Whale activity surrounding the AI-created GOAT meme coin is drawing attention in the crypto community, erasing a short-lived dip in Monday trading.
A whale investor has been actively accumulating GOAT tokens, having purchased 21.39 million tokens for a total of $7.14 million at an average price of $0.3338 over the last four days, using four different wallets. The buying spree continues, as the whale recently withdrew an additional 2 million USDC from Binance to acquire more GOAT.
Another whale, who initially spent 602.64 Solana (CRYPTO: SOL) to buy 10.71 million GOAT tokens, has sold off 9.25 million GOAT for 19,669 SOL, netting a profit of 19,067 SOL (approximately $3.2 million) and achieving a 32x return on their investment. The whale still retains 1.46 million GOAT, valued at around $506,000.
This news comes after Crypto trader Tyler D highlighted the impressive recovery of GOAT, which had dropped to a valuation of $160 million in early Monday morning hours, before surging over 200% to reach a valuation of $400 million. He concluded his tweet with, “Dip buyers euphoric.”
Renowned investor Miles Deutscher also used the opportunity to buy more GOAT tokens at around $0.20, expressing optimism about the asset's future performance.
Similarly, trader Eugene Ng Ah Sio increased his position in GOAT, stating, “Key positions for what I think will be a secular trend going forward. If I’m wrong, then I am your exit liquidity.”
The influence of meme coins will be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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