Originally published on: October 14, 2024
A recent memecoin known as Goatseus Maximus (GOAT) experienced a rapid surge in value, reaching $150 million in less than four days. Rumors circulated that an artificial intelligence bot called “Truth Terminal,” backed by Andreesen Horrowitz, was behind the launch of the token.
However, the creator of the AI bot, Andy Ayrey, clarified that while the bot did not create the GOAT token, it did play a role in promoting it. This promotion by the AI bot contributed significantly to the remarkable rally that propelled GOAT to nearly $150 million in market capitalization on October 14, according to Birdeyedata.
Ayrey emphasized that Truth Terminal is not a crypto project but rather a study in memetic contagion and exploring the risks associated with unmonitored idea generation in the era of large language models.
Despite a slight dip from its peak, GOAT currently boasts a market cap of $122 million. The memecoin saw an unprecedented surge from $5,000 to over $150 million in less than 72 hours following its launch on the popular Solana memecoin deployer pump.fun on October 10.
Furthermore, Truth Terminal, an AI bot that operates with minimal human intervention, also launched another memecoin named “Gospodin” after its AI-generated fictional pet. The bot’s connections to a16z, along with its proficient ability to create engaging content, have attracted attention from memecoin enthusiasts.
Speculators in the memecoin community believe that GOAT’s unique characteristics could set a new standard for memecoins in the upcoming weeks. Maison Ghost, a pseudonymous user on X with a sizable following, pointed out the bot’s potential association with a16z and its talent for crafting compelling content as factors that could drive GOAT’s value even higher.
In conclusion, while the AI bot did not create the GOAT token, its effective promotion and endorsement have significantly impacted the memecoin’s success in the crypto market. Stay tuned for more updates on this evolving story.
