- Arthur Hayes recently posted in support of the GOAT token.
- GOAT’s Open Interest has skyrocketed 69% in the last 24 hours, indicating traders are interested in the memecoin.
Despite the struggling crypto market, whales have discovered a new meme coin, Goatseus Maximus [GOAT]. Whales are betting significantly on this token.
Blockchain tracker Lookonchain posted on X (formerly Twitter) about the activity of a whale, which raised 14,409 SOL worth $2.41 million to buy GOAT.
Whale places a big bet on GOAT
Look at chain further noted that this whale has so far spent 10,313 SOL worth $1.72 million to purchase 4.5 million GOAT tokens at an average price of $0.383.
However, the whale’s wallet still contains 4,096 SOL worth $682,000, which can be used to further collect the meme coin.
Source:
After this major purchase, GOAT’s price shot up 63%. The memecoin was trading around the $0.59 level.
Moreover, the coin’s trading volume has increased by 11% in the last 24 hours. This indicates greater participation from traders and investors compared to the day before.
This newly listed meme coin is receiving notable attention from crypto enthusiasts.
Arthur Hayes’ bullish view on GOAT
Moreover, on October 23 Arthur Hayesa prominent crypto expert and co-founder of BitMEX posted on X saying: “Pump the GOAT.” This isn’t Hayes’ first post about GOAT.
In an earlier post on
GOAT’s Technical Analysis and Key Levels
According to AMBCrypto’s technical analysis, GOAT seems bullish as it recently broke out from a strong resistance level at $0.52.
However, predicting its future performance is challenging as the coin was recently launched and not much data is available.
Source: TradingView
Bullish statistics in the chain
However, GOAT’s positive outlook is further supported by on-metrics.
According to on-chain analytics firm Coinglass, GOAT’s Long/Short ratio currently stands at 1.32, indicating strong bullish sentiment among traders.
Read Goatseus Maximus’ [GOAT] Price forecast 2024-25
Moreover, the coin’s Open Interest is up 69% in the last 24 hours and 9.1% in the last four hours, at the time of writing.
This growing Open Interest is a bullish sign for GOAT holders as trader interest in the meme coin increases significantly.