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Cryptocurrency News Articles
Goatseus Maximus (GOAT), a Solana Meme Coin, Captures the Attention of Crypto Whales
Oct 19, 2024 at 01:00 am
GOAT, a Solana meme coin, has captured the attention of crypto whales following a 260% price surge over the past 30 days.
Solana meme coin Goatseu Maximus (GOAT) has seen a 260% price increase over the last 30 days, grabbing the attention of crypto whales. On October 15, GOAT was trading at $0.10.
At the time of writing, the meme coin trades at $0.40. The rapid price appreciation suggests that GOAT might be a key player within the meme coin domain. But how high can these large-scale investors take it?
Whales Buy the New Shiny Solana Meme Coin in Bulk
According to Lookonchain, a crypto whale purchased $4 million worth of GOAT tokens on Binance. This isn’t the first time the investor has shown confidence in the Solana meme coin.
Previously, addresses linked to the same whale revealed a $3.07 million investment in over 10 million GOAT tokens. Usually, when whales make large-scale purchases of a token, it creates a ripple effect, attracting more retail investors to buy in.
However, the opposite is also valid — when whales dump their holdings, retail investors often follow, leading to sharp price declines. In the case of the meme coin, the whale’s consistent large-scale purchases are driving speculation of a sustained price increase. If this accumulation continues, then the meme coin might evade a drawdown.
Read more: How to Buy Solana Meme Coins: A Step-By-Step Guide
Moreover, on-chain data from Santiment reveals a massive spike in GOAT’s social dominance, a key indicator of rising interest.
High social dominance often correlates with higher price values. This is because increased online discussions typically lead to greater demand for a token. When social dominance is low, however, conversations about the meme coin diminish, signaling waning investor interest.
Given GOAT’s current surge in social dominance, there’s a strong likelihood that the price could continue to rise as more attention and demand builds.
GOAT Price Prediction: 15% Increase Coming
A closer look at the 4-hour technical setup for Goatseu Maximus suggests that the meme coin has significant potential for further gains. The token has established a strong support level at $0.30, which has held firm.
Prior to this, bulls successfully defended the $0.20 zone, which played a crucial role in driving GOAT’s price up to $0.40. Given the current trend, bulls still appear to be in control, and as long as this momentum is maintained, GOAT could potentially rally even higher.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
Specifically, GOAT could see a 16% climb, reaching a potential price of $0.46. However, late buyers should be cautious, as any profit-taking by whales could invalidate this prediction. If whales decide to book profits, GOAT’s price might experience a pullback to the $0.30 support level.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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