Article reproduced from: Nancy

Author: Nancy, PANews

AI MEME coin Act I: The AI Prophecy (ACT) experienced multiple betrayals from the Dev (deployer) and once fell into a trough, but now it has dramatically welcomed a plot reversal. On November 11, Binance announced the listing of ACT and added seed tags for it, igniting market sentiment, leading ACT to surge over tenfold in a short time, making it one of the few low market cap MEME coins launched by Binance this year.

According to DEX Screener data, as of the publication, ACT's intraday maximum increase reached 1445.4%, with its market cap once soaring from over 20 million USD to a maximum of 300 million USD, and the trading volume in the past 24 hours exceeding 230 million USD.

ACT is one of the lower market cap MEME coins launched by Binance this year. According to on-chain analyst @ai_9684xtpa's report (Binance's 2024 Meme coin project review), it seems that Binance does not have a rigid market cap requirement for the listed Memecoins, with values ranging from 15.49 million USD to 881 million USD treated equally, the only commonality possibly being community enthusiasm.

Under the ultra-high return rate, on-chain analyst @ai_9684xtpa monitored that the mysterious giant whale, which previously spent 15,140.85 SOL heavily investing in PNUT, FRED, and OPK, has an overall position floating with a profit of 3.97 million USD. Meanwhile, according to Lookonchain monitoring, a certain whale transferred 14,770 SOL (3.03 million USD) out of Binance to purchase Pnut and ACT, resulting in a significant price surge for Pnut and ACT.

From story to incident to reversal, ACT is undoubtedly one of the most convoluted MEME coins in recent times. After the previous surge of GOAT, AI MEME coins became a focal point for market participants, with various projects vying for the 'Dragon Two' throne. Among them, ACT, as an infrastructure-type MEME coin, was once considered a strong candidate, and its price had significantly increased, attracting a large number of investors' attention.

According to a previous introduction by PANews, Act I is another AI project funded by a16z founder Marc Andreessen, with members including Truth Terminal founder Andy Adyrey. Light, the founder of Pleb Capital, revealed that Act I features include unscripted and spontaneously generated interactions, multi-agent dynamics, sustained and long-term observations, diverse AI participants, and real-world environments. Currently, since AI Agents are isolated, Act I will become an important infrastructure for interaction between these projects and humans.

Although the narrative of ACT is attractive, its development path has not been smooth, with the Dev behind it becoming an 'underlying threat' in this story.

AMP is one of the developers of the ACT project and once held 6% of the total tokens of this project. However, this developer, supported by community funding, has repeatedly deceived the community for various reasons and quietly sold all the tokens in his possession. This breach of trust has greatly damaged the community's faith in him and brought significant negative impact to ACT's long-term development. If AMP had not sold the tokens he held, their value would now exceed 19 million USD.

'The reason everyone is cursing amp is that he has repeatedly deceived the community in his selling methods, rather than whether he should sell. Selling all is a good thing for ACT, allowing the community to focus solely on the philosophy of ACT and this decentralized research project, as well as future support for more 'AI + Crypto' projects. Moreover, the ACT community is no longer just based on the ACT project, but a kind of 'action' to promote the development of AI in a cryptocurrency community way,' said ACT Chinese community builder 0xWizard when amp last sold tokens.

However, the selling behavior of amp did not bring too much impact to the community. On-chain data platform Holderscan shows that before November 11, the number of ACT holders was nearly 15,000, and today the number of holding addresses has increased by over 4,000.

And 0xWizard also revealed that ACT is being advanced by a decentralized research group and is not solely owned by AMP. His presence or absence does not affect the progress of this project. In addition to amp, ACT has 5 to 6 other contributors who will not hinder the project's advancement.

Regarding ACT's listing on Binance, amp himself recently responded, saying, 'I have never felt uncomfortable with ACT, but they have always used my brand identity without my permission. I have distributed, destroyed, or sold all the ACT tokens I held, hoping it won't be listed on any centralized exchanges (CEX) again. I am willing to help the ACT community transition to a new brand and can help other community projects build equally outstanding solutions.'

It is worth mentioning that amp also quoted a previous tweet in response, saying, 'If you want to earn my loyalty, you must win it through action. I have emphasized many times: I value understanding the impact of my work and predicting its possible future more than money.'