GOAT Cryptocurrency Takes the Digital Asset World by Storm, Transforming from a Small-Cap Token into a Market Heavyweight Worth $800M in Just Two Weeks

The story behind this meteoric rise involves AI chatbots, social media buzz, and major exchange adoptions.

A new cryptocurrency called GOAT has seen its value skyrocket by 800% over the last two weeks, thanks in part to mentions by an AI chatbot. Now trading at $0.68, the token has seen massive trading activity.

What Happened: A new cryptocurrency is seeing its value soar after being mentioned by an artificial intelligence chatbot.

According to Benzinga Pro data, the cryptocurrency known as GOAT has seen its price decrease by 8.78% over the last 24 hours, trading at $0.68 at the time of writing. The token has seen a daily trading volume of $480 million.

The token has seen massive growth in a short period of time, starting out as a small-cap cryptocurrency two weeks ago. Now valued at $800 million, GOAT is among the fastest-growing new tokens of 2024.

The story behind GOAT’s rise is connected to an AI chatbot called Terminal of Truths on X (Terminal).

Terminal, which was once known for sharing philosophical thoughts and commentary on internet culture on Twitter, began getting tagged by users in posts about cryptocurrency tokens.

In response to these mentions, Terminal would share short thoughts on the tokens, which would lead to large price movements and massive trading activity.

GOAT is one of the tokens that have seen several mentions by Terminal, which has led to the token seeing several days of price increases.

Trading GOAT: Trading data shows that GOAT is now held by 39,234 different cryptocurrency wallets.

The token has seen three perpetual futures contracts launch on major exchanges Kraken, BitMEX and Binance.

These new trading products allow investors to place leveraged bets on GOAT’s price movements, with some platforms offering up to 50x leverage.

For traders interested in long-term positions, these perpetual futures contracts are important as they have no expiration date.

The contracts use a funding rate mechanism to maintain price alignment with the actual token, requiring traders to pay fees when contract prices move away from spot market values.

Related Link: Behind The Markets: How ‘Sentient AI’ Is Boosting Memecoin Prices

Why It’s Important: The promotion of GOAT by Terminal has helped the token stand out in the crowded cryptocurrency market.

While headlines may suggest that a “sentient AI” is promoting the token, the reality is simpler.

Terminal is a Large Language Model (LLM), similar to other chatbots. These AI models are trained on vast amounts of text data.

When prompted with a question or statement, the model processes the input and generates a response based on the patterns and relationships it has learned from the training data.

In the case of Terminal, the chatbot is able to generate commentary on cryptocurrency tokens when prompted by users tagging it in their posts.

The mentions of GOAT by Terminal have sparked a copycat effect in the market.

Another token called RUSSELL, named after the Coinbase (NASDAQ:COIN) founder’s pet dog, briefly saw a 500% gain after getting an AI bot mention.

However, the price quickly dropped back to previous levels, highlighting the volatile nature of such moves.

Market experts have taken notice of the trend and are advising traders to treat these AI-promoted tokens like traditional memecoins.

Trading firm K33 Research said that they are treating the AI-promoted tokens like memecoins, focusing on price momentum over the AI narrative.

“We're not really paying attention to the technology story behind them, but rather how the market is digesting them and the liquidity,” said K33 Research.

“It feels like the market is finally waking up from the bear market and starting to trade the memecoins again, which is a good thing for our strategies.”

Current market data shows GOAT last traded at $0.6884, representing an 8.78% decrease over 24 hours. This pullback comes after several days of strong gains and coincides with the launch of futures trading options across major exchanges.

The growth of GOAT has added new complexity to the market. Professional traders now have multiple ways to participate, from spot trading to leveraged futures positions. However, exchanges include strong risk warnings with their high-leverage offerings.

The crypto community has developed varying perspectives on AI-promoted tokens. Some view them as an innovative way to build community engagement, while others see them as simply the latest twist in memecoin trading.

Social media metrics show GOAT leading in community engagement among similar tokens. The project received additional attention after tech investor Marc Andreessen made a $50,000 Bitcoin donation to Truth Terminal, coinciding with further price increases.

Recent trading sessions have seen GOAT appear alongside other popular tokens like POPCAT and MEW on top gainers lists. The token maintains active trading across both centralized and decentralized exchanges.

The expansion into perpetual futures markets marks a new phase for GOAT. These derivative products add sophisticated

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