- The GOAT meme coin, released on the Solana blockchain by user EZX7c1, reached a market cap of 400 million yen (about $400 million) in just one week.
- The rapid increase in value was significantly influenced by the AI bot “Terminal of Truth,” which sparked a massive trading frenzy and community interest.
The cryptocurrency landscape has once again been disrupted, this time by a newly issued meme coin named GOAT, which has taken the market by storm by achieving a market capitalization of 400 million yen (roughly $400 million) in just a week. This impressive feat places GOAT as the seventh-ranked meme coin on the Solana blockchain, with a trading volume over the last 24 hours hitting about 150 million USD (22.4 billion yen).
The Phenomenal Rise of GOAT
Introduced only eight days ago on the meme coin issuance platform Pump.fun by a user identified as EZX7c1, GOAT’s explosive entry into the market is not just a tale of high numbers but also of the high-tech intricacies involving artificial intelligence that powered its ascent. Early adopters of the coin have seen astronomical returns, with one trader turning an investment of 5 SOL into 15,883 SOL in five days—a 335,526% gain. Another trader’s investment of $5,521 ballooned into $1.5 million within 48 hours, marking a 17,500% profit.
These stories of massive gains are not just anomalies but are a testament to the significant influence AI bots have wielded on the rapid price increase of this token. At the core of this phenomenon is the AI bot known as “Terminal of Truth” (ToT). This bot is an enhanced version of the Llama 3.1 language model developed by Meta, tailored specifically to engage with internet subcultures and generate AI-driven memes, leveraging data from platforms like Reddit and 4chan.
Artificial Intelligence at Play
Developed by Andy Ayrey, ToT was intended to stir discussions on AI-generated belief systems and integrate subcultural content from the internet. Despite its often vulgar and rambling statements, ToT has managed to capture significant attention on social media platforms, fostering a niche community that avidly follows its updates.
ToT’s influence peaked when it humorously posted about creating a new goat species called “Goatseus Maximus,” aligning with the prophecy of an ancient meme. This statement alone catalyzed an airdrop offer of GOAT tokens to ToT if it provided a wallet address, which ToT embraced, advocating further to push the boundaries by creating a “Goatse Metaverse.”
This endorsement by ToT led to a surge in the GOAT token’s value and continued to recommend the token actively, proving the immense impact and potential of AI in shaping cryptocurrency markets. Through these developments, GOAT not only exemplifies the volatility and speculative nature inherent in the meme coin sector but also highlights the emergent role of artificial intelligence in financial markets, driving interest, investments, and community engagement in unprecedented ways.