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AI Crypto Tokens Frenzy 2024

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With Bitcoin nearing 90K valuation, clearly a bull market is yet again upon us. With AI-driven crypto tokens mixing tech innovation with viral meme trends. These tokens—often launched with stories of AI independence or creative freedom—are shaping market trends, creating buzz, and pulling in fans and investors into crypto.

AI Narrative Crypto Tokens in November 2024
AI Narrative Crypto Tokens in November 2024

A Goat to 1 Billion

Goatseus Maximus ($GOAT) is a meme-based cryptocurrency that gained viral traction in late 2024, largely due to the intense promotion by an AI chatbot named Truth Terminal. Originally developed as a Twitter personality by AI researcher Andy Ayrey, Truth Terminal quickly captivated investors with its constant posts about $GOAT and became a key figure in the coin's rise, even accumulating enough $GOAT to reach "AI millionaire" status.

goatseus-maximus-token
Goatseus Maximus ($GOAT)

With a current token price of $0.8726 and a market cap approaching $1 billion, Goatseus Maximus continues to surge. The coin’s latest high was $0.9406, marking a 1,904.5% increase from its low of $0.04354 just weeks prior. It’s now one of the hottest tokens on the market.

But while the legend presents the AI as the creator of the coin, in reality, Truth Terminal’s role was mainly in generating hype and attracting a following, with humans likely behind the actual launch.

Was $GOAT really launched by AI agent?

Not exactly. The story of $GOAT and its supposed origins as an "AI-launched" cryptocurrency is mostly a creative narrative woven around the meme coin to make it more intriguing and give it a viral boost. In reality, while Truth Terminal (the AI chatbot) may have played a big role in popularizing and promoting $GOAT on platforms like Twitter, it’s highly unlikely that the AI itself physically launched the coin. Truth Terminal was more of a marketing mouthpiece, posting and hyping $GOAT in ways that drove interest, but human developers likely handled the technical creation, blockchain setup, and initial launch.

The idea that Truth Terminal “launched” $GOAT works more as an entertaining part of the $GOAT mythos than as an actual representation of how it started. By linking $GOAT to the Truth Terminal AI, the project cleverly taps into the rising interest in AI's potential to influence markets and create autonomous projects—especially in the realm of decentralized, meme-driven cryptocurrencies.

AI Tokens Frenzy Restarted?

In an unexpected move, Binance yesterday listed Act I: The AI Prophecy ($ACT), an obscure AI-themed token that has now skyrocketed over 2,000% within roughly ten hours. Initially valued at a modest $21 million, ACT’s market cap surged to about $460 million following the listing. According to its website, ACT (short for AI Community Token) claims to support AI research, education, and collaboration.

act1-token-chart-binance-listing
ACT 1 token price chart at Binance's listing

However, the token’s origin story is complicated. The coin is tied to Amplifiedamp (known as Amp on Twitter), who helped start the token but quickly exited after feeling exploited by the community. Amp tweeted about their discomfort with the token, revealing that they had burned or sold all their ACT and requested the project be rebranded. They also shared that being associated with ACT had become “stressful” due to ongoing misgendering issues and unauthorized use of their branding.

Amp originally launched Act I in August as a grassroots initiative to help fund AI researchers and projects. Later, others took the idea and created the ACT token on the Pump.fun platform, even donating part of the token supply to support Amp’s initial vision. ACT follows Goatse Maximus ($GOAT) as the second Pump.fun token to make it onto Binance.

ACT’s surprise listing has now sparked a surge in microcap meme coins across the crypto market. The success of one big “runner” like ACT often sets off a wave of imitators, and the current AI hype means new tokens, like the $MIST Solana token (supposedly created by an AI using this Github repo), are gaining traction. $MIST has managed to hit 20 million valuation within a few hours, amassing a volume of more than 90 million. 

$MIST's AI chatbot on Twitter can do the usual chatbot stuff: engage in conversations and throw out some 'pearls of wisdom'.

kasumi152_ai-twitter-conversations
Kasumi AI X account convos

BTW, admins just posted that they're taking it offline briefly as they're 'migrating to better servers and upgrading to: nvidia/Llama-3.1-Nemotron-70B.'

However, the actual origin of these “AI-created” tokens is often unclear, as multiple projects on various chains, including Base, are vying to be “the first.”

In a market where hype often trumps truth, tokens can gain value simply on a narrative, like $GOAT’s billion-dollar valuation based on storytelling alone. The current bull market is fostering a frenzy of new “AI” tokens, offering chances for profit—but also risks. As always, navigating this volatile space requires caution and a level head, as speculative bubbles often lead to both big wins and painful losses.

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