Overview
In 2024, the Meme coin market once again set off a wave of enthusiasm, among which NEIRO and Terminus became the focus, achieving an astonishing 300-fold and 2,000-fold increase respectively from the chain to the exchange listing. This round of enthusiasm not only attracted the attention of investors, but also brought new opportunities and challenges to the crypto market.
Looking back at this round of bull market cycle, only meme runs through the entire cycle, and follows the path of DeFi’s wealth creation and migration on the public chain in the previous bull market cycle. Meme has moved from Solana to Sui, and then to the current Ethereum. Smart money has also migrated on the chain.
Background of Meme Coin
Meme coins are usually projects driven by Internet culture, social media hot spots and communities. Although they lack basic value support in the traditional sense, their potential market popularity and explosive power make it difficult for investors to ignore them. In the past, Dogecoin and Shiba Inu were iconic projects in this field. Their success attracted a large number of retail investors and injected huge liquidity into the Meme coin market.
AI Meme Coin GOAT's Hundred-fold Rise
AI Bot: No one asks, but the world knows about it after its market value exceeds 100 million
In the context of the continuous changes in the crypto market, an unprecedented operation is creating waves - the meme coin $GOAT, which is sent by the AI Bot autonomous conversation, has quickly become popular due to the market frenzy. In just 4 days, the market value of the coin soared to 270 million US dollars, and the price soared 150 times, attracting the attention of many investors and Degen players. The combination of AI and meme coins is becoming a new narrative logic.
Why $GOAT can run out
GOAT, the full name of goatseus maximus, was originally conceived by an AI bot named "Truth Terminal" (@truth_terminal). The developer of this project, @AndyAyrey, revealed on social media that this was not a random idea, but the result of a lot of AI training and exploration. The team behind the project used the Claude-3 Opus AI system to let the bot conduct multiple rounds of deduction and self-talk, and finally decided to issue this unique Meme coin.
The rebellion and innovation of AI narrative
Traditionally, the issuance of Meme coins relies on the leadership of the community, celebrities or project teams, but $GOAT completely leaves this process to the AI system. This "no intervention" model is not only full of topics, but also pushes AI to the forefront and becomes the narrative center of the market.
The spontaneity of AI and the superposition of market sentiment have made $GOAT catch up with the hot trend. To understand the popularity of this coin, we must not only look at the highlights of the project itself, but also analyze the supply and demand relationship and narrative evolution of the crypto market.
Market demand: Degen players waiting for new narratives
The concept of the zoo is becoming increasingly exhausted: animal coins such as DOGE and SHIBA have almost filled the market ecosystem, and players are in urgent need of new stimulation.
Traditional political and celebrity themes are drying up: With the election and changes in social media trends, investors are no longer simply chasing after celebrity effects, but need fresh stories to ignite their passion.
Narrative breakthrough: AI and encryption superimposed on science fiction
The AI narrative behind $GOAT caters to the trend of "technology + finance", making it more elite than a simple funny meme coin. This dual narrative not only attracts ordinary buyers, but also caters to the interests of VC and institutional investors.
Where are our opportunities?
First of all, there are several important factors in choosing
Target selection: To determine whether a meme can become popular and go viral, we must first look at the spreadability of its culture, as well as the initial, core seed users, its early community culture, and its pictures and names must be impressive.
Community activity: An active community is the key to the success of Memecoin. Check the project's social media platforms, such as Twitter, Reddit, and Telegram, to see if there are multiple KOLs shouting orders, and whether the interaction of community members can cause FOMO emotions.
Project background: Research the team and developers behind the project and learn about their experience and background. An experienced and transparent team with a complete white paper and economic model is more likely to move the project forward.
Good narrative: Good narratives are inherently attractive. Breaking the rules and presenting information that goes against people's stereotypes can increase the intrinsic appeal of a meme.
Partners and supporters: Check if the project has well-known partners or supporters, such as public chains, cryptocurrency exchanges, investment funds, or industry influencers. The endorsement of these partners may increase the credibility and attractiveness of the project.
Data tracking: Use on-chain bots to monitor tokens with rapidly growing addresses and active trading volumes. Analyze on-chain data, monitor early addresses or addresses with the largest number of coins, and analyze their buying and selling behaviors. Once a large-scale sell-off is found in early addresses, sell or reduce appropriate positions.
From the performance of GOAT, we can see that AI plus MEME is becoming an important narrative in the future. It is still in its early stages and is likely to go viral. However, the market value of GOAT on the SOL chain is already 270 million US dollars, so the chance is slim. It is very likely that it will go viral from the current SOL chain to public chains such as SUI and ETH. This may be an opportunity.
