The post Whale Spent $2.5 Million to Buy GOAT as Experts Eye 10X Growth appeared first on Coinpedia Fintech News
Amid the ongoing struggles in the cryptocurrency market, the recently launched meme coin Goatseus Maximus (GOAT) has been making waves with its impressive performance. In addition to its performance, its popularity among whales and investors has risen significantly, resulting in notable accumulation in recent days.
Whales’ Big Bet on GOAT
On October 21, 2024, a blockchain-based transactions tracker Lookonchain made a post on X (Previously Twitter) that a whale withdrew 14,409 SOL worth $2.41 million from Binance to purchase GOAT meme coin.
According to the data, the whale has so far spent 10,313 SOL, worth $1.72 million, to acquire 4.5 million GOAT coins at an average price of $0.383, leaving 4,096 SOL remaining in the wallet. Given the coin’s rising popularity, it seems likely that the buying will continue.
GOAT Could 10X, Says Arthur Hayes
In addition to whale accumulation, a popular crypto personality and co-founder of BitMEX, Arthur Hayes, recently posted on X that GOAT has the potential to 10X in the coming days. In his post, Hayes mentioned that the well-known financial influencer and Bloomberg contributor Matt Levine referenced GOAT in his recent report.
Hayes further added that the last time Matt mentioned the WIF meme coin in his report, it triggered a 10X rally in its price.
GOAT’s Current Price Momentum
At press time, GOAT is trading near $0.41 and has experienced a price decline of over 2% in the past 24 hours. During the same period, its trading volume declined by 53% indicating lowered participation from traders and investors compared to previous days.
This AI-generated meme coin has experienced notable social and trading volume, which has been steadily rising, according to data from the on-chain analytics firm Santiment. The data shows a significant gain of 190% in the past week, highlighting its future potential.
Many are now speculating whether it could surpass established meme coins like Dogecoin (DOGE) or Shiba Inu (SHIB).