Date: Fri, Oct 25, 2024, 05:23 AM GMT
The cryptocurrency market is buzzing, especially with the rapid rise of new memecoins. One standout is Goatseus Maxiumus (GOAT), which was launched on October 10 on the Pump.fun platform. Over the past week, GOAT’s price has skyrocketed by over 90%, earning it a spot in the top 100 cryptocurrencies by market cap following its listing on Binance Futures yesterday.
In the midst of this impressive growth, a large whale—an investor holding a significant amount of GOAT—has begun to sell off their tokens. According to a recent report from Lookonchain, this whale, who initially invested around $7.5 million in GOAT, sold 9.23 million GOAT tokens for about $7.13 million, raking in profits exceeding $9 million!
The whale’s journey began when he purchased 22.48 million GOAT tokens at an average price of $0.334. Just 17 hours ago, they decided to sell off a portion of their holdings, offloading 6.7 million GOAT tokens for $5.18 million at a price of $0.773. They also deposited another 2.53 million GOAT tokens worth $1.95 million into Gate.io.
Currently, the whale still holds 13.25 million GOAT tokens valued at approximately $9.7 million. This whales’ activity ramped up on October 18, when they spent $4 million, followed by an additional $2 million on October 19, and another $2 million on October 21.
Current Market Situation
Despite the excitement surrounding GOAT, it has recently experienced a 22% correction from its all-time high of $0.89 reached yesterday.
This pattern is common for many tokens after a major exchange listing. Currently, GOAT is trading at $0.69 and has struggled to maintain a support level above $0.70. If this trend continues, it could potentially revisit a support level around $0.6080, marking a 12% decline from its current price.
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