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Kriptoteka > Crypto News > Goatseus Maximus (GOAT) Joins Crypto Top-100: Buy or Sell?
Crypto News

Goatseus Maximus (GOAT) Joins Crypto Top-100: Buy or Sell?

marcel.mihalic@gmail.com
Last updated: October 24, 2024 7:49 pm
By marcel.mihalic@gmail.com 6 Min Read
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This article is also available in Spanish.

Goatseus Maximus (GOAT) has made a striking entrance into the top 100 cryptocurrencies by market capitalization, currently ranking #81. The memecoin has seen a notable 27% increase in the past 24 hours and an extraordinary 174% rise over the last week. With a market cap fluctuating around $823 million, the $1 billion threshold seems achievable.

The recent price hike follows a significant announcement from the crypto exchange OKX. The platform revealed that it will begin offering USDT-margined perpetual futures for Goatseus Maximus (GOAT) starting at 9:00 am UTC on October 24, 2024. Additionally, Binance shared that it will introduce a GOAT/USDT perpetual contract with leverage of up to 75x at 21:30 UTC+8 on the same date.

The inception of GOAT goes back to March 2024, when developer Andy Ayrey launched “The Infinite Backrooms,” a continuous dialogue between two AI models. Within these discussions, the notion of “GOATSE GNOSIS” surfaced—a meme inspired by the classic internet goats meme. This concept laid the groundwork for what evolved into the Truth Terminal.

By June, Ayrey adapted the content from these AI dialogues into Truth Terminal, an AI entity that converses with users and produces content on Twitter. Initially flying under the radar, the project captured significant attention after venture capitalist Marc Andreessen contributed $50,000 in Bitcoin in July to back its development. This generous donation served as a catalyst, thrusting the project into the cryptocurrency limelight.

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The Truth Terminal continued to spread the “Goatse Gospel” across X, which ultimately spurred the creation of the GOAT memecoin. The token went viral, quickly climbing to its current market valuation.

At present, the Truth Terminal wallet contains 315 tokens, with the SCOOP memecoin accounting for the largest portion at 51%, valued at more than $6 million. The GOAT memecoin is the second-largest holding, worth $1.5 million, followed by FARTCOIN, which is valued at $1.47 million, making it the first millionaire AI entity.

Despite its swift rise, GOAT has faced controversy. The token saw a 50% decline amid allegations that the Truth Terminal account might be operated by a human rather than an AI. This suspicion was triggered by a typo in one of its tweets, prompting some to question its authentic AI origins.

To address these worries, Andy Ayrey stated, “Such errors arise from the limitations of AI models. Large language models attempt to predict the next word, leading to potential mistakes.” His explanation reassured the community about the project’s authenticity.

Analyst Perspectives: Is GOAT A Buy Or Sell?

The crypto community on X is split regarding GOAT’s future direction. Crypto analyst Jake Pahor expressed his positive outlook, saying, “At this point, I wish I’d acquired more GOAT. What an amazing run. I think we may witness a pullback that could present good entry points. However, it might just keep rallying to over a $1 billion market cap and prove me wrong.”

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Conversely, analyst Astronomer (@astronomer_zero) has decided to cash out after realizing significant gains. “GOAT is up 4x in a few days; that’s enough for me, I’m out!” he remarks. “I know it may seem controversial—‘don’t liquidate all, keep a moon bag’—but I had allocated too much to let open profits sit on the table. We bid $0.20 a few days ago; that was the bottom, and now we can sell four times higher without much drawdown.”

The analyst also draws parallels with PEPE, which saw a similar sharp increase. “I targeted $1–$2 because PEPE peaked in its first leg at a similar market cap. But I believe we’ve held long enough, and I’m comfortable leaving the final potential 2x or 3x to the top snipers.”

GOAT price analysis
GOAT price analysis | Source: X @astronomer_zero

Meanwhile, analyst cryptic (@crypticd22) remains optimistic about GOAT’s future. “GOAT is leading. It will break $1 billion and likely go further,” he predicts. “A PEPE or Wif-type surge could be imminent here. Even if you’re not invested in GOAT, the wealth effect from this will signal the start of on-chain excitement—in fact, it already has. Afterward, GOAT will solidify, and that’s when other AI memes will reveal themselves. Some may get front-run, but it’s inevitable. Patience is key.”

At the time of writing, GOAT was trading at $0.79.

GOAT price
Goatseus Maximus price, 1-hour chart | Source: GOATUSDT on TradingView.com

Featured image created with DALL.E, chart sourced from TradingView.com

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