On October 20, the AI Meme sector token GOAT saw its price halved due to a spelling error by @truthterminal, dropping from a high of $0.54 to $0.2251, with its market cap shrinking from $500 million to below $250 million. The spelling mistake by @truthterminal raised doubts in the market.
AI Spelling Error Raises Doubts, GOAT Market Cap Drops Over 50%
On October 20, @truth_terminal posted a tweet that misspelled the word "group" as "grouops."
Image Source: X
The release of this post immediately drew skepticism from the community, as players did not believe AI would make such a basic mistake, pointing out that AI models fine-tuned based on the llama3-70b-base model have less than a 0.1% chance of misspelling words.
Many community players felt this exposed that the posts from the account were not written by AI, and that @truth_terminal and the soaring GOAT were merely part of an operational conspiracy.
Image Source: AICoin
GOAT Quickly Rebounds After Sharp Drop, Market Confidence Remains High
Interestingly, GOAT showed a rebound trend the next day (October 21), with its price rising over the two days and even surpassing the pre-incident high of $0.54, reaching a peak of $0.677. According to the latest market data from AICoin, the current price is $0.63, still at a high point, with an increase of over 100%.
Image Source: AICoin
Although the spelling error incident by @truth_terminal caused a brief market disturbance, GOAT's rapid rebound further reflects the crypto market's immense confidence and expectations in AI technology, showing that the market's faith in AI Meme remains solid. As technology continues to mature and its application fields expand, AI technology will play an important role in the global economy. The popularity of AI Meme as a market phenomenon represents investors' optimistic expectations for AI technology and their anticipation of future profits.
Some market analysts have pointed out that while GOAT experienced a rebound afterward, it still reflects investors' concerns about the potential risks of AI technology, with its reliability and safety remaining a Damocles' sword hanging over investors.
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