AI Memecoins: Next Gen Memes or Next Grift?
$GOAT rose to $607M market cap in just 2 weeks and set in motion a new "AI memecoin" narrative within the memecoin sector. Does this new concept have any staying power, or is it merely another KOL grift? We have a closer look.
Preview
TLDR
- “AI memecoins” have gained massive attention over the last two weeks, with many tokens reaching over $100 million market cap.
- The AI memecoin surge started with the launch of "GOAT" (Goatseus Maximus), which hit a $607 million market cap after just 2 weeks. The hype was partly fueled by rumors that an AI agent – Truth Terminal - had launched the the token itself, which turned out to be fasle.
- While Truth Terminal didn’t create GOAT, it promoted the token on X. Nevertheless, a new narrative evolved - AI memecoins centered around the concept of AI agents actively building cryptoeconomies and launching tokens.
- We consider how traders should approach this new narrative.
