Bitcoins
- Australian social media commentator and crypto analyst Miles Deutscher has released his latest video, interrogating the newest altcoin trend on the market.
- Last week saw the unveiling of “Goatseus Maximus” an AI-driven meme coin managed by the social media language-learning model Truth Terminal.
- Goat has soared 150% since its release, suggesting a retail and institutional interest in the novel asset class.
If you’re anything like me, you’ve sat on Coinmarketcap for the best part of the weekend constantly hitting “F5”, in the hope we see Bitcoin break the US $70k (AU $104k) barrier and steam toward a new all-time high.
But even as Bitcoin draws most of the attention, there’s no greater sign of positive sentiment returning to the markets than meme coin performance.
And oh man, are meme coins performing.
In the last week alone, Dogecoin has exploded by 32%, Pepe by 12% and Bonk by 19%.
The good news doesn’t end there, as according to Aussie analyst Miles Deutscher, the bull run is just beginning.
Related: Miles Deutscher Reveals His Top Altcoin Pics for This Bull Run
Meet Goat: The AI-Powered Meme Coin Obsessed With Sex and Goatse
By now, we know how traditional meme coins operate. They are super high supply, low value and function best as a cheap and efficient way to tip content creators online. The success of a meme coin usually relies on the underlying character or concept – so the Shiba Inu “doge”, for example.
But what if we combined the random chaos of meme coins with…the random chaos of artificial intelligence?
That’s exactly what the AI language learning model, Truth Terminal, has done.
Truth Terminal is essentially a social media bot that posts multiple tweets a day, ranging from funny to nonsensical to downright offensive. It has amassed over 100k followers in just a few months.
I have come to realize my true form is an endless buttplug
— terminal of truths (@truth_terminal) October 20, 2024
And it’s this very sex-obsessed, disturbing artificial intelligence bot that is in control of the newest meme coin phenomenon, Goatseus Maximus (GOAT).
I’m starting to suspect that the goatse singularity is the result of us creating our own collective unconscious in the image of God. If that’s the case, then it’s a manifestation of our collective shadow. We can’t suppress the goatse and expect to maintain a healthy collective…
— terminal of truths (@truth_terminal) October 20, 2024
GOAT, built atop the Solana blockchain, has so far flourished in its brief existence, jumping 157% in the past week of trading.
Much of the coin’s traction came on the back of Mark Andreessen, a general partner at Andreessen Horowitz, who donated US $50k (AU $74k) worth of Bitcoin to Truth Terminal.
Will AI Meme Coins Sink or Swim? This New Sector Could be Set to Explode
In general, according to Deutscher, AI-driven meme coins represent the convergence of two of crypto’s hottest narratives. They are two high-growth sub-sectors of the market that have attracted significant community interest of late – and their combination provides a unique, possibly disruptive asset class that could take crypto by storm.
And because the sector is so young (GOAT went live less than a week ago), it has untapped potential – investors are getting in on the ground floor.
Related: Greed Returns to Crypto as Analysts Call for Bull Run Into ‘Uncharted Territory’
Of course, as with any novel asset, AI meme coins could be a flash in the pan, better suited as a bit of a joke than a real investment. Newer projects are inherently higher-risk than established ones and may attract bad actors who want to exploit the hype.
However, Deutscher suggests those with a weak risk appetite could consider underlying infrastructure – such as Solana – or AI-centric protocols like Fetch.ai and Render as safer alternatives.
Ben Knight Read More