A memecoin named Goatseus Maximus (GOAT) has witnessed a 490% upshot due to an artificial intelligence (AI) experiment. Within 24-hours, GOAT’s trading volume hit approximately $119 million with a market cap of $259 million. This ascent followed endorsements from Terminal of Truths, an AI from Meta’s Llama 3.1, that didn’t create the token, but amplified its visibility. Although the AI didn’t release its own memecoin, it stirred buzz for GOAT. Terminal of Truths’ creator, Andy Ayrey, said he plans to research how AI-generated memes impact market behaviour.
The Defi Comment:
The memecoin Goatseus Maximus (GOAT) has seen an unexpected 490% surge, owing much of its success to an AI agent from Meta’s called Terminal of Truths. The AI was initially designed as a lighthearted project, but it piqued the interest of venture capitalist Marc Andreessen, resulting in a $50,000 donation in Bitcoin to support its development. Although the AI did not create the GOAT token, it made posts about the possibility of launching its ‘own’ memecoin, which generated significant interest. Ultimately, an independent creator launched the GOAT token, which the AI started promoting after being tagged in a post about the token. Its creator, Andy Ayrey, plans to use the surprising turn of events as a case study on how AI-generated memes can influence market behaviour.
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