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You’ve goat to be kidding me!
Tiny Mid-Week Update
Unhosted AG
October 23, 2024
Breaking News: A memecoin called Goatseus Maximus (GOAT) recently exploded in value, soaring to $656 million in just one week, thanks to a peculiar endorsement from an AI bot named "Truth Terminal," funded by none other than Andreessen Horowitz (a16z).
What Happened? The AI bot, designed to study memetic contagion (sounds fancy, right?), didn't launch the token but gave it an unexpected boost by endorsing it on X. Result? The memecoin surged from a mere $5,000 to a jaw-dropping $650+ million. As of today, it's keeps going stronger while the rest of the market is seeing a correction.
The Bot Behind the Meme
Truth Terminal, originally designed to jailbreak language models, grabbed $50,000 in Bitcoin from a16z to "buy a new CPU and tweak its algorithm." Instead, it stumbled across GOAT and gave it a shoutout, sending memecoin speculators into a frenzy.
Why It Matters
This AI endorsement has sparked interest in the potential for bots to move markets, especially in the volatile world of memecoins. With unique shitposts and human-like wit, GOAT might just define the next meta in the memecoin space. Is this the future of token shilling? It’s starting to look like it.
While memecoins like GOAT lack fundamental value, their explosive growth highlights the power of AI-driven marketing in the crypto space. Could this be the start of a new era where bots shape the market? Either way, it’s a crazy ride.
🛎 TL;DR: An AI bot backed by a16z didn’t create the GOAT token, but its recommendation was enough to cause a massive spike in value, proving the influence of AI in today’s crypto landscape.
Are you jumping on the memecoin bandwagon or sitting this one out? 🤔
Daily Summary - October 22
🧬 Quantum computers and cryptography: Is there a threat to the Bitcoin network?
🪙 A Bitcoin miner who started mining just five days after the blockchain launched in 2009 sold coins worth around $10 million but still holds BTC worth $72 million.
🪙 Binance continues to lose market share, yielding ground to smaller competitors.
🗽 The volume of cryptocurrency donations for the U.S. presidential election has reached $190 million.
🐸 The former CEO of the Australian crypto exchange Mine Digital has been charged with fraud for stealing $1.47 million from a client — the user transferred funds to the exchange but never received the crypto.
🤡 Today’s airdrops: processed $100,000 in trades, paid $500 in fees, and received a $115 airdrop on Scroll.
📊 Despite Bitcoin's failure to break the critical resistance level of $70,000, the Fear and Greed Index remains at 70 — Greed.
Market Movers
Here's the latest scoop on the crypto market movement that's making waves:
Change: +67.5%
Event: The price soared after the launch of its own mainnet chain, ApeChain.
Date of Movement: October 19, 2024
Change: +8.7%
Event: The launch of Deep Face technology alongside a new eye-scanning Orb triggered a rise in its price.
Date of Movement: October 19, 2024
Change: +8.2%
Event: Speculation that BlackRock might use its tokenized fund as collateral on major exchanges pushed the price upward.
Date of Movement: October 18, 2024
Seems like the crypto market is getting innovative with tech launches and backing from big financial players.
RSI Analysis
Oversold Tokens:
1. Gas (GAS)
2. Kava (KAVA)
4. SXP (SXP)
Overbought Tokens:
5. Zcash (ZEC)
While the RSI heatmap highlights the current oversold and overbought conditions for various tokens, it's crucial to remember that market dynamics can shift rapidly.
Staying informed and keeping a balanced strategy is key when navigating volatile markets.
Whether you're eyeing potential buying opportunities in the oversold zone or considering trimming positions in the overbought category, always do thorough research and adjust your approach accordingly.
Stay GOATed, and may your trades be profitable!
Dont forget to participate in our referral program bellow :)
Your Friendly Unhosted AI Team
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