On Monday, October 21, the meme coin Goatseus Maximus (GOAT) saw a 50% decline in its value as its trading point went down from $0.40 to $0.20. This sudden dip in GOAT prices was due to concerns related to the AI-driven platform “Terminal of Truths”.
Human intervention in the June 2024 launched “Terminal of Truths” platform compromised the system, resulting in audience engagement problems with the GOAT token.
However, despite the plunge, Goatseus Maximus was back on its feet by the end of October 21 as it traded at $0.3683 with a market cap of $368.5 billion.
On closer inspection of the 50% dip in GOAT, we understand the problems with the “Terminal of Truths” platform which started as “The Infinite Backrooms,” an endless dialogue between two AI models called Claude-3-Opus in March this year. Later in June, this was enhanced to launch a new AI model which interacts with crypto users on social media platform X.
The current Terminal of Truths platform isn't directly involved in creating or managing Goatseus Maximus meme coins but the token is heavily promoted through it, generating market sentiments for GOAT.
Due to typos in the Terminal of Truths’ posts on the X platform, many were speculating it might not be AI-operated which led to the drop in GOAT prices. However, after the developer clarified that the platform made typos because of the predictive nature of LLM models”, the meme coins bounced back to $0.38
As of October 22, Goatseus Maximus (GOAT) is trading at $0.4378 up 19.46% in the last 24 hours with a trading volume of $188.41 million which is down by 46.20% suggesting an increased investors’ interest in the meme coin. At present, GOAT’s market capitalization stands at $437.45 million showing an 18.78% gain in 24 hours.