The cryptocurrency market is buzzing with excitement surrounding the AI-generated meme coin GOAT, which has witnessed a dramatic surge in value thanks to significant whale activity. After experiencing a dip early Monday morning, GOAT rallied over 200%, erasing the losses and leaving investors feeling optimistic about the coin’s future.
Data from Lookonchain reveals the activity of a particular whale investor who has been accumulating GOAT tokens. Over the past four days, this investor has purchased 21.39 million GOAT tokens for a total of $7.14 million at an average price of $0.3338, utilizing four separate wallets. The buying spree continues, with the whale recently withdrawing 2 million USDC from Binance to acquire even more GOAT.
Meanwhile, another whale investor has been selling off their holdings. This investor initially invested 602.64 Solana (SOL) to acquire 10.71 million GOAT tokens. They have since sold 9.25 million GOAT for 19,669 SOL, generating a profit of 19,067 SOL (approximately $3.2 million) – a 32x return on their investment. The whale still retains 1.46 million GOAT, valued at around $506,000.
The resurgence of GOAT has attracted the attention of prominent figures in the crypto community. Crypto trader Tyler D highlighted the coin’s impressive recovery, noting that GOAT had dropped to a valuation of $160 million early Monday morning before surging to reach a valuation of $400 million. He expressed the sentiment of many investors by tweeting, “Dip buyers euphoric.” Renowned investor Miles Deutscher also capitalized on the dip, purchasing more GOAT tokens at around $0.20 and expressing confidence in the asset’s future performance.
Trader Eugene Ng Ah Sio also increased his position in GOAT, stating, “Key positions for what I think will be a secular trend going forward. If I’m wrong, then I am your exit liquidity.”
The influence of meme coins is expected to be a major topic of discussion at Benzinga’s upcoming Future of Digital Assets event on November 19th. As GOAT continues to make headlines, the crypto community is eager to see how this AI-powered meme coin will perform in the long term.
