Goatseus Maximus (GOAT), a Solana Meme Coin, Captures the Attention of Crypto Whales

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.

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