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The market cap of AI meme coins has skyrocketed to $1.9 billion, driven primarily by Goatseus Maximus (GOAT) and Turbo (TURBO), which together accounted for 60% of the trading volume at $360 million.
Key Notes
After experiencing a significant price drop of 50% due to controversies, the GOAT meme coin has rebounded to a new all-time high of $0.67.This resurgence coincided with venture capitalist Marc Andreessen's engagement with the AI and meme coin narrative.Recent data reveals that discussions about AI and meme coins represented over 60% of community conversations in October.Amid the rising demand for artificial intelligence (AI) solutions, AI meme coins have come into the limelight over the past few months. The market cap of AI meme coins has surged to $1.9 billion recently with Goatseus Maximus (GOAT) and Turbo (TURBO) dominating most of the recent rally.
As per the latest data from CoinGeckco, the market cap of AI meme coins shot to $1.9 billion while the daily trading volume exceeded more than $590 million. Of these, two tokens, GOAT and TURBO contributed a massive 60% to the AI meme coin trading volume at $360 million. However, other AI meme coin tokens have low liquidity with daily trading volumes being less than $1 million.
As we know, the OpenAI platform ChatGPT created the TURBO meme coin while the popular ‘Terminal of Truths’ account promoted GOAT in recent weeks. Thus, the massive surge in these token’s prices reflects the combined interest of the crypto community in AI and meme coins.
According to data from Kaito, discussions surrounding AI and meme coins accounted for more than 60% of community conversations in October. “Fifty percent mindshare for AI. I’ve never seen anything like this before,” noted Investor Miles Deutscher.
GOAT Meme Coin Surges 50% Hitting New All-Time High
Amid controversies surrounding the ‘Terminal of Truths’ account about human errors in the AI platform, the GOAT price tanked 50% last week. However, after enough clarification, it is regaining the lost ground. As of press time, the GOAT meme coin is trading 50% up at a new all-time high of $0.67 with a market cap of $668 million.
This development coincided with venture capitalist Marc Andreessen of Andreessen Horowitz sharing an interview that addressed meme coins and AI. In addition, Andreessen donated $50,000 to the ‘Terminal of Truths’ account.
“I think there’s something serious going on; this is maybe the first example of a convergence point between AI and crypto,” Andreessen remarked.
In its latest report, K33 Research noted that AI meme coins have surged in popularity over the past two weeks, with several tokens surpassing a market cap of $100 million. Although Truth Terminal did not create the token GOAT, it did promote it on X. This has led to the emergence of a new narrative focused on AI meme coins, highlighting AI agents that are actively developing crypto economies and launching new tokens.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
