A whale has spent $7.14M on 21.39M $GOAT, signaling strong confidence and continuous buying despite a recent price drop.
$GOAT's price hovers near $0.30, with whale purchases driving up trading volume and creating volatility in the market.
Whale activity has pushed $GOAT's price up from its $0.12 base, with support at $0.20 and potential gains toward $0.60 if buying pressure holds.
Whale activity in the $GOAT market has intensified, significantly impacting price action. Whale trades have been happening frequently in the last several days, indicating high confidence in $GOAT's potential.
Notably, at an average price of $0.3338, a whale paid $7.14 million to purchase 21.39 million $GOAT. This aggressive buying comes despite $GOAT experiencing a price drop. Moreover, the whale continues purchasing the token, further increasing its holdings through four wallets.
https://twitter.com/lookonchain/status/1848262510551380376 Whale Withdrawals and Market Response
In the last 48 hours, the whale withdrew an additional 2 million USDC from Binance, spending a total of 6 million USDC to acquire 17.15 million $GOAT at an average price of $0.35. Besides, $GOAT saw heightened volatility when another whale withdrew 4 million USDC to buy $GOAT, split across two wallets.
This aggressive buying has driven $GOAT’s trading volume higher, with the whale’s total spending reaching 3.07 million USDC for 10.09 million $GOAT at $0.3045. Consequently, the whale now holds $GOAT positions worth millions.
Technical Analysis: Key Support and Resistance Levels
From a technical perspective, $GOAT has seen a series of volatile price swings since early October. Initially forming a base around $0.12, it rapidly broke through resistance at $0.20, climbing toward $0.36.
https://twitter.com/Trader_XO/status/1847977393455071237
However, on October 19th, a sharp spike saw $GOAT peak near $0.50 before pulling back significantly. The current price hovers around $0.30, with critical support at $0.20. However, traders suggest potential price movements could drive $GOAT toward $0.60 if buying pressure resumes.
Moreover, market sentiment is driven by increased whale activity, as seen with constant withdrawals of USDC from Binance to purchase $GOAT. This accumulation trend indicates optimism in $GOAT’s future price action.
Outlook: Continued Whale Buying
The ongoing whale buying spree suggests strong confidence in $GOAT's long-term potential. Moreover, increased trading volume has fueled speculation of further price movements. As a result, investors should closely monitor whale activity, particularly the interaction between key support and resistance levels.
The post Whale Spends Over $7M on $GOAT, Igniting Market Confidence Despite Price Drop appeared first on Crypto News Land.