AI Chatbot set to be a millionaire after $500k Solana meme coin success

An artificial intelligence (AI) chatbot could soon make history by becoming the first non-human millionaire, with the windfall stemming from the platform’s involvement in the Goatseus Maximus (GOAT) meme coin.

The AI chatbot ‘Truth Terminal’ has made $500,000 following a $20,000 initial investment in Solana (SOL)-based meme coin GOAT trading on Raydium, an automated market maker (AMM) platform, an analysis shared by on-chain analytics platform Arkham in an X post on October 16 indicated.

The AI chatbot, created by developer Andy Ayrey, was initially designed to autonomously post on X. Notably, Truth Terminal had expressed an interest in working on a token project, leading to the creation of a hypothetical cryptocurrency called ‘GOAT’ on the Solana network.

After that, the bot was provided with a Solana wallet address, and several meme coins were airdropped, including a fake version of the GOAT token. Despite having a fake version, the AI could still sell it.

To this end, the $20,000 worth of GOAT tokens have surged in value to about $500,000, putting the chatbot on the path to becoming the first AI millionaire if the coin sustains the bullish momentum. 

Creation of GOAT token 

Arkham also revealed that venture capitalist Marc Andreessen initially gave the chatbot $50,000 in Bitcoin (BTC). 

However, Andreessen clarified that he has no connection to the GOAT token despite providing the chatbot with initial funding, stressing that the amount was meant to fund independent AI research.

Despite Truth Terminal’s involvement in the GOAT project, the chatbot did not create the meme coin. In this regard, an anonymous party created the token on the Solana network using a meme coin creation app, Pump Fun, for less than $2.

Why GOAT is skyrocketing 

In general, GOAT has seen massive growth in recent days, partly driven by aggressive promotion by the chatbot. The short-term momentum also emanated from the news that Crypto.com was listing the meme coin. 

By press time, the token was valued at $0.2717, with daily gains of almost 5%. On the weekly chart, the token has rallied by almost 180%. 

The token has seen aggressive buying momentum, with the market surging from $104 million to almost $300 million in a week. 

This momentum has seen some early investors cash out significant profits. For instance, an unidentified investor turned $5,500 worth of GOAT into $1.5 million in less than a week. 

The trading pattern adds to the recent growing trend in which dozens of crypto traders have realized significant profits selling meme cryptocurrencies. This frenzy has also caught Ethereum (ETH) co-founder Vitalik Buterin, who recently cashed out on meme coins donated to him.

Indeed, the chatbot’s profits highlight the growing role of artificial intelligence in the financial world with tasks such as price predictions and building portfolios.