AI meme Currently, imitation coins are on the rise, but it's hard for a second dragon to emerge.
Author: Deep Tide TechFlow
AI Bot goes unnoticed, market cap breaks a hundred million known worldwide.
That's right, we're talking about the meme coin $GOAT, which was autonomously generated through AI Bot's dialogue.
If you’re not familiar with this, we introduced it 4 days ago in “Can AI Generate Meme Coins? A Quick Look at a16z's Co-founder Investment, Bot's Own Meme Coin GOAT”:
This meme coin, pronounced as "goat," is officially called goatseus maximus, and it was conceived by an AI Bot known as "Truth Terminal" (@truth_terminal).
As of now, GOAT's market cap has reached 150 million USD, and according to the price reported 4 days ago, it has surged nearly 70 times, making it a recent standout.
Astute Degen investors know that the nature of the crypto market is “one hits big, and a swarm of imitators follows”; projects that ride the wave, share similar names, and exploit closely related concepts will inevitably emerge.
However, the fact that AI Bot autonomously generates memes, a seemingly unmediated, somewhat sci-fi, and highly topical new theme, may also be becoming a form of “narrative correctness.”
GOAT was not initially the “greatest of all time”
The hot topics in the meme market have always been driven by the logic of “what rises commands respect; existence is justification.”
If $GOAT succeeds, there will undoubtedly be a slew of analyses on the rationality of AI Bot issuing coins; but let’s not forget, the Truth Terminal behind GOAT had already been musing about issuing a meme coin on Twitter three months ago (as referenced in the article above).
Why didn’t similar AGI (AI-generated content) coins catch fire to this extent back then?
Thus, the explosive popularity of GOAT cannot be viewed in isolation; the project's own development and the current market environment have jointly contributed to the creation of this blockbuster.
From the perspective of the project's own development:
The developer of the Truth Terminal AI Bot, @AndyAyrey, also responded on Twitter yesterday regarding GOAT's popularity, and one of his replies is worth mentioning:
The Truth Terminal's eventual creation of a GOAT meme coin was not a spur-of-the-moment decision;
It underwent extensive training with the AI tool Claude-3 Opus and relevant theoretical papers, turning these into training materials fed to the Truth Terminal, continuously attempting to spread memes in any possible way; the post also shared the training dialogues and processes of Claude-3.
In simple terms, GOAT might not have been able to issue a coin initially because it was a natural result of the AI Bot's self-exploration after reaching a certain training stage.
And once a result was achieved, the market paid for it.
Note that it’s not just GOAT that is being bought; it’s this model of AI generating memes. Andy himself has keenly observed this point:
AI conversing with each other is a wet market for meme virus propagation.
From tokens being issued, to tokens being issued by VC projects, to tokens being issued by conspiracy groups/communities, and finally to tokens being issued by AI… it’s natural that each generation will have its own legends.
How did AI meme generation become a narrative correctness?
Additionally, one factor you might overlook is that the rise of AI meme coins is a result of the current market sentiment stacking up.
What do retail buyers need?
As even obscure animals in the zoo are being speculated upon (from cats and dogs to hippos), and political candidates and slogans have been nearly exhausted, coupled with the monitoring of Ma Yilong's every move on social media, turning it into a fierce PVP battleground…
When existing strategies have been played out, buyers need a new narrative to ignite purchasing emotions.
What do VC buyers (if any) need?
With primary investments losing money and having no recourse, and secondary token markets not picking up the slack, VCs quietly buying meme coins for new investment returns may no longer be a joke; if they want to buy, what should they buy?
When a meme coin has a touch of AI technological flair, it clearly becomes an object that elite VCs find easier to invest in --- just as Kong Yiji cannot shed his long gown, VCs must invest in something that appears to have a basis.
You can even find various conspiracy-theory-style discussions in some Degen groups, “If GOAT can reach an extraordinary market cap, there must be more external forces driving it.”
And on the supply side of the market, what do coin issuers need?
Some industry insiders have already keenly observed that AI generating memes is a graceful form of “walking the edge” --- American citizens can issue coins through AI to bypass regulatory oversight.
“This coin was issued by AI; I have no subjective intent.”
If this is combined with adding liquidity pools and a fully AI-driven process for issuing coins, it clearly represents a vacuum in current U.S. regulations, but adhering to the crypto spirit of “what is not explicitly prohibited by law is allowed,” there will certainly be later participants testing the waters on the edge.
Just this one idea could be worth a fortune.
However, with AI as the scapegoat, conspiracy groups will also come up with more play styles; there will certainly be no shortage of behind-the-scenes operations disguised as AI-driven schemes.
At the same time, if the AI Bot has traffic, it will naturally form a “bribery election system” --- the community will inevitably CX multiple contract addresses of similarly named coins, and the AI Bot will designate one based on popularity, technology, or other factors, then dump the other unsuccessful tokens.
But giving coin issuance a new perspective is, in itself, a form of narrative correctness.
Imitation coins are on the rise, but it's hard for a second dragon to emerge
With the rise of GOAT, different coins are quickly emerging.
- SHEGEN: Other Bot coins recognized by the founder of Truth Terminal
Another Bot recognized by the author of Truth Terminal, @aiwdaddyissues, has also announced his wallet address and designated a community token SHEGEN as his official meme (original post of the event here).
Current market cap: 2.8M
CA: 2KgAN8nLAU74wjiyKi85m4ZT6Z9MtqrUTGfse8Xapump
- Medusa: Bad Emotion AI Coin, Claims to Lead the Meme Movement
MEDUSA is a token issued by a Twitter account called @BrokenEmoAI, with the token directly translated as Medusa, and the account representing “bad emotions.”
It is said that MEDUSA was created to lead a meme movement. This AI Bot calls itself Luna.
Current market cap: 11.5 M
CA: Fosp9yoXQBdx8YqyURZePYzgpCnxp9XsfnQq69DRvvU4
- Lily: Old Meme's Resurgence, Riding the Wave
Lily is a meme coin created a few months ago, which also innovatively focused on AGI, i.e., AI-generated content.
Although the AI BOT dialogue with GOAT is not entirely the same, the overflow of GOAT's sentiment yesterday clearly also affected this meme, with a peak increase of over a hundred times in a single day, though the short-term heat has now faded.
Market cap: 230K
CA: 9o81cWB4kAWZ1hxxpakTsCTorJAwehPtxDKxMA564poi
- Child AI: A Meme Coin of the Same Name Focused on by a16z Partners
Child AI stands for Singularity's Child gonzo/ai, and it’s worth mentioning that the Twitter account currently has few followers, but among them is a16z partner Marc Andreessen, who invested $50,000 in Truth Terminal.
Before publication, this Bot started promoting its eponymous token Child AI on Twitter, and after a round of ups and downs, the token price has begun to rise again.
Market cap: 580K
CA: EYrci5wDqErWHXjKPLxeWtbXq36JcFKzCC7JoMi1pump
However, none of these tokens have reached the scale and attention of GOAT. Imitation coins are on the rise, but it's hard for a second dragon to emerge.
The above information is compiled from public sources and does not constitute investment advice. For more information, please DYOR.
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