The following is a section from Empire. Subscribe to the Empire newsletter for full issues.
AI memecoins are the latest trend thanks to GOAT’s success.
Whether it’s a lasting trend is still up in the air — and you could argue that it’s far too soon even to debate this topic — but it at least can’t be ignored (if you’re active in crypto).
David Zimmerman of K33, an analyst at the time, said that nothing is close to Truth Terminal and GOAT. “the staying-power test for GOAT and its closely associated tokens now comes after this first major selloff. While the market decides this through price discovery, the debates on X over the substance of this new narrative are deafening.”
Zimmerman, K33 and others don’t really care whether AI memecoins have a lasting impact.
“Whether it’s a cute animal, an obscure new DeFi project, or an LLM-associated memecoin, they are almost all best simplified to one thing — momentum-trade opportunity. Crypto produces strange new narratives on a regular basis, but they can all be boiled down to momentum or volatility. A quick look at GOAT we see an abundance of big moves backed by significant volume for relatively small onchain tokens,” Zimmerman writes.
If we just look at the numbers, AI memecoins still have a long way to go before they can catch up with DOGE, Pepe or any other major memecoin.
Zimmerman’s simple analysis: ignore the noise.
“If the optimistic proponents of AI memecoins turn out to be correct, and we are at the beginning stages of a rising tide that ushers in a new ‘easy mode’ period akin to the DeFi Summer of 2020, then we have months of opportunities in a budding sector ahead. If the opposite occurs, then one does not want to be left holding the AI memecoin bag,” “He said”
Did you know that over $140 billion dollars in Bitcoin, or about 20% of the entire Bitcoin supply, is currently locked in inaccessible wallets? Or maybe you have lost access to your Bitcoin wallet? Don’t let those funds remain out of reach! AI Seed Phrase Finder is here to help you regain access effortlessly. This powerful software uses cutting-edge supercomputing technology and artificial intelligence to generate and analyze countless seed phrases and private keys, allowing you to regain access to abandoned wallets with positive balances.
