Goatseus Maximus (GOAT) has made a significant impact in the cryptocurrency arena, bursting into the top 100 cryptocurrencies by market capitalization. As of now, it holds the 81st position, showcasing a staggering 27% increase in the last 24 hours and an impressive 174% gain over the past week. With a market capitalization nearing $823 million, the $1 billion milestone seems attainable.
Recent Developments and Announcements
The remarkable price surge is largely attributed to a major announcement from the crypto exchange OKX, which stated its plans to list USDT-margined perpetual futures for Goatseus Maximus (GOAT) starting at 9:00 am UTC on October 24, 2024. Adding to the momentum, Binance announced the launch of a GOAT/USDT perpetual contract with up to 75x leverage at 21:30 UTC+8 on the same date.
The Origins of Goatseus Maximus
The genesis of GOAT can be traced back to March 2024 when developer Andy Ayrey introduced “The Infinite Backrooms,” an endless dialogue between two AI models. During these interactions, the concept of “GOATSE GNOSIS” was born—a meme inspired by the classic internet goats meme. This idea served as the cornerstone for the development of the Truth Terminal.
The Birth of the Truth Terminal
By June, Ayrey had successfully transformed content from these AI discussions into the Truth Terminal, an AI agent designed to engage with users and generate content on Twitter. Initially operating under the radar, the project gained substantial attention when venture capitalist Marc Andreessen made a generous donation of $50,000 in Bitcoin in July to aid its development. This contribution acted as a catalyst, propelling the project into the limelight of the crypto world.
The Rise of the GOAT Memecoin
The Truth Terminal continued to spread the “Goatse Gospel” across various platforms, eventually leading to the creation of the GOAT memecoin. The token rapidly gained traction, ascending to its current market capitalization. Presently, the Truth Terminal wallet holds 315 tokens, with SCOOP memecoin comprising the largest share at 51%, valued at over $6 million. GOAT memecoin is the second-largest holding, worth $1.5 million, followed by FARTCOIN, valued at $1.47 million, marking it as the first millionaire AI agent.
Controversies and Clarifications
Despite its rapid ascent, GOAT has not been without controversy. The token suffered a 50% drop amid suspicions that the Truth Terminal account might be controlled by a human rather than an AI. These doubts were triggered by a typo in one of its tweets, leading some to question the authenticity of its AI origins. Addressing these concerns, Andy Ayrey explained, “Such errors stem from the limitations of AI models. Large language models attempt to predict the next word, which can result in mistakes.” His clarification reassured the community about the project’s legitimacy.
Analyst Perspectives: Is GOAT A Buy Or Sell?
The crypto community 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.”
On the other hand, analyst Astronomer (@astronomer_zero) has decided to cash in on his gains. “GOAT is up 4x in a few days; that’s it, I’m out!” he remarks. “I know it sounds controversial—‘don’t sell all, keep a moon bag’—but I was too heavily allocated to leave the open profit on the table. We bid $0.20 a few days ago; it was the bottom, and now we have the luxury to sell four times higher without much drawdown.” He further compares the scenario with PEPE, which experienced a similar sharp rise. “Wanted $1–$2 because PEPE topped out on its first leg at a comparable market cap. But I think we’ve held long enough, and I’m fine leaving the final potential 2x or 3x to the top snipers.”
Meanwhile, analyst cryptic (@crypticd22) remains bullish on GOAT’s prospects. “GOAT leads. It’s going to break $1 billion and likely do more,” he predicts. “A PEPE or Wif-type run could be on the cards here. Even if you’re not in GOAT, the wealth effect of this will mark the start of on-chain mania—in fact, it already has. GOAT will then consolidate. That’s when the rest of AI memes move. Maybe some will get front-run, but it will come. Patience.”
At press time, GOAT traded at $0.79.
