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.