cryptopolitan.com
Wintermute, one of the prominent market makers with forays into meme tokens, has taken up the bot-inspired sensation, GOAT. The market maker received tokens from some of the top holders, and became the third-largest whale.
GOAT will feel the effect of Wintermute, after the market maker received tokens from some of the biggest wallets. The token, which was magnified by the bot-generated lore of @truth_terminal, is gaining popularity by the hour. The Wintermute wallet was still inactive as of October 18, but may connect to exchanges at any moment. GOAT already formed a trading cluster around MEXC, possibly sparking more wallet activity in the coming days.
Wintermute jumped into the Solana version of GOAT, which has a slightly different ownership composition compared to the Ethereum version. GOAT on Solana is bridged and not native, making use of the cheaper transactions and bribes for faster trading.
The inclusion of Wintermute recalls its previous involvement with Neiro (NEIRO) (community-owned). It was involved just before NEIRO gained a Binance spot market listing. Wintermute is seen as a legitimate market-maker, creating traffic and providing liquidity for multiple older assets from several trends, including L2 projects, GameFi and older tokens from previous bull markets.
The inflow of GOAT tokens into known Wintermute Solana wallets is not a coincidence. Its not the usual practice of airdropping new memes to prominent wallets. This time, the transfers were significant and deliberate, with 10M GOAT in Wintermute’s wallets.
GOAT reaches new all-time high
Goatseus Maximus (GOAT) went from zero to a market cap of $360M within days. GOAT rallied to $0.36 based on the effect of Solana-based trading. The token’s initial phase went through Uniswap V2, where it hovered sideways for a year before its social media breakout. During its recent price breakout, Raydium and Orca took the bulk of the activity, tapping the Solana meme craze.
GOAT has not been promoted by any influencers, and is an outsider to the pack of the hottest cat and dog tokens. Compared to previous meme trends, GOAT looks like a rogue asset, which nevertheless helped produce multiple high-value holders.
For now, GOAT may not gain Tier1 listings or gain mainstream acceptance. However, the token has created a trend of AI-generated and absurd memes, which perform exactly like well thought out tokens. Shock value and hype help those tokens break out, along with bot-driven promotion.
The next cult-like token to emerge from the @truth_terminal ramblings is Gospodin, a wholly AI-generated concept with no reasonable explanation. Gospodin has already graduated to Raydium with a SOL trading pair, though the pair is yet to draw maximum hype.
Token creators hijack and tokenize social media content
The creation of tokens based on X hype also means no account is safe from unknowing tokenization. Recently, X account @arithmoquine noticed a token had been created, pumped and rugged within hours. At its peak, the new asset was valued at $400K and still holds $21K in liquidity. The token creator apparently singled out Henry for the X messages that some consider to also be bot-generated, containing absurdist humor, or inside jokes.
Since it is relatively easy to create a pump.fun token, anonymous creators may seek out active online communities and prominent accounts. This approach competes with the carefully curated online personas, where even big influencers are reluctant to just launch a token.
The phenomenon goes beyond crypto influencers like Murad Mahmudov, who had multiple tokens created under his brand by unknown third parties. Instead of building a memetic following, token creators may simply steal an account’s following and appropriate it to their token. Even relatively small accounts can get their 15 minutes of meme token frenzy, if it means a fast rug pull for the creator.
Pump.fun has already created more than 2.4M tokens, of which 99% will fail to even move to Raydium. In the past week, 25K new tokens per day were created, bringing back the practice of aping into new assets with the hope of making it big.
The most recent batch of tokens, however, does not even go through the phase of creating content to boost the token’s social media footprint. Instead, tokens are seeking out viral or promising content, to gain an instant social media footprint.