The Goatseus Maximus (GOAT) token has recently emerged as a notable player on the Solana blockchain, having launched on October 10, 2024.
This meme coin has attracted significant attention, largely due to its association with the Truth Terminal, an AI bot developed by Andy Ayrey that has actively promoted the token.
The GOAT token has experienced a remarkable surge, boasting over a 300% increase in value over the past week. Whale accumulation has been particularly pronounced, indicating strong interest from large investors.
Crazy buying of $GOAT!20 hours ago, a whale withdrew 4M $USDC from #Binance to buy $GOAT via 2 wallets!So far, the whale has spent 3.07M $USDC to buy 10.09M $GOAT at $0.3045, with 0.93M $USDC left.The buying is still going on.https://t.co/8WZ9baT3DM⊠pic.twitter.com/6TrEB500gx
â Lookonchain (@lookonchain) October 18, 2024
A recent update from Lookonchain underscores this activity, detailing how a whale withdrew $4 million in USDC from Binance to purchase GOAT through two wallets.
So far, this whale has invested $3.07 million to acquire 10.09 million GOAT tokens at a price of $0.3045, while still retaining $930,000 for further purchases. This trend of buying is ongoing, reflecting strong whale interest in the token.
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Show more +Show less â Potential for Short- and Long-Term Gains
Adding to the conversation, Dragos shared insights on the potential of the GOAT token, emphasizing that despite skepticism from past experiences with other coins, data suggests that GOAT might be an exception. He expressed his belief that the token could see more short and long-term upside.
He noted, âMonths of PVP-ing cabal coins have you convinced that every new coin will end up the same way. But a look at the data behind it shows that we might have stumbled onto something special here.â
Dragos further elaborated on the tokenâs impressive distribution metrics, stating that âthe distribution on $GOAT is as good as it gets this early on.â
He pointed out that there are no known key opinion leaders (KOLs) with excessive allocations, and the token has already seen substantial trading volume. His analysis indicates that panic selling during various events has contributed to a more distributed supply.
In his detailed breakdown, Dragos presented findings from Bubble Maps, revealing minimal clustering in wallet holdings, which is a positive sign for potential investors. He explained, âOnly 3 wallets have more than 1% (one of which is Wintermute),â suggesting a healthy distribution of assets among holders.
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Moreover, he referenced metrics shared by Murad Metrics, highlighting that the market cap of GOAT has doubled while the growth in holders has outpaced this increase. This indicates a robust organic growth pattern, contrasting sharply with other memecoins.
Overall, both Lookonchain and Dragos convey a strong sense of optimism about the GOAT token, suggesting that its unique characteristics and the ongoing accumulation by whales may present significant upside potential in both the short and long term.
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The post Whales Are Accumulating This New Solana (SOL) Memecoin, Eyeing Short- and Long-Term Gains appeared first on CaptainAltcoin.
