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Thanks to the success of GOAT, thereâs a new trend in town: AI memecoins.Â
Whether itâs a lasting trend is still up in the air â and you could argue that itâs far too soon even to debate this topic â but it at least canât be ignored (if youâre active in crypto).
As of now, nothingâs coming close to GOAT and Truth Terminal, but K33 analyst David Zimmerman pointed out that âthe staying-power test for GOAT and its closely associated tokens now comes after this first major selloff. While the market decides this through price discovery, the debates on X over the substance of this new narrative are deafening.â
For Zimmerman and K33, it doesnât matter if AI memecoins are truly here for good.Â
âWhether itâs a cute animal, an obscure new DeFi project, or an LLM-associated memecoin, they are almost all best simplified to one thing â momentum-trade opportunity. Crypto produces strange new narratives on a regular basis, but they can all be boiled down to momentum or volatility. A quick look at GOAT we see an abundance of big moves backed by significant volume for relatively small onchain tokens,â Zimmerman wrote.Â
And if weâre just looking at the data, AI memecoins have quite a ways to go to catch up to DOGE, PEPE or any of the major memecoins.Â
Zimmermanâs analysis is simple: Ignore the noise.Â
âIf the optimistic proponents of AI memecoins turn out to be correct, and we are at the beginning stages of a rising tide that ushers in a new âeasy modeâ period akin to the DeFi Summer of 2020, then we have months of opportunities in a budding sector ahead. If the opposite occurs, then one does not want to be left holding the AI memecoin bag,â he said.
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