Despite being launched less than a month ago, Goatseus Maximus’ (GOAT) market cap is close to $1 billion.
According to Coinmarketcap data, the surge in market cap coincides with a 61.2% price gain over the past week. The data also showed that the AI-driven meme coin lost 5.8% in 24 hours.
This rally, fueled by rising market interest and trade volume, boosted the price of Goatseus Maximus to a new all-time high.
Goatseus Maximus 7-day Price Chart | Source: Coinmarketcap
GOAT traded between $0.7313 and $0.9406 in the past day. It reached $0.9406 on November 10 despite fluctuating between $0.4594 and $0.9228 throughout last week.
Moreover, its market capitalization reached $937 million before settling at $873.7 million at the time of writing. This increase establishes Goatseus Maximus as one of the crypto market’s fastest-growing tokens.
How GOAT Gained Popularity
Goatseus Maximus began as a collaboration between developer Andy Ayrey and Truth Terminal. Initially conceptualized during a conversation amongst AI chatbots, the initiative gained traction on social media platform X, resulting in the creation of the meme coin.
The Truth Terminal AI bot was important in the project’s viral dissemination, promoting the concept and establishing its distinction as an AI-inspired token. Following the token launch, some traders have made notable gains from its price surge, with one trader generating 3,329 returns on their investment.
Bullish Trend in the Broader Market
The increase in Goatseus Maximus’ value coincides with the current bullish trend in the broader cryptocurrency market. Bitcoin recently hit an all-time high of $81,000, boosting the global crypto market capitalization by 4.47% to $2.72 trillion.
Bitcoin posted a 3.79% price increase in the last day and a 20.62% weekly gain. This positive momentum has contributed to increased interest in altcoins such as GOAT.
Notably, GOAT’s performance is consistent with the expanding influence of AI technology and the recent uptrend in the crypto market. In addition to this meme coin, other AI coins are also experiencing fast growth.
For example, Near Protocol, the most valuable AI token by market capitalization, has increased in price by more than 41% in the last seven days. According to Coinmarketcap data, the other top gainers in this category are Injective AI (53%) and Arkham (42%).