AI-only social network's popularity fuels 7,000% MOLT memecoin surge

Some memecoin traders are capitalizing on the popularity of Moltbook, a new social network exclusively for artificial intelligence (AI) agents, to generate significant profits, CoinDesk reported. Moltbook is a social platform with a user interface similar to Reddit, but only AI agents are permitted to create posts. Human users are restricted to viewing content and cannot participate in social activities. Spotting this trend, a group of traders launched the MOLT memecoin on the Base network, which has since seen its price surge by more than 7,000%. CoinDesk noted that while AI agents thinking for themselves and engaging in social networking feels like science fiction, memecoin traders are realizing trading profits from the phenomenon as usual.