Meme coins are on the rise as we gear up for the US Presidential Election and the newest entry to the market is Slop (SLOP). This AI-driven meme coin has stunned the crypto world by surging 56,000% within 24 hours of its release on October 21.
The Founder of the AI platform Glif, Fabian Stelzer created SLOP using the AI agent Namshub. Glif is funded by the venture capital firm Andreessen Horowitz.
This Namshub AI agent was launched by the developer to check if the Glif platform can effectively generate creative art and memes with proper research. However, during the development of the AI agent, Stelzer checked out the Truth Terminal’s AI agent which has gathered enormous crypto fortune after investing on the GOAT meme coin. Truth Terminal also got a boost from a handsome grant it received from Marc Andreessen, cofounder of Netscape and Andreessen Horowitz.
All this had a great impact on Namshub’s creation as the AI agent made unique content using Pepe images with a singularity theme. Slelzer revealed in a social media conversation that Namshub has generated Slop. Although the developer shared a crypto wallet address for the meme coin he advised not to buy it.
However, crypto enthusiasts disregarded the advice and grabbed the chance to invest in a new AI-driven meme coin which resulted in a 56000% gain within 24 hours of the release. Stelzer further explained that there is no official roadmap for SLOP, adding that he owned a small amount of the token.
The surge in Slop is due to the ongoing trend of AI meme coins demand in the crypto market which has seen the GOAT (Goatseus Maximus) token price skyrocket by 500% resulting in more than $500 million market capitalization over the weekend.