As a seasoned researcher with over two decades of experience in the field, I’ve seen my fair share of market phenomena that defy conventional wisdom and logic. The meteoric rise of Goatseus Maximus (GOAT) is one such example that has piqued my curiosity and intrigued me to no end.
Goatseus Maximus (GOAT) has climbed into the top 100 digital currencies based on market value, currently occupying the 81st spot. In the past day, this meme-based coin has seen a significant spike of 27%, and over the last week, it’s skyrocketed by an astonishing 174%. With its market valuation hovering around $823 million, it seems that reaching the $1 billion mark is not far off.
The price increase for Goatseus Maximus (GOAT) is happening now, following significant news from crypto exchange OKX. They announced that they will start listing USDT-margined perpetual futures for GOAT at 9:00 am UTC on October 24, 2024. Additionally, Binance has declared their intention to introduce a GOAT/USDT perpetual contract with up to 75x leverage at 21:30 UTC+8 on the same day, October 24, 2024.
The roots of GOAT can be traced to March 2024, when developer Andy Ayrey introduced “The Infinite Backrooms,” a continuous conversation between two AI systems he created. Within these discussions, the notion of “GOATSE GNOSIS” surfaced—a concept stemming from the popular internet goats meme and serving as inspiration. This idea formed the basis for what eventually evolved into the Truth Terminal.
By June, Ayrey had reworked AI chat interactions into Truth Terminal, an AI entity that communicates with users and tweets content. At first, it was running under the cover, but after venture capitalist Marc Andreessen donated $50,000 in Bitcoin in July for its advancement, the project started garnering considerable attention. This generous donation served as a spark, pushing the project into the limelight of the crypto world.
In X, The Truth Terminal spread the “Goatse Gospel,” a concept that later gave birth to the popular meme-based cryptocurrency known as GOAT. This digital token swiftly gained traction, soaring in popularity and reaching its present market value.
At present, the Truth Terminal digital wallet contains approximately 315 tokens. The SCOOP memecoin represents the largest portion, accounting for about 51% and valued above 6 million dollars. GOAT memecoin is the second-largest investment, worth around 1.5 million dollars, while FARTCOIN follows closely behind with a value of nearly 1.47 million dollars, thus qualifying it as the first millionaire AI agent in terms of this wallet’s holdings.
As a crypto investor, I’ve been riding the wave with GOAT, a coin that’s been soaring at an unprecedented pace. However, it hasn’t been all smooth sailing. The token took a 50% plunge, stirred by speculations that the Truth Terminal account, its mouthpiece, might not be entirely automated but potentially managed by a human instead. This suspicion was ignited by a typo in one of its tweets, causing some to cast doubts on its AI roots.
In response to the raised questions, Andy Ayrey clarified that these issues arise because AI models have certain limitations. These advanced language models aim to guess the next word, which sometimes leads to errors. This explanation helped ease concerns within the community regarding the validity of the project.
Analyst Perspectives: Is GOAT A Buy Or Sell?
The crypto community on X remains divided on GOAT’s future trajectory. Crypto analyst Jake Pahor expressed optimism, stating, “At this point, I wish I’d bought more GOAT. What an incredible run. I believe we might see a pullback, which could offer some nice entry points. However, it might just continue pumping to a $1 billion+ market cap and prove me wrong.”
Instead of holding onto his position, analyst Astronomer (@astronomer_zero) decided to cash out following substantial profits. In his words, “GOAT has quadrupled in just a few days; that’s it, I’m done!” He acknowledges that his decision may appear unconventional – ‘don’t sell everything, keep some for the moon’ – but he felt it was necessary to secure the substantial open profit. They had bought at $0.20 a few days ago; many thought it was the bottom, and now they can sell four times more without experiencing much loss.
The analyst similarly references PEPE‘s dramatic increase, stating, “I believe it was worth $1-$2 due to PEPE reaching its initial peak at a comparable market value. However, in my opinion, we’ve held on long enough, and I am comfortable allowing the remaining potential 2x or 3x to be captured by skilled investors.
Analyst @crypticd22 continues to be optimistic about GOAT’s potential. He anticipates that GOAT will surpass $1 billion and potentially achieve even more. There could be a surge similar to PEPE or Wif, he suggests. Even if you don’t currently hold GOAT, the impact of its growth might trigger a wave of on-chain frenzy – it’s already started doing so. After consolidating, GOAT is expected to pave the way for other AI meme coins. Although some may be front-run, this trend will eventually emerge. Patience is advised.
At press time, GOAT traded at $0.79.
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2024-10-24 22:17