GOAT and TURBO control 60% of AI meme coin market
GOAT (CRYPTO:GOAT) and TURBO (CRYPTO:TURBO) have emerged as dominant players in the AI meme coin sector, capturing over 60% of the trading volume in October.
According to data from CoinGecko, the total market capitalisation for AI meme coins reached nearly $1.9 billion, driven by a 9.5% rise as of October 23.
Daily trading volumes exceeded $590 million, with the two leading tokens, GOAT and TURBO, contributing $360 million to the total.
AI meme coins, which are primarily created or promoted by AI tools, have gained significant attention among traders.
GOAT and TURBO have established themselves as the top tokens, with most other AI meme coins showing lower liquidity and trading volumes of under $1 million.
TURBO, which was created using ChatGPT, and GOAT, promoted by the AI-operated ‘Terminal of Truths’ account, saw notable price gains, reflecting the community’s growing interest in this niche market.
According to data from Kaito, discussions around AI and meme coins accounted for over 60% of the crypto community’s discourse in October.
Investor Miles Deutscher noted, “Fifty percent mindshare for AI. I’ve never seen anything like this before,” highlighting the growing fascination with the intersection of artificial intelligence and meme coins.
Despite controversies, GOAT reached a new all-time high (ATH) of $0.571, with its market cap exceeding $570 million.
The surge followed a recovery from a 50% drop last week due to errors by the ‘Terminal of Truths’ account, which raised concerns.
However, the token bounced back, recording over $337 million in daily trading volume, primarily from the GOAT/SOL pair on Raydium (CRYPTO:RAY).
At the time of reporting, the Goatseus Maximus price was $0.6177, and the Turbo price was $0.009283.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After the "Black Week" for tech stocks, Wall Street calls for "bottom fishing"
Morgan Stanley has made it clear that "the next two to three weeks are the time to increase positions." Ed Yardeni characterizes the current downturn as a "correction" rather than the bursting of a bubble. Major Wall Street institutions have an average year-end target for the S&P 500 of 7,973 points. However, most strategists believe that the direction of AI policy remains the largest variable.
CoreWeave writes to Texas governor-elect seeking "data center consultation"
In this open letter, Michael Intrator stated that CoreWeave "strongly supports" Hinojosa's principled position that the growth of data centers must benefit the people of Texas. "We welcome the opportunity to work with your transition team to responsibly advance approved projects and to establish clear and lasting standards for future developments," he said.
What Would Bitcoin Look Like Without the Trump Effect?
Crypto prices
More
