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‘AI Meme’ makes trader a millionaire: check out the biggest bets in the new sector
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“Ah, this is Shoggoth. It’s the most important AI meme.” This was the speech of an executive from San Francisco, in the United States, who brought a revolution in the Artificial Intelligence (AI) segment.
Forget about chatbots and computing clusters. The fashion now is to transport great innovations to the cryptocurrency sector, especially in memecoins. This is how the “Meme AI” sector emerged, which features memecoins inspired by artificial intelligence themes.
But why are people in the AI world talking about Shoggoth and what is its relevance? As the token skyrocketed in value from DEX Screener and reached US$86 million in market value, it’s time to understand. And, of course, learn about other opportunities in this sector, such as the Pepe Unchained and Crypto All Stars tokens.
According to its enthusiasts, the SHOGGOTH memecoin is a “vivid visual metaphor for how a great language model (the kind of AI system that powers ChatGPT and other chatbots) really works.”
From Lovecraft to Meme Coins
But it was only partially a joke, he said, because it also hinted at the anxieties many researchers and engineers have about the tools they are building.
Interestingly, Shoggoth is also the name of an entity present in the horror stories of the American writer HP Lovecraft, especially in the short story The Call of Cthulhu. According to the description, Shoggoths are entities that do not have a defined shape, adapt to any environment and can even imitate parts of the human body.
Originally, the Shoggoths were created as servants by the Ancients, an extraterrestrial race present in Lovecraft’s works. However, these creatures eventually rebelled against their masters, symbolizing the fear many people have of AI.
This union between memecoins, Lovecraftian pop culture and AI fit SHOGGOTH like a glove, which soon saw its price rise. A few days after launch, memecoin reached almost US$90 million in market value.
A trader saw an opportunity and bought US$1,548 in SHOGGOTH, an amount that turned into more than US$1 million in less than a month. According to transaction data from Solana, the trader bought SHOGGOTH very early on, when its market value was less than $100,000.
However, his timing was impeccable, and within 24 days his initial bet skyrocketed, mirroring the meteoric rise that meme coins have been experiencing recently. Since then, Shoggoth has gone viral, or as viral as it’s possible to go in a nascent industry like Meme AI.
‘AI Meme’ makes trader a millionaire: check out the biggest bets in the new sector
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‘AI Meme’ makes trader a millionaire: check out the biggest bets in the new sector
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‘AI Meme’ makes trader a millionaire: check out the biggest bets in the new sector
