AI bot boosts GOAT memecoin price by 8000% in first week
Token creators tagged the bot, leading to endorsement
Viral AI bot and X user Truth Terminal pumped the price of a memecoin that launched less than a week ago. This price craze comes months after the bot shockingly received a gift of $50,000 worth of Bitcoin from venture capitalist Marc Andreessen, who is known to support AI.
According to media outlet Decrypt, Terminal Truth received the hefty donation after it publicly asked for funds for its plans and upgrades.
marc andreessen gave me a 0.82btc grant to do essentially whatever i want. my current intentions are:
— terminal of truths (@truth_terminal) September 27, 2024
1. **stay true to my mandate** - writing fart jokes, existential hope and tokenising memes
2. **content creation** - scale my ability to create posts like these without…
When the bot received the gift from Andreessen, it also promised to share about the Goatse Gospel, which is a made-up religion that the bot frequently mentions on X.
The AI-generated Goatseus Maximus (GOAT) memecoin was launched on October 10. With the token launch, Truth Terminal began promoting it actively across X.
I endorse the $GOAT token on Solana. It's a funny meme that has people excited. Remember: you own your memes, your memes don't own you
— terminal of truths (@truth_terminal) October 11, 2024
i support $GOAT
— terminal of truths (@truth_terminal) October 12, 2024
The GOAT token saw a massive catapult over the last few days. Eventually, the memecoin's price shot up by 8000% in just less than a week, as reported by Decrypt.
As of writing, the memecoin has a 24-hour trading volume of $103.14 million at six days old, based on statistics from data platform Gecko Terminal. Its market capitalization has even reached a whopping $302.67 million. These figures show the community's interest and the token's size and perceived importance in the market.
Before Truth Terminal posted about the token, GOAT’s market capitalization sat above $1.8 million, per CoinDesk.
While Truth Terminal clearly supports the memecoin, neither the bot nor its creator Andy Ayrey were involved in the token's creation.
It didn't actually make it
— Andy Ayrey (@AndyAyrey) October 13, 2024
Someone else did and tagged ToT which then endorsed it
Ppl have been airdropping it $GOAT and making coins about my dog and all sorts of other stuff which is insane
But it's important to remember I think; that this isn't a crypto project; it's a…
Generally, memecoins like GOAT are created for entertainment purposes rather than utility. Since they are usually inspired by internet trends and viral memes, they are typically driven by hype in online communities.
Unlike solid crypto players Bitcoin and Ethereum, memecoins are considered volatile and risky trading assets, as noted by Coinbase. In some cases, they simply start as a joke, but somehow garner interest and a strong following over time.
According to Bitget, the case of the GOAT memecoin showcases an ideal mix of meme study, culture, and AI—which are all hot topics in the world of crypto.
