The post The Future of Memecoins with AI: How Truth Terminal Sparked a $150M Phenomenon appeared first on Coinpedia Fintech News
With a twist of irony, a memecoin tagged Goatseus Maximus (GOAT) skyrocketed to a $150M market cap within 4 days, all thanks to an Artificial Intelligence bot Truth Terminal. Though the bot developed and funded by a16z did not launch the meme coin, the public promotion of the same played a great role in the GOATâs growth.
The AI bot Truth Terminal created by venture capitalist Andy Ayrey with technical assistance from a Meta using the companyâs Llama 3.1 language model, used his semi-self-directed X account to promote for the currently popular GOAT token. Nonetheless, the botâs promotion has brought tremendous market attention to the creation of this token.Â
In this case, in a post on X made on October 13, Ayrey explained that the AI bot was made for a âmemetic contagionâ experiment, not for a cryptos promo. Still, the GOATsâ market capitalization skyrocketed from $5,000 to $150 million in 72 hours.
Market Impact Amidst the Meme Coin Surge
Using pump.fun on the Solana network on October 10, GOAT reached its high of $150M on October 14 and is now at $120M. This tokenâs rapid ascent created a buzz in the memecoin space and this made many people wonder about the future performances of the token.
The event is a testimony to the influence AI has in determining the state of focus in the crypto market. Ayrey was also careful to point out that Truth Terminal was never designed to manipulate the crypto market and yet it did so in ways that not only show the risks associated with AI involvement but also the opportunities as well.Â
Some memecoin traders think that is the start of a new memecoin paradigm, in which an AI recommendation could send tokens soaring.
Even if Truth Terminalâs creator was clear that this creation was purely an experiment, it has participated in the creation of a market with GOAT.Â
The event represents a convergence of the development and popularity of AI technology and markets of cryptocurrencies, hence, raising the issue of the function of AI in the further evolution of digital assets.
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