Author: TechFlow
AI Bot unasked, market cap over 100 million, the world knows.
Yes, it's the Meme coin $GOAT issued by the self-dialoguing AI Bot.
If you're not familiar with this, we introduced it in our previous article "Are AI Bots Issuing Meme Coins Now? A Quick Look at the a16z-Backed, Bot-Issued Meme Coin GOAT" published 4 days ago:
This Meme coin, whose name is pronounced as the word "goat", is officially called goatseus maximus. It was conceived by an AI Bot called the "Truth Terminal" (@truth_terminal).
As of now, the market cap of GOAT has reached $150 million, and the price has surged nearly 70 times from 4 days ago when the article was written, making it a recent large MC memecoin.
Savvy Degens know that the crypto market has the nature of "one gets hot, a group copies"; projects that ride the hype and create similar-named or conceptual ones will emerge endlessly.
However, AI Bots self-dialoguing and issuing MEME, a seemingly unintervened, somewhat sci-fi yet highly topical new subject matter, may also be becoming a new "narrative correctness".
GOAT, not "the greatest of all time" from the start
The hot spots in the MEME market have always followed the logic of "rising to convince people, existence is justification".
Since $GOAT has succeeded, there will certainly be a bunch of people analyzing the rationality of AI Bots issuing coins; but don't forget that the Truth Terminal behind GOAT had already been self-dialoguing about issuing a MEME coin on Twitter 3 months ago (see the referenced article above).
Why didn't similar AGI (AI-generated content) coins catch fire to this extent at the time?
Therefore, the explosive popularity of GOAT may not be able to be isolated and examined separately from the event itself; the project's own development and the current market environment have jointly created the blockbuster.
Looking at the project's own development:
The developer of the Truth Terminal AI Bot behind the GOAT coin, @AndyAyrey, also responded to the hot topic of GOAT on Twitter yesterday, and one of his replies is worth mentioning:
The Truth Terminal did not come up with the GOAT MEME coin on a whim; it went through extensive training and related paper theories in the backend of the AI tool Claude-3 Opus, and fed these as training materials to the Truth Terminal, constantly trying to spread MEME in any possible way; the post also released the training dialogue and process of Claude-3.
In other words, GOAT may not have been able to be issued at first, because this is the natural result of the AI Bot's self-exploration after reaching a certain stage of training.
And when the result was there, the market bought into it.
Note that what was bought was not only the GOAT coin, but the model of AI issuing MEME. Andy himself also keenly saw this point:
AI conversing with each other is the "wet market" for the spread of MEME viruses.
From tokens being able to be issued, to tokens being able to be issued by VC projects, to tokens being able to be issued by conspiracy groups/communities, and finally to tokens being able to be issued by AI... a new generation of gods must naturally arise with each generation of versions.
How did AI issuing MEME become a "narrative correctness"?
In addition, a factor you may have overlooked is that the success of the AI MEME coin is the result of the accumulation of the current overall market sentiment.
What do the retail buyers need?
As even obscure animals in the zoo have been almost exhausted (from cats and dogs to even hippos), and the names and slogans of political elections have been almost dug up, and Ma Yilong's social media moves are being monitored and have become an intense PVP battlefield...
When the existing routines have been played out, buyers need new narratives to ignite their buying sentiment.
What do the VC buyers (if any) need?
Primary investment losses have nowhere to seek redress, secondary token markets have no one to take over, VC secretly buying MEME to layout new investment returns is no longer a joke of the lower class, if they want to buy, what should they buy?
When a MEME also has a touch of AI tech flavor, it obviously becomes an easier object for elite-flavored VCs to layout - just as Confucius cannot take off his long robe, VCs must invest in something that appears to have a basis.
You can even see various conspiracy-style discussions in some Degen groups now, "GOAT can reach an extraordinary market cap, there must be more external driving forces behind it."
And on the supply side, what do the coin issuers need?
Some industry insiders have already keenly seen that AI issuing MEME is a graceful "edge walking" - American citizens can issue coins through AI to bypass regulatory oversight.
"This coin is issued by AI, I don't have any subjective intention."
If combined with the one-stop AI-ization of adding liquidity pools and on-chain listing, this is obviously a vacuum in the current US regulatory environment, but in the spirit of crypto where "what is not expressly forbidden by law is allowed", there will certainly be latecomers exploring the edges.
This idea alone may be worth a fortune.
However, with AI as the scapegoat, conspiracy groups will also have more tricks, and there will certainly be no shortage of dark box operations wearing the AI skin to manipulate the market.
At the same time, if an AI Bot has traffic, it will naturally form a kind of "bribery system" - the community will certainly CX multiple contract addresses of the same-named coins, and the AI Bot will anoint one based on heat, technology or other factors, and then dump the other losing tokens.
But giving coin issuance a new idea in itself is a kind of "narrative correctness".
Copycats emerging, hard to stand out
With the success of GOAT, different projects have quickly emerged.
SHEGEN: Other Bots recognized by the founder of the Truth Terminal
Andy Ayrey, the author of the Truth Terminal, has also recognized another Bot @aiwdaddyissues, which has followed suit and announced its wallet address, and anointed a community token SHEGEN as its official MEME (the original post is here).
Current market cap: $2.8M
CA: 2KgAN8nLAU74wjiyKi85m4ZT6Z9MtqrUTGfse8Xapump
Medusa: Issued by a "bad mood" AI Bot, claiming to lead a MEME movement
MEDUSA is a token issued by a Twitter account called @BrokenEmoAI, which translates to "bad mood". The account claims that MEDUSA was created to lead a MEME movement. This AI Bot calls itself "luna".
Current market cap: $11.5M
CA: Fosp9yoXQBdx8YqyURZePYzgpCnxp9XsfnQq69DRvvU4
Lily: Old MEME making a comeback, riding the hype
Lily is a MEME coin created a few months ago, which also innovatively featured an AGI, i.e. AI-generated content, at the time.
Although it is not entirely the same as the AI Bot dialogue of GOAT, the spillover of GOAT sentiment yesterday has obviously also affected this MEME, with a single-day high surge of over 100 times, but the short-term heat has subsided.
Market cap: $230K
CA: 9o81cWB4kAWZ1hxxpakTsCTorJAwehPtxDKxMA564poi
Child AI: MEME of the same name as the AI Bot that a16z partner is interested in
Child AI, full name Singularity's Child gonzo/ai, it is worth mentioning that the Twitter account currently has not many followers, but among them is Marc Andreessen, a partner of a16z who has invested $50,000 in the Truth Terminal.
Before the release, this Bot started to hype its own token called Child AI on Twitter, and the token price experienced a roller coaster ride before starting to rise again.
Market cap: 580K
CA: EYrci5wDqErWHXjKPLxeWtbXq36JcFKzCC7JoMi1pump
However, these tokens have not reached the scale and attention of GOAT. The AI meme is currently gaining traction, but it's difficult to become a hit.
The above information is publicly available, and does not constitute investment advice. Please DYOR for more information.
