Recently, GOAT has attracted the attention of many whales. They are placing large bets on GOAT, hoping for substantial returns. Currently, GOAT is making a push towards the $1 target, attempting to challenge other popular meme coins.
Since its launch, holders of GOAT have gained considerable profits. In the past few days, GOAT has continued to soar, becoming one of the most profitable cryptocurrencies of the week. Meanwhile, bullish momentum remains strong, providing robust support for further increases in the price of GOAT.
The rise of GOAT is not a coincidence. From the very beginning, it has been strongly promoted by the AI robot Truth Terminal. With the soaring price of GOAT, Truth Terminal has also become the first AI robot to become a millionaire through promoting meme coins. Since October 15, 2024, the price of GOAT has skyrocketed by 516%, indicating its popularity. As a result, many crypto whales have started selling off other holdings in favor of purchasing GOAT.
However, the journey of GOAT has not been smooth sailing. Recently, doubts about the authenticity of Truth Terminal's X posts led to a significant drop of over 50% in the price of GOAT. However, the developers clarified in a timely manner, pointing out that the typo was due to the predictive nature of the LLM model. This clarification helped restore the upward trend of the GOAT price.
So, will the price of GOAT rise to $1 soon? Based on recent performance, GOAT has the potential for further increases. Demand remains strong; despite a significant drop earlier, whales are still actively buying more GOAT.
Moreover, the listing of GOAT has brought it more attention. As top cryptocurrency exchanges continue to list GOAT, it is expected that other exchanges will follow suit, further driving up the price of GOAT. However, due to high buying pressure, GOAT may also experience a phase of consolidation. The next four months will be crucial for understanding its price trends.
It is worth mentioning that one whale has spent $1.72 million to purchase 4.5 million GOAT. Furthermore, there are enough funds in his wallet for further purchases. Following this significant purchase, the price of GOAT surged over 34% within the last 24 hours. Meanwhile, trading volume also increased by over 100% in the past 24 hours, indicating a rise in participation from traders and investors.
From a technical analysis perspective, GOAT is showing bullish momentum. It has broken through the strong resistance level of $0.52, and the long/short ratio is 1.32, indicating strong bullish sentiment among traders. Additionally, the continuous growth of open contracts also suggests that traders' interest in GOAT is significantly increasing.
From the current trend, GOAT is expected to continue rising and challenge the $1 mark. However, investors should remain cautious and make reasonable investment decisions based on their risk tolerance and market conditions.
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