Whale investors are pouring millions into Goatseus Maximus (GOAT), defying the broader market's subdued performance.
Whale investors are pouring millions into Goatseus Maximus (GOAT), defying the broader market's subdued performance. The latest surge of interest comes as a prominent investor allocated a staggering $2.41 million worth of Solana (SOL) to acquire positions in this emerging meme coin.
Blockchain analytics platform Lookonchain revealed that a significant market player has already deployed 10,313 SOL (approximately $1.72 million) to accumulate 4.5 million GOAT tokens. The average purchase price stands at $0.383, with the investor still holding additional ammunition of 4,096 SOL (valued at $682,000) for potential further acquisitions.
The impact of this substantial investment was immediate and dramatic, sending GOAT's price soaring by 63% to reach approximately $0.59. Trading volume has also seen an impressive 11% increase over the past 24 hours, suggesting growing market participation and investor interest.
Adding to the momentum, BitMEX co-founder and respected crypto investor Arthur Hayes expressed bullish sentiments about GOAT on Oct. 23, encouraging his followers to "Pump the GOAT." Hayes had previously suggested the potential for a tenfold increase in the token's value in the near future.
Market indicators are painting an optimistic picture of GOAT's prospects. Data from Coinglass indicates a long/short ratio of 1.32, suggesting traders are predominantly taking bullish positions.
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