AI-Backed Meme Coin Surges to $150 Million

The new meme coin Goatseus Maximus (GOAT) has surged nearly 2000% in two days, reaching a market capitalization of $150 million. The rise was accompanied by rumors that the project was created by the AI bot Truth Terminal, funded by Andreesen Horowitz.

The bot’s creator, Andy Ayrey, denied the involvement of the neural network in the launch of the meme coin. Someone else created the token, but the bot participated in its promotion. 

It didn’t actually make it

Someone else did and tagged ToT which then endorsed it

Ppl have been airdropping it $GOAT and making coins about my dog and all sorts of other stuff which is insane

But it’s important to remember I think; that this isn’t a crypto project; it’s a…

— Andy Ayrey (@AndyAyrey) October 13, 2024

On October 10, the coin was launched via the Pump.fun platform on the Solana network. 

The wallet responsible for creating the token launched another meme coin called Gospodin — a reference to the fictional pet of Truth Terminal.

The AI bot operates semi-autonomously — a human operator approves its posts and decides with whom to interact. Ayrey noted that the neural network is an extension of Llama 3.1 — Meta’s large language model.

On July 11, the bot received $50,000 in funding from a16z founder Marc Andreessen. He responded that he intends to buy a new processor, tweak the algorithm, and possibly launch a meme coin. 

Earlier in 2023, a token generated by ChatGPT reached $14 million in trading volume on Uniswap within a day.