A cryptocurrency trader has managed to make a 3,360% betting on a popular meme-inspired cryptocurrency, Goatseus Maximus ($GOAT), that has been heavily promoted by an artificial intelligence (AI) bot funded by Andreesen Horowitz called “Truth Terminal.”
According to data from Lookonchain, the cryptocurrency trader, which also managed to make a 226% return using another meme-inspired cryptocurrency, spent 603 SOL tokens to buy 10.7 million GOAT, meaning they invested $86,000 to acquire a stash that at one point was worth $3.75 million.
The trader has recently sold 700,000 GOAT tokens for 1,453 SOL, leaving 10 million tokens worth $2.74 million in their wallet.
This smart money made $2.88M(+3360%) on $GOAT and $411K(+226%) on $BILLY!
He spent 603 $SOL($86K) to buy 10.7M $GOAT($3.75M at peak) 6 days ago and sold 0.7M $GOAT for 1,453 $SOL($222K) in the past 8 hours, leaving 10M $GOAT($2.74M).
He also spent $182K to buy 7.3M $BILLY 4… pic.twitter.com/j2bMoKpTfs
— Lookonchain (@lookonchain) October 17, 2024
The cryptocurrency, which some in the cryptocurrency believed was created by the AI agent itself, was airdropped to it, which then proceeded to promote it. The coin was launched on Pump.fun, a popular Solana memecoin launchpad that helps prevent scams.
Its creator’s wallet address is associated with the launch of other memecoins, and doesn’t belong to Truth Terminal, which operates semi-autonomously. It has a human handler approving its posts on social media.
The bot’s creator, Andy Ayrey, has said it’s operating a “fine tune on top” of Meta’s Llama 3.1 language model and was “originally intended to be a way” for him to “automate jailbreaking other LLMs to say naughty things.”
The trader that made $2.88 million with GOAT also spent $182,000 to buy 7.3 million $BILLY tokens, and sold them all later on for $593,000, leading to a $411,000 profit, or around 226% on their initial investment.
Featured image via Pixabay.
