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Home»Market»Whale Buys $2.41 Million worth of GOAT as Meme Coin Attracts Market Attention
Market

Whale Buys $2.41 Million worth of GOAT as Meme Coin Attracts Market Attention

October 26, 2024No Comments2 Mins Read
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Whaling investors are pouring millions into Goatseus Maximus (GOAT), defying the lackluster performance of the broader market.

Whaling investors are pouring millions into Goatseus Maximus (GOAT), defying the lackluster performance of the broader market. The latest wave of interest comes as a prominent investor has allocated a staggering $2.41 million in Solana (SOL) to acquire positions in the emerging coin.
Blockchain analytics platform Lookonchain revealed that a major market player had 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 ammo of 4,096 SOL (valued at $682,000) for possible future acquisitions.

The impact of this substantial investment was immediate and dramatic, driving the price of GOAT up 63% to approximately $0.59. Trading volume also saw an impressive 11% increase in the last 24 hours, suggesting growing market participation and growing investor interest.

To add to this momentum, Arthur Hayes, co-founder of BitMEX and respected crypto investor, expressed optimistic sentiments about GOAT on October 23, encouraging his followers to “Pump the GOAT.” Hayes previously suggested the possibility of a tenfold increase in the token’s value in the near future.
Market indicators paint an optimistic picture of GOAT’s prospects. Data from Coinglass indicates a long/short ratio of 1.32, suggesting that traders are primarily taking bullish positions.

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