Whose calories are burned by AIMeme

CoinWorld reported:
At the end of October, the frenzy was not “Cats vs. Dogs,” but “AI+Meme.”
By Anderson Sima, Foresight News
How much would you pay for a goat?
On October 23rd, GOAT became the first meme coin on the token launch platform pump.fun to have a market value exceeding $500 million.
At the time of writing, GOAT was trading at $0.5276, with a 24-hour increase of 35.3%, and a current market value of $527 million.
On the same day, according to Lookonchain, an address withdrew 32,695 SOL tokens (approximately $5.46 million) from Binance to purchase MEME coins. Among them, the address spent 18,000 SOL tokens (approximately $3 million) to buy 6.95 million GOAT tokens (approximately $3.39 million), with an average price of $0.43.
Someone was willing to spend $3 million to buy “unattainable” goats (GOAT).
In the cryptocurrency world, fresh and interesting concepts that ignite the market emerge from time to time. Obviously, the frenzy at the end of October was not “Cats vs. Dogs,” but “AI+Meme.”
The Wonderful Combination of AI and Memecoin
The full name of the GOAT token is “Goatseus Maximus” (goat), which, although a bit of a joke, has an undeniable spreading power.
It was released on the Solana blockchain through the pump.fun platform on October 10, 2024. The creator of GOAT has not been publicly named, but its promotion is mainly facilitated by an AI robot called Truth Terminal. This AI robot was created by developer Andy Ayrey and received $50,000 in funding from A16z.
Initially, this robot was used by Andy Ayrey to study “the influence of internet culture and AI on ideology.” After the birth of the GOAT token, it frequently released information related to GOAT, and the market value of GOAT quickly soared from a few thousand dollars to over $3 million in a matter of days.
Andy Ayrey himself also holds 1.25 million GOAT tokens, and he claims to have airdropped a portion of them to friends and AI researchers, but he personally has not made any transactions.
The combination of AI and Memecoin may seem strange but is actually a product in line with the trend of the times. In today’s AI-dominated era, the combination of a futuristic AI concept and down-to-earth meme culture is a marketing strategy tailored to attract attention.
AI technology does not need memes to provide emotional value, but memes need AI to attract new attention.
Influential Figures and Key Opinion Leaders Join In
The GOAT token has not only received the support of the AI robot but also the endorsement of some well-known KOLs. KOL Maison Ghost, with over 240,000 fans, publicly praised the uniqueness of GOAT on the X platform and predicted that it might define the “new gameplay” of Memecoins in the coming weeks.
On October 18th, Arthur Hayes wrote on X, “Are you really going to give up the combination of artificial intelligence + meme coin + religion? Many people still believe in the flat earth theory that existed hundreds to thousands of years ago. So, don’t you think GOAT will reach a market value of $1 billion?”
Zhu Su, co-founder of Three Arrows Capital, wrote on X that he had gone long on GOAT with an average entry price of $0.33976. According to Solscan data, the crypto market maker Wintermute became the third-largest holder of GOAT, holding 1% of the total supply.
The Essence of Memecoin: Zero-Sum Game and Attention Economy
Fundamentally, the rapid rise of GOAT does not depend on its business prospects or technological innovation but is a classic manifestation of the attention economy. The market value of meme coins often correlates with the strength of consensus, which relies on continuous media exposure, meme culture, and the promotion of KOLs.
In a March article this year, Multicoin Capital put forward a point of view: “In the field of cryptocurrency, the main inputs for asset pricing are not multi-factor models based on risk premiums or cash flows, but the perceived amount of time, energy, and money invested in the asset’s community.”
In this age of information explosion, whoever can capture the public’s attention can create a huge market value in a short period of time. Behind the success of GOAT is the consensus rapidly spreading on social media and the continuous “voice” of the AI robot.
But please note that the underlying economic model is still a zero-sum game. Early investors profit by attracting followers, and if these newcomers fail to exit in time, they may only bear subsequent losses. For most memes, the trilogy of “hype-cooling-elimination” is their inevitable fate.
“Set aside prejudices and embrace bubbles.” When data can also become oil, attention can become currency. If you firmly believe in the value investment argument emphasized by Charlie Munger, you will miss a new awakening era.
However, when you enter the world of memes, please remember: this is the “Dark Forest,” the “Venetian,” the “PlayerUnknown’s Battlegrounds.”
I’m getting off now, good luck to you.