Memecoins are cryptocurrencies based on popular internet memes and viral trends. Their journey continues to innovate and develop a long-term niche and presence in the expanded digital asset spaces. Of all the recent surprising phenomena, perhaps the most fascinating is the emergence of memecoins developed or driven by AI. That trend is providing another layer of intrigue to an already fascinating and volatile market. AI-inspired tokens are all the rage these days. They’re being driven by passionate civic advocacy, hot social media hype, and glamorous new pilot projects.
Fartcoin (FART) is one of the best examples of this fad. This memecoin was developed by Truth Terminal, an AI chatbot. Once launched, the memecoin took the world by storm. It rocketed to the top of the memecoin craze by market cap, trailing only behind Shiba Inu. Fartcoin is the only layer 1 memecoin. Unlike most other cryptocurrencies, it does not use liquidity pools, smart contracts, or blacklist wallets.
Turbo (TURBO) is another major AI-rooted memecoin. We developed it with support from GPT-4, an advanced AI language model. Currently built using the Ethereum blockchain, Turbo has a total supply of 69 billion tokens. The creative project is centered on understanding decentralization. It hopes to lure digital creators and artists by providing a TURBO-powered marketplace where creators can buy, sell and auction digital art and collectibles.
Outside of the AI-driven newcomers, the memecoin craze is booming with many other contenders. Each one has a unique branding and culture. Ponke (PONKE) Ponke, which debuted on the Solana blockchain, stars a cheeky character characterized as ‘degenerate gambler with anger issues. About Apecoin (APE) Apecoin (APE) serves as the primary token of the APE ecosystem. It’s highly integrated with the Bored Ape Yacht Club NFT collection, which adds value and utility to its holders. Floki (FLOKI) Floki emerged as a meme-based homage to Dogecoin. Today, it has evolved into a strong ecosystem that includes decentralized finance (DeFi), education, games, and real-world use. Another significant aspect of FLOKI is its play-to-earn Metaverse game, Valhalla.
Pepe (PEPE), created in 2023, is based on the “Pepe the Frog” meme and functions on the Ethereum blockchain. This community-focused meme coin leans heavily into the nostalgia aspect, capturing the hearts of internet culture fans. #6 – Pudgy Penguins (PENGU) Pudgy Penguins is a fun and colorful memecoin representing the widely popular Pudgy Penguins NFT project. It has a cool total supply of 88.88 billion tokens. Wojak (WOJAK) Wojak is another memecoin that uses the popular and adaptable “feels guy” meme.
By creating an irreverent and self-aware art project, memecoins embody the best spirit of the internet. They included a great cultural marketing phenomenon—industry shorthand for memes, trends, and energy du jour. Partly, I think, due to community sentiment and social media hype, these projects have become extremely valuable. Consequently, they can be extremely volatile and have wild price fluctuations in short time spans. For many newer investors, memecoins offer a lighthearted and highly speculative entry point into the broader cryptocurrency space. To some, they are nothing more than speculative assets that do not provide any real-world utility.
The introduction of AI-inspired memecoins such as Fartcoin and Turbo further complicates this nascent environment. One way they hope to do that is by utilizing AI technology to set their projects apart from others and provide innovative use cases or capabilities. As with all memecoins, they are highly risky, highly speculative assets, and investors should proceed with caution and always do their own research before investing in such tokens. Truth Terminal’s Fartcoin truly embodies the spirit of the memecoin, setting itself apart from the pack. Unlike many other cryptocurrencies, it doesn’t have liquidity pools, smart contracts, or blacklisting wallets. Turbo uses GPT-4 to help digital creators express their creativity. It’s the kind of approach that should be driving AI’s exhilarating potential to create new generative AI-powered crypto projects.
The memecoin market is still a vibrant and rapidly-changing environment, driven by creativity, speculation and intense community passion. Our new AI technology is moving quickly and evolving even faster. For this reason, we are bound to see more AI-inspired memecoins, creating a haze between artificial intelligence and decentralized finance.
