How to become a goat? As in all areas, the sector of cryptocurrencies is built on very powerful myths. And, a bit like the oversold American dream, it currently boils down to making crypto-millionaires using more or less exploded memecoins. An essential recipe for successfully selling these tokens based on a void that has become the promise of spectacular volatility. Latest example, the memecoin GOAT associated with an AI which has just allowed a trader to transform $5,500 into $1.5 million.
Memecoin: a speculative frenzy without limits
In recent months, the success of memecoins emerges as the trend of this bull market in search of a new ATH of Bitcoin. This is to the point of considering their growth as an obstacle to the smooth running of this upward trend.
Because available liquidity is massively heading towards this vacuum economy with a highly speculative vocation. And for good reason, the few tokens that manage to pass the digital selection stage end up displaying returns that BTC will never experience again.
The memecoin market emerges as the crypto trend of 2024
Yet, manipulation invites itself constantly in the field. With many personalities determined to take advantage of this quick financial windfall to be collected on the backs of their communities. Like for example Star YouTuber MrBeast suspected of having benefited from pump and dump operations to collect millions of dollars.
But nothing seems to be able to stop fans of this digital Noah’s ark. And the latest success of the genre concerns the GOAT token supposedly created by artificial intelligence (AI) associated with crypto investment fund a16z.
GOAT: an increase of 76,480% since its launch
The case concerns the memecoin named Goatseus Maximus (GOAT). With a clearly unpremeditated marketing technique, a claim by artificial intelligence (AI) Truth Terminal on the X network.
Apparently, that was all it took to whet traders’ appetites. Because this previously unknown memecoin took the opportunity to make explode its capitalization beyond $650 million over the last few days. For comparison, it pointed to only $150 million at the start of the week.
GOAT Token Chart – Pump.fun
An increase estimated at almost 76,500% since launch. With the direct consequence, the simultaneous enrichment of its first-time investors present from the first moments. Like for example this trader who has just transformer his initial stake of $5,500 in more than $1.5 million.
Profits partly cashed by its owner. This during several transactions carried out in recent days which allow him to claim gains made up to $1.1 million.
The market for memecoins has clearly not finished creating new crypto-millionaires. But how many investors have to lose their entire funds for this equation to become possible? The question is worth asking…
