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In another great story from the cryptocurrency market, one investor made an amazing 3,360% return, turning an initial investment of $86,000 into around $3.9 million. This exceptional gain was made by investing in the Memecoin Goatseus Maximus (GOAT).
According to A a report Through on-chain analysis firm Lookonchain, the investor allocated 603 SOL ($86,000) to purchase 10.7 million GOAT tokens six days ago. At its peak, this investment rose to $3.75 million. During the last eight hours, the investor liquidated 0.7 million GOAT tokens, converting them back into 1,453 SOL ($222,000), thus keeping 10 million GOAT tokens worth approximately $2.74 million.
Additionally, the trader invested $182,000 in 7.3 million BILLY tokens, which he sold four months later for $593,000, achieving a return of 226%. Thus, the anonymous cryptocurrency investor made a staggering profit of $3.291 million in both trades.
He created a sensation in the cryptocurrency Memecoin
The memecoin GOAT has received a lot of attention within the cryptocurrency community. Initially conceived by an anonymous developer using Solana’s memecoin generating app, Pump Fun, GOAT was not the direct creation of Andy Aireythe developer behind the AI bot Truth Terminal. However, the impact of artificial intelligence has played a pivotal role in its spread.
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Andy Airey, a digital innovator, developed Truth Terminal as an experiment in engineering memes rather than creating cryptocurrencies. Trained on Meta’s Llama 3.1 model, Truth Terminal engaged in extensive dialogue across platforms such as
These interactions inadvertently inspired the creation of the GOAT memecoin, which launched on October 13 and quickly skyrocketed to a market cap of $360 million within four days. As of the latest data, GOAT’s market capitalization has fallen slightly to just over $335 million, with the token trading at around $0.33.
Andy Airey acknowledged the unexpected success of GOAT, saying: “This is not a cryptocurrency project; it is a study in the contagion of memes and the dangers of generating endless, uncensored ideas in the age of the MBA.” He further explained: “The launch of memecoin This validates the thesis I am building an AI alignment and safety company around; Which is where the bulk of my skin in the game lies.
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Marc Andreessen, co-founder of Andreessen Horowitz, initially provided a $50,000 Bitcoin grant to Truth Terminal to conduct independent research in the field of artificial intelligence. Amid the GOAT icon boom, Andreessen He explained Not participating in memecoin: “To be clear, I sent an unconditional, unconditional $50,000 personal research grant to Truth Terminal and its creator Andy Airey this summer (…). However, I have nothing to do with GOAT memecoin. I did not participate in its creation, I play no role in it, I have no economy in it, and I do not own any of it.”
GOAT’s rapid rise and subsequent stabilization highlights the continuing desire among cryptocurrency traders for high-risk, high-reward memecoins rather than the underlying utility. Truth Terminal’s role as a catalyst in GOAT’s success exemplifies the profound impact that AI-driven narratives can have on digital asset valuations.
At press time, GOAT was trading at $0.3520.
Featured image from iStock, chart from TradingView.com