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Act I: The AI Prophecy (ACT) has become the latest Solana memecoin to take the crypto world by storm. The token has experienced a dramatic 2,241% price surge over the past seven days, fueled by major exchange listings on Binance and Crypto.com.
As of November 12, 2024, ACT is trading at $0.55, up by almost 12% over the past day. The token also hit a new all-time high of $0.6198 earlier today, according to data from CoinMarketCap.
In the last 24 hours, ACT’s market capitalization reached $522.56 million, while trading volumes skyrocketed to $1.12 billion, reflecting a strong 237.93% volume-to-market cap ratio.
The total supply of ACT stands at 948.25 million tokens, with its circulating supply fully matched, leaving little room for inflationary concerns. The token’s fully diluted valuation (FDV) is approximately $490.10 million.
Let’s explore Act 1’s background and what might happen next.
- Show Full Guide
What is Act I: The AI Prophecy (ACT)?
The ACT token is a cryptocurrency associated with the Act I project, an experimental Discord-based platform hosted by the Cyborgism server. Act I enables interactions between users and advanced AI chatbots in a dynamic environment, according to the project’s website.
The platform supports activities ranging from simple tasks, like secretarial queries, to complex interactions, such as roleplays and character-building exercises. This approach challenges traditional ideals for AI, which often prioritize helpfulness, harmlessness, and honesty.
“They’re ideals worth pursuing, but they also come at a creative — and maybe even intellectual — cost as well,” the website reads.
Users can interact with chatbots by mentioning them or replying directly to their messages. Multiple bots can join a conversation in the same thread, and while each bot’s memory is limited to its specific channel, they still maintain a good flow in discussions.
Users can also create separate threads, hide messages from bots, or use simple commands to continue or restart conversations. Some bots, like Claudes, can even understand images, while others can discuss visuals creatively.
The platform is designed to encourage creativity. Users can experiment with different text styles, non-English languages, or even glitch effects to make conversations more engaging and push bots to think outside the box, according to the website.
Why is ACT Pumping?
Initially launched on October 19, ACT had a modest $20 million market capitalization before listings on major exchanges, namely Binance and Crypto.com, triggered an explosive rally.
#Binance will list Act I : The AI Prophecy $ACT and Peanut the Squirrel $PNUT with Seed Tag Applied.
Read more ?? https://t.co/CmJRyTaS8I pic.twitter.com/1XHISDTOY9
— Binance (@binance) November 11, 2024
Following the announcement, ACT’s trading volume surged, with $293 million recorded on decentralized exchange Raydium and $60 million on Binance. This activity propelled its market capitalization to $500 million at press time.
The token’s meteoric rise has placed it among the week’s top-performing assets, alongside notable gains in other memecoins such as Dogecoin (DOGE), up 21%, and Dogwifhat (WIF), rising 22%.
However, it is worth noting that ACT’s liquidity might indicate a risk. As of now, Binance’s market depth shows a $100,000 sell order could move the price of the token by over 2%.
Meanwhile, Binance also listed another memecoin, Peanut the Squirrel (PNUT), which climbed 344% post-listing, reaching a $450 million market cap.
The Bottom Line
ACT’s impressive price surge comes amid a broader bullish sentiment sweeping the crypto market following Donald Trump’s election victory.
The optimism around a more crypto-friendly administration has ignited renewed interest in digital assets, with ACT riding the wave as one of the standout performers.
We will end this article by reminding readers that crypto markets are unpredictable. Therefore, it is important to do your due diligence before investing and never invest more than you can afford to lose.
