to purchase a stapler and the GameStop CEO's underwear. A few days later, he tweeted announcing another $100,000 purchase of GameStop and in the same post announced a partnership with the charity CMNHospitals, also donating $100,000 to raise funds for 170 children's hospitals in the United States and Canada.

GME "stapler" and CEO underwear purchased by fbb4, source: New York Post

Fanzo's article also documented fbb4's positions in multiple memecoins, including Pepecoin, the Ethereum version of the GameStop token $GME, BasedAI, KEK, BOOE, KPOP, and others. These projects share a common trait of clear narratives, active communities, and sufficient liquidity. fbb4 is known as a "narrative curator," driving narrative hype by personally writing posts and engaging with the community.

The success of fbb4 also has its limitations. His strategy heavily relies on personal reputation and community sentiment. Once the narrative loses momentum or if he changes his strategy, it could potentially lead to investors being trapped. Moreover, by playing the role of a market shiller in multiple projects, he easily sparks discussions of price manipulation. From a regulatory perspective, a whale-like holder engaging in concentrated trading activities in an unregulated environment may cross the line into market manipulation territory. For BOOE, fbb4's involvement has undoubtedly brought in funds and attention, but whether it can translate into sustained growth remains to be seen.

For investors, understanding fbb4's strategy and institutional trends is important, but more crucial is the ability to discern the true value and risks behind the narrative. As Lubin puts it, the long-term value of Ethereum is undeniable, but one must also be cautious of the meme coin's bubble cycles and regulatory risks. Between belief and bubble, rational judgment is the key to navigating through market noise.