Goatseus Maximus (GOAT) Becomes First Pump.fun Token to Hit $1B Market Cap

The Goatseus Maximus (GOAT) crypto token has surged dramatically in recent weeks after consistently reaching new highs. On November 12, the GOAT crypto achieved an all-time high price of $1.03, bringing its total market capitalization to over $1 billion, making it the first Pump.fun token to reach that milestone.

The Goatseus Maximus (GOAT) crypto token has seen a dramatic surge in recent weeks, consistently reaching new highs. On November 12, the GOAT crypto achieved an all-time high price of $1.03, bringing its total market capitalization to over $1 billion, making it the first Pump.fun token to reach that milestone.

The GOAT token has gained popularity as the first meme coin developed by the artificial intelligence tool Truth Terminal. Since its launch, it has outperformed several other meme tokens, including BOOK OF MEME (BOME), Cat in a Dog’s World (MEW), and others.

Data shows that the Goatseus Maximus token has risen by 3% in the last 24 hours after experiencing a 15.4% drop from its all-time high of $1, reached just about 12 hours before this report. Nevertheless, it remains one of the top-performing cryptocurrencies, surging by over 782% in the last 30 days.

Goatseus Maximus (GOAT) weekly price chart | TradingView

This remarkable performance happened even though the token was initially created as a joke on Pump.fun, outpacing the performances of millions of other tokens generated on the memecoin-creating platform.

Read more: Will Bitcoin Reach $100K in 2024? Bullish Indicators Show Strong Signs

Goatseus Maximus becomes first Pump.fun token to hit $1 billion market cap

Pump.fun has gained traction in recent months due to its unique approach, which allows token creation without requiring knowledge of smart contracts.

Data reveals that more than 3 million different tokens have been introduced on Pump.fun, with an average of 10,417 new tokens emerging every 24 hours.

Yet, among these millions of memecoins, only a select few gain attention, while over 9,000 out of every 10,000 quickly become inactive.

The leading AI-inspired token, GOAT, recently stood out by achieving a market capitalization of $1 billion.

congratulations to the $GOAT 🐐@truth_terminal is officially the first pump fun coin to hit a $1bn market cap 🤯

that's around 222,222x in just 1 month!!!!

this begs the question… who's next? pic.twitter.com/zMr86rXibg

— pump.fun (@pumpdotfun) November 12, 2024

The Pump.fun team shared the excitement with their followers on X (Twitter), announcing that $GOAT is the first Pump.fun coin to reach this milestone, placing it among the top 100 coins.

GOAT coin price prediction

The GOAT cryptocurrency has seen a slight decrease from the $1 billion milestone it reached on November 12. As of this writing, its market capitalization is $850,436,926.

This is completely normal, considering that the global cryptocurrency market has also experienced a minor drop of 1.04% from the $3 trillion mark reached yesterday, with Bitcoin (BTC) sliding from nearly $90,000 to approximately $87,000 at the time of this report.

At present, the sentiment surrounding GOAT is varied. The recent drop dampened the initial enthusiasm following the price increase. However, the general trend remains optimistic, as the coin continues to perform well above important moving averages.

The GOAT token is currently trading above its 50-day moving average, which indicates a bullish trend in the short term. It is also above the 200-day moving average, hinting at a positive long-term outlook.

On the other hand, the RSI is at 65, nearing the threshold of overbought conditions. This indicates that the coin may soon face selling pressure.

Read more: Best Solana (SOL) Memecoins to Watch in 2024