- GOAT delivers impressive first 20 days of trading with marketcap closing in on $1 billion.
- Assessing GOAT’s prospect of becoming a mainstream memecoin based on recent performance.
Goatseus Maximus [GOAT] is one of the newer memecoins to launch more recently. Its performance so far has been particularly noteworthy because it almost soared to a $1 billion market cap. It did it in less than two weeks after commencing trading on exchanges.
Two weeks have now passed since GOAT made its debut on 14th October. The memecoin kicked off with a relatively high marketcap of $104.11 million secured during the presale phase.
This was the first major sign of confidence in the project and it was followed up by strong demand in the market.
GOAT’s marketcap soared to $878 million within the first 10 days after its listing on Coinmarketcap. Many memecoins usually experience their first wave of sell pressure in the first few days after launch due to presale buyers taking profit.
Source: Coinmarketcap
The impressive GOAT performance may not have been a fluke. It was the first memecoin to be shilled by the Truth Terminal AI bot hence it is a pioneer in that regard. This contributed to its popularity, leading to a new trend of AI-marketed coins.
Will GOAT be the next major memecoin in the next major rally?
GOAT recently got close to pushing into a $1 billion plus marketcap. This would have put it in the same league as Dogecoin, Pepe and Shiba Inu.
These rivals also have more than $1 billion marketcap. GOAT may soar above this level if it continues to enjoy robust demand. it might be one of the newer memecoins to break into the mainstream once it hits the highly coveted $1 billion marektcap.
Its low supply may contribute to its attractiveness. The memecoin has a maximum supply of 1 billion coins Goateus Maximus cooled off considerably in the last few days after forming a double top in the 4-hour chart.
It exchanged hands at $0.67, a 24% discount from its $0.902 ATH so far.
Source: TradingView
It is worth noting that the price has been forming divergence with the RSI which may have indicated that it was overbought.
Read Goatseus Maximus’ [GOAT] Price Prediction 2024-25
However, remember that it has less than a month of trading history which meant that predictions at the time of writing would not be very viable.
Nevertheless, the price action may offer insights into the future of GOAT at least in the short to mid-term. The limited downside suggests that most holders anticipate higher prices in the coming days, hence the incentive to HODL.
