Author: Nancy, PANews
AI MEME Coin Act I: The AI Prophecy (ACT) has experienced multiple betrayals from the Dev (deployer) and has fallen into a trough, but now it has dramatically ushered in a plot reversal. On November 11, Binance announced the launch of ACT and added a seed label for it, and this news ignited market sentiment, causing ACT to soar more than tenfold in a short period of time, making it one of the dark horses among the low-market-value MEME coins launched by Binance this year.
DEX Screener data shows that as of the time of writing, ACT's intraday high increase reached 1445.4%, and its market value once soared from more than $20 million to a maximum of $300 million, with a trading volume of over $230 million in the past 24 hours.
ACT is one of the MEME coins with a relatively small market value that Binance has launched this year. According to the on-chain analyst @ai_9684 xtpa's report "Binance's Meme Coin Projects Launched by 2024", Binance does not seem to have a rigid market value requirement for the Memecoins it lists, ranging from $15.49 million to $881 million, and the only commonality may be community heat.
Under the super high return rate, according to the on-chain analyst @ai_9684 xtpa's monitoring, the mysterious whale who previously spent 15,140.85 SOL to heavily hold PNUT, FRED, and OPK has an overall position that has a floating profit of $3.97 million. At the same time, according to Lookonchain's monitoring, a certain whale has transferred 14,770 SOL ($3.03 million) from Binance to buy Pnut and ACT, causing the prices of Pnut and ACT to surge.
From story to accident to reversal, ACT is undoubtedly one of the most twisting MEME coins in recent times. Since the previous GOAT surge, AI MEME coins have become the focus of market participation, and various projects are competing for the "second dragon" throne. Among them, ACT, as an infrastructure-type MEME coin, was once considered a strong candidate, and its price has also risen sharply, attracting the attention of a large number of investors.
According to the previous introduction by PANews, Act I is another AI project funded by a16z founder Marc Andreessen, with members including Truth Terminal founder Andy Adyrey. Pleb Capital founder Light disclosed that Act I has features such as unscripted and spontaneous interactions, multi-agent dynamics, continuous and long-term observations, diverse AI participants, and real-world environments. Due to the current isolation of AI Agents, Act I will become an important infrastructure for these projects to interact with humans.
Although the narrative of ACT is attractive, its development path has not been smooth sailing, and the Dev behind it has become the "hidden thunder" in this story.
AMP is one of the developers of the ACT project and once held 6% of the total tokens of the project. However, this developer, with the support of community funding, has repeatedly deceived the community under various pretexts and quietly sold all the tokens in his hands. This breach of trust has greatly damaged the community's trust in him and has had a significant negative impact on the long-term development of ACT. If AMP had not sold the tokens he held, the value of this fund would now be as high as $19 million.
"The reason why everyone condemns amp is not that he should or should not have sold out, but that he has repeatedly deceived the community in the way of selling out. Selling out everything is actually a good thing for ACT, so that the community only needs to focus on the concept of ACT and this decentralized research project, as well as supporting more 'AI+Crypto' projects in the future. And the ACT community is no longer just based on the ACT project, but a kind of 'action' to promote the development of AI in the way of the crypto community," said 0x Wizard, the builder of the ACT Chinese community, when AMP made his last token sale.
However, AMP's selling behavior did not have much impact on the community. Data from the on-chain data platform Holderscan shows that before November 11, the number of ACT holders had reached nearly 15,000, and the number of token-holding addresses has increased by more than 4,000 today.
And 0x Wizard also revealed that ACT is being promoted by a decentralized research group, not just by AMP alone, and whether he is there or not, it will not affect the progress of the project. In addition to AMP, ACT has 5 to 6 other contributors, which will not affect the progress of the project.
Regarding the listing of ACT on Binance, AMP's latest response was, "I have never felt uncomfortable with ACT, but they have been using my brand identity without my permission. I have distributed, destroyed or sold all the ACT tokens I held, and I hope it will not be listed on any centralized exchange (CEX) again. I would be happy to help the ACT community transition to a new brand and can help other community projects build equally outstanding solutions."
It is worth mentioning that AMP also cited his previous tweet in response, saying, "If you want to earn my loyalty, you must earn it through your actions, and I have emphasized many times: I care more about understanding the impact of my work and predicting its possible future than money."
