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Goatseus Maximus (GOAT) has climbed into the top 100 cryptocurrencies by market capitalization, currently ranking 81st. Memecoin has seen a remarkable escalate of 27% in the last 24 hours and an impressive escalate of 174% in the last week. With a market capitalization of around $823 million, the $1 billion milestone seems within reach.
The recent price escalate is among the majors announcement from the OKX cryptocurrency exchange. The platform stated that it will list USDT margined perpetual futures contracts on Goatseus Maximus (GOAT) starting at 9:00 a.m. UTC on October 24, 2024. Binance also announced that it will launch a GOAT/USDT perpetual contract with leverage up to 75x at 21:30 UTC+8, October 24, 2024.
GOAT’s origins date back to March 2024, when programmer Andy Ayrey launched “The Infinite Backrooms”, an endless dialogue between two artificial intelligence models. During these interactions, the concept of “GOATSE GNOSIS” emerged – a meme inspired by the classic internet meme about goats. This idea laid the foundation for what would become the Truth Terminal.
By June, Ayrey had transformed AI conversation content into Truth Terminal, an AI agent that interacts with users and generates content on Twitter. Initially operating discreetly, the project gained significant attention after venture capitalist Marc Andreessen donated $50,000 in Bitcoin to support its development in July. This generous contribution acted as a catalyst, catapulting the project into the cryptocurrency spotlight.
Truth Terminal continued to spread the “Goat Gospel” on X, which ultimately led to the creation of the GOAT memecoin. The token went viral, quickly reaching its current market capitalization.
Currently, the Truth Terminal wallet contains 315 tokens, of which the largest share is memecoin SCOOP – 51%, worth over $6 million. Memecoin GOAT is the second-largest holding at $1.5 million, followed by FARTCOIN at $1.47 million, making it the first millionaire AI agent.
Despite its rapid rise, GOAT has not been without controversy. The token’s value dropped by 50% amid suspicions that the Truth Terminal account may be controlled by a human, rather than artificial intelligence. These doubts were sparked by a typo in one of the tweets, which led some to question the authenticity of the artificial intelligence’s origins.
Addressing the concerns, Andy Ayrey explained: “Errors like this are due to limitations of AI models. Large language models try to predict the next word, which can result in errors. His explanation assured the community of the project’s validity.
Analyst Outlook: Is GOAT a Buy or a Sell?
The crypto community on X remains divided on GOAT’s future trajectory. Crypto analyst Jake Pahor expressed optimism, stating, “At this point, I regret not buying more of GOAT. What an amazing run. I believe we may see a pullback which could provide some good entry points. However, it could continue to grow to a market capitalization of over a billion dollars, which will prove me wrong.”
On the other hand, Analyst Astronomer (@astronomer_zero) does chosen exit your position after significant profits. “GOAT quadrupled in a matter of days; That’s it, I’m leaving!” – he notes. “I know it sounds controversial – ‘don’t sell everything, keep the moonbag’ – but I was too heavily committed to leave an open profit on the table. A few days ago we bid $0.20; that was the low point, and now we have the luxury of selling at four times the price without any major losses.”
The analyst also makes a comparison with PEPE, which has seen similar explosive growth. “I needed $1-2 because PEPE had peaked in the first stage at a comparable market cap. However, I think we’ve lasted long enough and I don’t mind leaving the final 2x or 3x potential to the best snipers.
Meanwhile, mystery analyst (@crypticd22) remains bullish on GOAT prospects. “GOAT is leading. It will exceed $1 billion and will probably bring in more,” he predicts. “A PEPE or Wif type run could be an option. Even if you’re not in GOAT, the wealth effect will mark the beginning of chain mania – in fact, it has already happened. GOAT will then consolidate. That’s where the rest of the AI memes come into play. Maybe some will come out ahead, but it will happen. Patience.”
At the time of publication, GOAT was trading at $0.79.
Featured image created with DALL.E, chart from TradingView.com
