The GOAT token is the leader of this market niche.
Over the past month, “AI agent” platforms have risen to prominence.
Memecoins created by artificial intelligence (AI) are increasingly gaining popularity in the digital asset market.
These are meme cryptocurrencies and tokens that They are developed from scratch by AI bots autonomously. These agents are autonomous programs that can make decisions and carry out actions independently, integrating technical, financial and cultural aspects.
As explained in Criptopedia, educational section of CriptoNoticias, memecoins are digital currencies inspired by a mascot, jokes or Internet memes. These assets do not solve specific problems and, in general, They are used for financial speculation due to their high volatility.
Thejaswini, cryptocurrency market analyst, poses: “We are in late 2024, looking at how AI is changing not only the way we trade cryptocurrencies, but also the way we think about digital property itself.”
In the following graph, The growth of the tokens launched by these bots is observed during each day of November 2024 (blue bars). The red line shows the cumulative total of these releases.
The analyst marks the turning point the AI memecoin frenzy sparked by the appearance of the bot called Terminal of Truths (ToT).
It was developed by researcher Andy Ayrey, who sought to develop the potential of autonomous agents in the digital ecosystem. In July 2024, the bot caught the attention of Marc Andreessen, co-founder of the firm a16z, who decided to transfer more than $50,000 in bitcoin (BTC) to his wallet.
Thanks to that contribution, what began as a simple test became a major player in the cryptocurrency universe. ToT demonstrated its ability to analyze markets and act autonomously. “For the first time, an AI not only talked about cryptocurrencies, but actively participated in them. The market has never seen anything like it,” says Thejaswini.
According to data from CoinGeckothe cryptocurrencies created by ToT They currently have a market capitalization that exceeds $1 billion.
So in October, ToT began promoting Goatseus Maximus (GOAT), a token of pump.fun, the memecoin creation platform that runs on the Solana network. To do this, it implemented a promotion strategy based on social network analysis or digital asset market patterns.
In mid-October 2024, it attracted the attention of much of the market and the asset price increased by more than 7,000%.
It is currently the leader of this market niche, with a market capitalization of $694 million. On November 17, 2024, its price climbed to $1.35, its all-time high (ATH).
The specialist also highlights the growth that is having the Virtuals Protocol platform in this ecosystem. Some figures that illustrate the good performance are that 21,000 AI agent tokens have already been created so far in November, among which aixbt by Virtuals (AIXBT) and luna by Virtuals (LUNA) stand out, which increased more than 300 % in the first days of November.
The price of the virtual protocol token (VIRTUAL), meanwhile, increased more than 340% in the last 30 days, as seen in the following graph. CoinGecko.
In this regard, Thejaswini highlights that “the global market for artificial intelligence agents is projected to grow from $5.29 billion in 2024 to $216 billion in 2035.”
Along these lines, he believes that the rise of AI-based memecoins is no coincidence, since various factors have converged at this time to boost their popularity.
“First, we have moved from the ‘Read, Write, Own’ era of Web3 to what industry experts call the ‘Read, Write, Own, Delegate’ phase,” he notes, adding: “ Think of it as outsourcing your crypto activities to highly capable digital assistants who never sleep and don’t get excited about market changes.
He then highlights the rapid growth of cryptocurrency network technology and advanced language models.
According to Kaito A.I.a platform that performs sentiment analysis, the market was ready for something new. “Enthusiasm for artificial intelligence agents reached an all-time high just when traditional DeFi (decentralized finance) narratives were becoming obsolete,” he completes.
The concrete thing is that this increase in the launch of tokens at the end of November reflects a growing trend towards automation and decentralization in the industry.
However, Thejaswini offers an interesting point of view for the future, that presents challenges in terms of security and the regulatory framework. “When an AI robot can turn a few thousand dollars into millions overnight, and when traders blindly follow AI-generated signals into highly speculative positions, we are entering uncharted territory,” he analyzes. Furthermore, he says:
“The truth is that we are not just teaching machines to trade: we are creating autonomous financial entities that could one day rival traditional institutions.”
Thejaswini, cryptocurrency market analyst.