- Arthur Hayes recently posted in support of the GOAT token.
- GOATâs Open Interest skyrocketed by 69% in the past 24 hours, indicating tradersâ interest in the memecoin.
Despite the struggling crypto market, whales have discovered a new meme coin, Goatseus Maximus [GOAT]. Whales are making significant bets on this token.
Blockchain tracker Lookonchain posted on X (formerly Twitter) about the activity of a whale, who withdrew 14,409 SOL worth $2.41 million to buy GOAT.
Whale places big bet on GOAT
Lookonchain further noted that, so far, this whale has spent 10,313 SOL worth $1.72 million to buy 4.5 million GOAT tokens at an average price of $0.383.
However, the whaleâs wallet still holds 4,096 SOL worth $682,000, which can be used to further accumulate the meme coin.
Following this significant purchase, the price of GOAT skyrocketed by 63%. The memecoin was trading near the $0.59 level.
Additionally, the coinâs trading volume jumped by 11% in the past 24 hours. This indicates greater participation from traders and investors compared to the previous day.
This newly listed meme coin is gaining notable attention from crypto enthusiasts.
Arthur Hayesâs bullish take on GOAT
In addition, on the 23rd of October, Arthur Hayes, a prominent crypto expert and co-founder of BitMEX made a post on X stating, âPump the GOAT.â This isnât Hayesâs first post about GOAT.
In an earlier post on X, he suggested that the meme coin could be 10x in the coming days.
GOATâs technical analysis and key levelsÂ
According to AMBCryptoâs technical analysis, GOAT appears bullish as it recently broke out from a strong resistance level of $0.52 level.
However, predicting its future performance is challenging, as the coin was recently launched and there isnât much data available.
Bullish on-chain metricsÂ
However, GOATâs positive outlook is further supported by on-metrics.
According to the on-chain analytics firm Coinglass, GOATâs Long/Short ratio currently stands at 1.32, indicating a strong bullish sentiment among traders.
Read Goatseus Maximusâ [GOAT] Price Prediction 2024-25
Additionally, the coinâs Open Interest has skyrocketed by 69% in the past 24 hours and 9.1% over the past four hours, at press time.Â
This growing Open Interest is a bullish sign for GOAT holders, as tradersâ interest in the meme coin is increasing significantly.