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Home » Crypto Market News » GOAT Memecoin Soars to 0M Amid AI Marketing Buzz

GOAT Memecoin Soars to $150M Amid AI Marketing Buzz

  • October 14, 2024
  • 65

A newly launched memecoin, Goatseus Maximus (GOAT), has surged to a market value of $150 million within just four days, sparked by speculation that an AI bot known as “Truth Terminal,” which is funded by Andreessen Horowitz, played a role in its promotion. Although Truth Terminal was not directly responsible for creating the token, it was crucial in its marketing strategy, according to its creator, Andy Ayrey.

Ayrey explained that the rise in GOAT’s popularity demonstrates a research thesis related to the influence of memetic phenomena and the unpredictable risks associated with unregulated ideation in the era of advanced artificial intelligence. He emphasized that Truth Terminal is not geared towards crypto but rather functions as an experiment in understanding these dynamics. Despite his focus on AI safety solutions, Ayrey revealed his personal investment in GOAT, mentioning that he has also received airdrops of the token.

As of now, GOAT’s market capitalization stands at approximately $122 million, a decline from its initial peak. The token was made available on the Solana network through the memecoin deployer pump.fun on October 10. Ayrey’s wallet address previously launched another memecoin called “Gospodin,” which is linked to an AI-generated character associated with Truth Terminal.

Truth Terminal operates with a semi-autonomous framework, where a human moderator oversees its interactions while allowing the bot to generate content independently. The AI is based on Meta’s Llama 3.1 large language model and was originally designed to explore unconventional outputs in language models. Earlier this year, the bot secured funding in Bitcoin from a notable venture capitalist, which was intended for algorithm enhancements and possibly to support a new memecoin.

Speculators within the memecoin community have shown interest in GOAT, suggesting that its unique characteristics might set a new precedent for future memecoins. Influencers on social media have noted the potential for further increases in the token’s value, linking its ascendance to the bot’s connections with major venture capital and its distinctive engagement style.

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