Goatseus Maximus (SOL: $GOAT) is a meme coin that has been heavily promoted by an AI agent via an X account. Since it went live in mid-October 2024, the GOAT meme coin has pumped over 500%. This article examines whether GOAT could potentially rise to a $1 billion market cap by the beginning of 2025.
The Goatseus Maximus Origin Story
GOAT traces its origins to March 2024, when Andy Ayrey, a developer, launched “The Infinite Backrooms,” a dialogue between a pair of AI models. The two models came up with the concept of “GOATSE GNOSIS,” a meme based on the popular goats meme.
In June, the developer turned those conversations into an AI agent called Truth Terminal on X. The project caught the attention of angel investor Marc Andreessen, who donated $50K to the project in Bitcoin.
In October, an anonymous creator of the $GOAT token tagged it, requesting it to talk about the token. The AI agent endorsed the meme coin, and soon after, a cult-like following formed around the GOAT token.
After the AI agent received some meme coin tokens in an airdrop, it became the first AI agent millionaire. Its creator, Andy Ayrey, recently mentioned the GOAT meme coin in an X post.
GOAT Maximus Price Performance
Since its launch in mid-October 2024, $GOAT has appreciated by 544.94% as of Friday, October 25, 2024. The meme coin has a market cap of $689.36 million and a price of $0.6904 per token. On Thursday, October 24, the token had soared over 129% to reach a new all-time high. It has a total supply of 1 billion coins and a 24-hour trading volume of $530.11 million. The meme coin is trading at a 21.96% discount to its all-time high of $0.8837.
Could GOAT Reach $1 Billion Market Cap By 2025?
The current price of GOAT is around $0.7 per token. To get to a $1 billion market cap, it would only need to rise 30%. The token has appreciated 83.18% in the past seven days and is now amongst the top 20 meme coins by market cap. Additionally, it has recently made it to the top 100 cryptocurrencies by market cap.
Based on this performance, getting to the $1 billion market cap seems plausible. However, one downside to this rise is the token’s distribution, which, according to data on CoinCarp, the top ten holders of GOAT own 11.53% of the total supply. Diving further into the data, the top 100 wallets own 46.26% of the total supply.
It is thus plausible that whales are the main force behind the recent rise of GOAT. Any movement by the whales could severely undercut the price of GOAT in the medium. Consequently, while a rise to $1 billion is possible, it could also experience a major pullback as the whales take profit.
Is Now A Good Time To Buy Goatseus Maximus (GOAT)?
The Goatseus Maximus meme coin is trading close to the all-time high of $0.8837, achieved on Thursday, October 24, 2024. It has already made major strides, breaking into the top 100 after being listed on Binance. While it could face some short-term pullback, the move toward $1 is potentially possible if it holds its current support level. However, as with any meme coin investment, investors should do their own research when making any such decisions.
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