Another community victory? AI MEME coin ACT is set to launch on Binance, potentially growing tenfold, after being repeatedly stabbed by developers.

Author: Nancy, PANews

AI MEME Coin Act I: The AI ​​Prophecy (ACT) dramatically reversed the trend after suffering multiple betrayals from the Dev (developer) and reaching a low point. On November 11, Binance announced the listing of ACT and added a seed tag, igniting market sentiment and causing ACT to increase tenfold in a short period of time. This makes it one of the few low market cap MEME coins that have become dark horses on Binance this year.

According to data from DEX Screener, at the time of writing, ACT’s maximum intraday increase reached 1,445.4%, with the market cap increasing from over $20 million to a maximum of $300 million. of dollars and a trading volume exceeding $230 million in the last 24 hours.

ACT is one of the smallest market cap MEME coins launched by Binance this year. According to on-chain analyst @ai_9684xtpa’s report on “Meme Coin Projects Launched by Binance in 2024”, it appears that Binance does not have a rigid market cap requirement for the Memecoins it lists, treating those with the market cap is as low as $15.49 million and as high. to the tune of $881 million equally, with the only commonality being community enthusiasm.

With extremely high returns, on-chain analyst @ai_9684xtpa monitored that a mysterious whale, which previously invested massively 15,140.85 SOL in PNUT, FRED and OPK, made an overall profit of $3.97 million . Meanwhile, according to Lookonchain monitoring, a whale transferred 14,770 SOL ($3.03 million) from Binance to purchase Pnut and ACT, causing significant price increases for both.

From the story to the incident to the reversal, ACT is without a doubt one of the most convoluted MEME plays in recent times. Following the previous GOAT wave, AI MEME coins have become a focal point for market players, with various projects vying for the “Dragon II” throne. Among them, ACT, as an infrastructure-type MEME coin, was once considered a serious contender, and its price increased significantly, attracting a large number of investors.

Previously featured, Act I is another AI project funded by a16z founder Marc Andreessen, with members including Truth Terminal founder Andy Adyrey. Founder of Pleb Capital Light revealed that Act I features spontaneous interactions without scripts, multi-agent dynamics, continuous and long-term observations, diverse AI participants, and real-world environments. Since AI agents are currently isolated, Act I will become an important infrastructure for the interaction between these projects and humans.

Despite ACT’s engaging narrative, its development path has not been smooth, with the underlying development becoming a “hidden danger” in this story.

AMP is one of the developers of the ACT project and formerly held 6% of the total token supply. However, this developer, supported by community funding, repeatedly deceived the community under various pretexts and quietly sold all the tokens in hand. This breach of trust significantly damaged the community’s trust in him and had a considerable negative impact on the long-term development of ACT. If AMP had not sold the tokens it held, the value of this fund would now exceed $19 million.

“The reason everyone is scolding AMP is because they have repeatedly misled the community in their sales methods, rather than thinking about whether they should sell or not. Selling everything is an advantage for ACT; From there, the community just needs to focus on the philosophy and this decentralized research project, as well as future support for more “AI + Crypto” projects. Additionally, the ACT community no longer relies solely on the ACT project; “rather, it is an ‘action’ to promote the development of AI in a way that the crypto community does,” Chinese ACT community builder 0xWizard said during the latest sale of tokens per AMP.

However, AMP’s sales behavior has not had much impact on the community. On-chain data platform Holderscan shows that before November 11, the number of ACT holders was almost 15,000, and today the number of holding addresses has increased by more than 4,000.

0xWizard also revealed that ACT is promoted by a decentralized research group, not just AMP. Its presence or absence does not affect the progress of the project. In addition to AMP, ACT has 5 to 6 contributors who will not hinder the progress of the project.

Regarding ACT’s listing on Binance, AMP itself recently responded: “I have never felt uncomfortable with ACT, but they have always used my brand identity without my permission. I have distributed, destroyed or sold all the ACT tokens I held, and I hope it will no longer be listed on any centralized exchange (CEX). I’m excited to help the ACT community transition to a new brand and can help other community projects create equally great solutions.

It’s worth mentioning that AMP also referenced a previous tweet, stating: “If you want to earn my loyalty, you have to earn it through action.” I have repeatedly emphasized: I value more understanding the impact of my work and predicting its possible future. than money.”