In summary
- Goatse Maximus (GOAT), a Solana meme Cryptocurrency, hit a new all-time high of nearly $0.88 on Thursday, entering the top 100 cryptocurrencies by market capitalization.
- The surge came after Binance announced futures trading for the token, making it the first Pump.fun token to hit the largest centralized exchange.
- The cryptocurrency was conceived by an AI bot and backed by Truth Terminal, boosting its value since its launch.
Goatse Maximus (GOAT), a Solana meme cryptocurrency originally conceived by an AI bot, hit a new all-time high of nearly $0.88 on Thursday as it entered the top 100 cryptocurrencies by market capitalization for the first time.
The latest surge came after Binance announced it would allow futures trading for the token, becoming the first token launched through memecoin factory Pump.fun to reach the world’s largest centralized exchange.
It all started when Truth Terminal, a Twitter-based AI chatbot using a modified version of Meta’s Llama 3.1 model, began prophesying about a religion based on an infamous and grotesque meme from 2004. This religion was going to be called Goatse Maximus, the bot suggested—and in turn, someone (a human) created a cryptocurrency based on it.
Soon, the Twitter bot began interacting with the meme coin community, eventually endorsing the project and creating its own cryptocurrency wallet. This AI-driven craze has caused the token to skyrocket in value in the two weeks since its launch.
GOAT was the largest token created through Pump.fun, with Fwog (FWOG) following with a market capitalization of $224 million. But with Binance announcing that it would launch futures trading for the Truth Terminal-backed project, it became the first token created on Pump.fun to be listed on the centralized exchange—albeit as a futures contract.
“The rapid growth that has crowned GOAT as Pump.fun’s top coin (by market capitalization) should inspire others to see what is possible,” the official Pump.fun Twitter account posted.
Futures trading requires traders to buy or sell the asset at a specific time, quantity, and price. This helps limit volatility when trading a token. On the other hand, spot trading is much more flexible, allowing a user to buy or sell an asset as they wish.
“And they said that Pump.fun (tokens) could not be listed on Binance,” posted the Pump.fun co-founder known as Alon, followed by numerous laughing emojis.
With this milestone, all of Pump.fun’s top 10 tokens by market capitalization remained in the green on the day of writing, while broader horizons open up for projects on the platform.
Goatse Maximus’s meteoric rise places it among the top 10 fastest-growing tokens of the year, Bubblemaps reported to Decrypt. Book of Meme (BOME) is probably the fastest, surpassing a $1 billion market cap in just 48 hours in March. It has never again reached the all-time high price it reached on the day it was listed on Binance.
At the time of writing, GOAT is currently the 103rd largest meme cryptocurrency by market cap, falling to a current price of around $0.76 after its Thursday morning peak and falling just outside the top 100 coins.
According to CoinGecko, the only memecoins launched this year that remain ahead of GOAT are Brett (BRETT) on the Ethereum Base layer-2 network and Solana’s (MEW) Cat in a Dogs World.
Edited by Andrew Hayward
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