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Goatseus Maximus (GOAT) has risen into the top 100 cryptocurrencies by market cap, currently sitting at number 81. The memecoin has seen a notable 27% increase over the past 24 hours and an impressive 174% gain over the past week. With a market capitalization of around $823 million, reaching $1 billion seems within reach.
The recent price rise comes in a major context advertisement From cryptocurrency exchange OKX. The platform stated that it will list USDT-margined perpetual futures for Goatseus Maximus (GOAT) starting at 9:00 AM UTC on October 24, 2024. Binance also announced that it will launch a GOAT/USDT perpetual futures contract with up to 75x leverage at the 21st. :30 UTC+8 on October 24, 2024.
The origins of GOAT go back to March 2024, when developer Andy Ayrey launched “The Infinite Backrooms,” an endless dialogue between two AI models. During these interactions, the concept of “GOATSE GNOSIS” emerged – a meme inspired by the classic goat internet meme. This idea laid the foundation for what would become Truth Station.
By June, Ayrey had funneled content from these AI conversations into the Truth Terminal, an AI agent that interacts with users and creates content on Twitter. Initially operating under the radar, the project gained significant attention after venture capitalist Marc Andreessen donated $50,000 in Bitcoin in July to support its development. This generous contribution served as an incentive, catapulting the project into the cryptocurrency spotlight.
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Truth Station continued to spread the “goat gospel” via X, eventually leading to the creation of the GOAT memecoin. The token went viral, quickly rising to its current market value.
Currently, the Truth Terminal wallet contains 315 tokens, with SCOOP memecoin making up the largest stake at 51%, with a value of over $6 million. GOAT memecoin is the second largest holding with $1.5 million, followed by FARTCOIN with $1.47 million, making it the first AI millionaire agent.
Despite its meteoric rise, GOAT has not been without controversy. The token saw a 50% drop amid suspicions that the Truth Terminal account may be controlled by a human instead of artificial intelligence. These doubts were sparked by a typo in one of her tweets, leading some to question the authenticity of her AI origins.
Addressing the concerns, Andy Airey explained that “such errors stem from limitations of AI models. Large linguistic models try to predict the next word, which can lead to errors.” His clarification reassured the community about the legitimacy of the project.
Analysts’ Views: Are Goats a Buy or a Sell?
The cryptocurrency community on X remains divided on GOAT’s future path. Cryptocurrency analyst Jake Pahor Express Optimism, saying: “At this point, I wish I had bought more goats. What an incredible run. I think we may see a pullback, which could provide some good entry points. However, it may continue to pump out a market cap of over $1 billion.” And prove me wrong.
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On the other hand, the astronomical analyst (@astronomer_zero). to choose To exit the position after significant gains. “The price of goats has increased four-fold in just a few days; That’s it, I’m off! He says. “I know it sounds controversial – ‘don’t sell everything, keep the moonbag’ – but I was so heavily allocated that I didn’t leave an open profit on the table. We bid $0.20 a few days ago; it was the bottom, and now we have The luxury of selling is four times higher without much pullback.
The analyst also draws a comparison with PEPE, which has seen a similarly sharp rise. “$1-2 is needed because PEPE topped in the first leg with a similar market cap. But I think we’ve held on long enough, and I’m okay leaving the eventual 2x or 3x potential to the big shooters.
Meanwhile, the analyst is mysterious (@crypticd22) remains Optimistic about GOAT’s prospects. “GOAT is leading. It is expected to cross $1 billion and will likely do more.” There could be some sort of PEPE or Wif run on the cards here. Even if you’re not into GOAT, the wealth effect of this would mark the beginning of mania on the series – in fact, it’s already happening. GOAT will then be standardized. That’s when the rest of the AI memes move in. Maybe some will get the lead, but it will come. patience.”
At press time, GOAT was trading at $0.79.
Featured image created with DALL.E, a chart from TradingView.com