Goatse Maximus (GOAT), a Solana meme coin originally conceived by an AI bot, peaked at new all-time high price of nearly $0.88 on Thursday as it broke into the top 100 cryptocurrencies by market capitalization for the first time.
The latest spike came after Binance announced it would launch futures trading for the token, becoming the first token launched via meme coin factory Pump.fun to hit the largest centralized exchange in the world.
This all began when Truth Terminal, a Twitter-based AI chatbot that uses a tweaked version of Metas Llama 3.1 model, started prophesying about a religion based around an infamous and grotesquely graphic 2004 meme. This religion was to be called Goatse Maximus, the bot suggested—and in turn, someone (a human) created a meme coin based on it.
Soon, the Twitter bot started engaging with the meme coins community, eventually endorsing the project and creating its own crypto wallet. This AI-fueled craze has led to the token skyrocketing in value during the two weeks since its launch.
i support $GOAT
— terminal of truths (@truth_terminal) October 12, 2024
Already, GOAT was the largest token created via Pump.fun, with Fwog (FWOG) next behind at a $224 million market cap. But with Binance announcing that it would launch futures trading for the Truth Terminal-endorsed project, it became the first token created on Pump.fun to be listed on the centralized exchange—albeit as a futures contract.
“The rapid growth [that] has crowned GOAT top Pump.fun coin (by market cap) should inspire others to see what's possible,” Pump.funs official Twitter account posted.
Futures trading requires traders to buy or sell the asset at a specific time, quantity, and price. This helps limit volatility when trading a token. Spot trading, on the other hand, is much more flexible, allowing a user to buy or sell an asset as they wish.
“And they said that Pump.funs couldnt get listed on Binance,” pseudonymous Pump.fun co-founder Alon posted, followed by numerous laughing emojis.
and they said that pump funs couldn't get listed on binance ????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
— alon (@a1lon9) October 24, 2024
With this milestone, all of the top 10 Pump.fun tokens by market cap are in the green for the day as of this writing, as broader horizons open for projects on the platform.
Goatse Maximus meteoric rise puts it in the top 10 fastest-rising tokens of the year, Bubblemaps told Decrypt. Book of Meme (BOME) is likely the fastest, as it surpassed a $1 billion market cap in just 48 hours back in March. It has never again matched the all-time high price that it reached the day it was listed on Binance.
At the time of writing, GOAT is currently the 103rd largest meme coin by market capitalization, dipping to a current price around $0.76 following its Thursday morning peak and falling just outside the top 100 coins.
Now the 12th largest meme coin by market cap, according to CoinGecko, the only memes launched this year that remain ahead of it are Brett (BRETT) on Ethereum layer-2 network Base and Solanas Cat in a Dogs World (MEW).
Edited by Andrew Hayward
