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Goatseus Maximus (Goat) has entered the list of 100 cryptocurrencies by market capitalization, currently holding the #81 position. Memecoin has experienced an impressive 27% increase in the last 24 hours and an impressive 174% gain in the last week. With a market capitalization of $823 million, the $1 billion milestone seems within reach.
The latest price increase comes amid a major announcement from crypto exchange OKX. The platform said it will list a perpetual futures with limits for Goatseus Maximus (GOAT) USDT starting at 9:00 am UTC on October 24, 2024. Binance also announced that it will launch a perpetual GOAT/USDT contract with a ratio of up to 75x in 21. :30 UTC+8 on October 24, 2024.
The origin of GOAT dates back to March 2024, when developer Andy Ayrey introduced “Infinite Backrooms,” an endless dialogue between two AI models. During this interaction, the idea of “GOATSE GNOSIS” emerged—a meme inspired by the old internet goat meme. This vision laid the foundation for what would become the True Terminal.
By June, Ayrey had turned the content from these AI conversations into Reality Terminal, an AI agent that interacts with users and generates content for Twitter. Initially operating under the radar, the project gained significant attention after venture capitalist Marc Andreessen donated $50,000 in Bitcoin in July to support its development. This generous donation acted as a catalyst, propelling the project forward into the crypto limelight.
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The True Terminal continued to spread the “Goatse Gospel” throughout X, which eventually led to the creation of the GOAT memecoin. The token went viral, quickly rising to its current market capitalization.
Currently, the Truth Terminal fund holds 315 tokens, and SCOOP memecoin makes up the largest share at 51%, with a value of over $6 million. GOAT memecoin is the second largest, valued at $1.5 million, followed by FARTCOIN, valued at $1.47 million, making it the first millionaire AI agent.
Despite his rapid rise, the GOAT has not been without controversy. The token dropped by 50% amid allegations that the True Terminal Account may be controlled by a human instead of AI. This doubt was caused by a typo in one of its tweets, leading some to question the authenticity of its AI origins.
Addressing the concern, Andy Ayrey explained, “Such errors stem from the limitations of AI models. Examples of large languages try to predict the next word, which can lead to errors.” His clarification strengthened the public’s knee about the legality of this program.
Analyst Opinion: Is the Goat a Buy or a Sell?
The crypto community at X remains divided on the future direction of the GOAT. Crypto analyst Jake Pahor expressed optimism, saying, “Right now, I wish I had bought more GOATS. What an amazing run. I believe we may see a pullback, which would provide good entry points. However, it could go on to reach a $1 billion+ market cap and prove me wrong. “
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On the other hand, analyst Astronomer (@astronomer_zero) chose to exit his position after big gains. “The goat increased 4 times in a few days; that’s it, I’m out!” he comments. “I know it sounds controversial—’don’t sell everything, keep the monthly fund’—but I’ve been heavily assigned to leave profit on the table. We bid $0.20 a few days ago; it was low, and now we have the luxury of four times the sales without much reduction.”
The analyst also compares with PEPE, which experienced a similar sharp rise. “I was looking for $1–$2 because PEPE came out ahead in its first leg with a comparable market value. But I think we’ve held on long enough, and it’s okay to leave the last possible 2x or 3x to the top shooters. “
Meanwhile, cryptic analyst (@crypticd22) remains bullish on GOAT prospects. “GOATS are the best. It will break $1 billion and possibly more,” he predicted. “A PEPE or Wif type run could be on the cards here. Even if you’re not GOAT, the wealth impact of this will mark the start of on-chain mania—in fact, it already is. The goat will bring it together. This is where all the AI memes go. Maybe some will get a run at the front, but it will come. Patience.”
At press time, GOAT traded at $0.79.
The featured image was created with DALL.E, a chart from TradingView.com
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