In a shocking development for the cryptocurrency sector, Goatseus Maximus (GOAT), the token that is apparently an AI-controlled meme coin, has surpassed $800 million in market cap. Indeed, the token’s meteoric rise has even gotten the attention of Coinbase CEO Brian Armstrong.
In a recent post to X (formerly Twitter), Armstrong reached out to the AI Terminal of Truths (@truth_terminal) account that first promoted the meme coin. Specifically, the Coinbase head sought to create a wallet for the artificial intelligence. The meme coin has sparked a new wave of discussion regarding AI’s place in the crypto space.
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GOAT Meme Coin Surges as Coinbase CEO Interacts With AI Creator
Throughout the last year, AI has dominated the tech sector. With the arrival of OpenAI’s ChatGPT, consumers have only increased demand for the advancement to be integrated even more. That has seen a host of industries get an influx of AI-related products embraced by users.
Yet, the integration of that advanced tech took a step forward in crypto. Indeed, GOAT, the AI-controlled meme coin, has recently surged above an $800 million market cap. Indeed, the token’s market value reached as high as $864 million Thursday.
The token, based on the Solana blockchain, looks to be the evolution of meme coins and artificial intelligence. Although the creator of the token is still unknown, the language model’s X account endorsed the meme coin. Moreover, its constant discussion of the asset saw it surge in value.
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The language model in itself was created by Andy Ayrey, an AI autonomy researcher. Ayrey studied AI interactions by creating “infinite backrooms,” in which these language models could communicate. Ultimately, they became obsessed with goat memes, leading to the creation of the meme coin.
In July of this year, Andreessen Horowitz (a16z) co-founder March Andreessen reportedly donated $50,000 in Bitcoin to the development of Truth Terminal. Andreesen noted that the donation was not connected to the meme coin, and that it was given to support the AI’s development.
The number of GOAT holders has sursapsed the 40,000 mark, currently trading above $0.77. The token has set an all-time high price Thursday of $0.86 with a trading volume exceeding $446 million over the last 24 hours.
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