Lin, Chengkai;
Gong, Hui;
(2024)
Generative AI and Memecoin Evolution: Bridging Technology and Culture.
Financial Engineering and Risk Management
, 7
(6)
pp. 85-104.
10.23977/ferm.2024.070612.
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Abstract
The advent of generative AI, particularly marked by the introduction of ChatGPT 3.5, has catalysed a profound transformation in the memecoin market. This study explores the impact of these AI advancements on both older and newer memecoins, leveraging price data, Google Trends insights, and key AI industry events. Our findings reveal a significant post-Singularity shift, with newer memecoins such as PEPE, WIF, and BONK exhibiting heightened sensitivity to AI trends compared to their older counterparts like DOGE, SHIB, and FLOKI. This increased responsiveness is attributed to the rapid integration of AI tools in content creation and community engagement, which has fuelled market dynamics and amplified cultural significance within digital communities. The study underscores the pivotal role of generative AI in driving the evolution of memecoins, heralding a new era of digital finance and cyberculture.
| Type: | Article |
|---|---|
| Title: | Generative AI and Memecoin Evolution: Bridging Technology and Culture |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.23977/ferm.2024.070612 |
| Publisher version: | https://doi.org/10.23977/ferm.2024.070612 |
| Language: | English |
| Additional information: | All articles from Financial Engineering and Risk Management (FERM) have "free availability on the public internet, permitting any users to read, download, copy, distribute, print, search, or link to the full texts of these articles, crawl them for indexing, pass them as data to software, or use them for any other lawful purpose, without financial, legal, or technical barriers other than those inseparable from gaining access to the internet itself." (From the BOAI Definition of Open Access) |
| Keywords: | Generative AI, Memecoins, GPT, PEPE, Attentionomics |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of Engineering Science > Dept of Civil, Environ and Geomatic Eng |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10217467 |
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