FOMO appears to be taking over as GOAT’s recent rally picks up steam and more exchanges offer it, making a $1 billion valuation seem plausible.
The price of the greatest of all time has increased by 28.33% in the last day as it gains more attention due to a number of exchange listings.
Since its launch on Pump.fun just two weeks ago, GOAT has experienced a parabolic run, rising 193.98% in the last week alone to become the leading AI-based meme coin.
As FOMO sets in, traders seem to be snatching up GOAT with great anticipation in response to these new listings. Over the last day, the meme coin’s trading volume has increased by 93.5% to $424.4 million.
Goatemus Maximus Nears $1 Billion Market Cap: What’s Pushing the Rally?
The numerous exchange listings that GOAT has obtained, including well-known sites like BitMEX, Bitget, Gate.io, WOO, HTX, and Crypto.com, all while the coin is still in its infancy, are responsible for this recent surge.
These listings have functioned as an indication of approval. The FUD that new meme coins frequently encounter is lessened when they have the support of a reliable exchange, which increases their viability. Massive inflows are facilitated by expanding exposure to whole new user bases.
Given that whales appear to be fully committed to GOAT, this confidence is only increased. Lookonchain, an on-chain investigator, claims that several Solana Whales have bought the token for millions of dollars.
Someone created a new wallet and withdrew 14,409 $SOL($2.41M) from #Binance to buy $GOAT.
— Lookonchain (@lookonchain) October 22, 2024
So far, this guy has spent 10,313 $SOL($1.72M) to buy 4.5M $GOAT at $0.383, with 4,096 $SOL($682K) left.
The buying is still going on.https://t.co/hYJQoMavt0 pic.twitter.com/YnauHOMYCl
GOAT Price Analysis: Is $1 Next?
Small developments on the GOAT price chart indicate further appreciation, even though it can be difficult to spot decisive price action while a meme coin is establishing itself.
Most notably, it appears that GOAT has recovered and flipped this level to new support after a brief decline below a previous resistance level at $0.7775.
As GOAT continues its recent upward trend, if it holds, we may be in for the next leg of the ascending channel pattern that appears to be developing.
This opinion is supported by the MACD line’s confirmation of a clear crossover above the signal line, a move that has regularly resulted in notable increases in the GOAT price in recent days.
GOAT will probably reach a market valuation of $900 million after this, at which point there might be a minor correction to find more solid ground to support a push up to $1 billion, with a $1.00 price target.
Nevertheless, given the substantial volatility that GOAT encounters, it is crucial to take into account the possibility of a retest of its lower boundary when observing this pattern.
Even so, there are not any solid reasons to believe that this support will break bearishly right now.
This New Low-Cap Meme Coins Follow the GOAT Narrative
The unexpected and little-known ascent to fame of GOAT is indicative of a broader shift toward “movement coins,” according to analyst Murad Mahmudov. These community-focused meme coins have the potential to grow exponentially while fostering ingrained engagement and forming ideologies.
Something mirrored by newcomer, Flockerz ($FLOCK), the vote-to-earn meme joining the push toward decentralized governance, addressing the common criticism of meme coins being overly centralized.
Every successful meme coin has a stronger community at its core. Why, then, are these communities excluded from decision-making processes?
Flocktopia, the DAO of Flockerz, aims to correct this imbalance, and the meme coin community has already shown its support, raising over $1 million in its presale so far!
All roads lead to Flockerz. Vote-To-Earn is going to change the way meme coins empower their community. pic.twitter.com/cqf1jaNPZJ
— Flockerz (@FlockerzToken) October 5, 2024
Members of “The Flock” can have a significant impact on the project’s development, token burns, marketing plans, growth initiatives, and new features thanks to this decentralized structure.
Contributions to Flocker’s vote-to-earn system are acknowledged, and decision-makers receive rewards in $FLOCK tokens.
However, the benefits do not end there! With a profitable 1653% APY, investors are currently taking advantage of one of the largest passive income opportunities available. The Flock is still making steady profits even though the market is waning due to recent volatility!
Join The Flock on X and Telegram to stay up to date on the latest announcements.