- GOAT offers an impressive first 20 days of trading with a market cap close to $1 billion.
- Evaluating GOAT’s prospects of becoming a mainstream memecoin based on its recent performance.
Goatseus Maximus (GOAT) is one of the newer memecoins launched more recently. Its performance so far has been particularly remarkable as it has almost reached a billion-dollar market capitalization. He did so less than two weeks after the start of trading on the stock exchange.
Two weeks have passed since GOAT debuted on October 14. The memecoin started with a relatively high market capitalization of $104.11 million secured during the presale phase.
This was the first major sign of confidence in the project, followed by strong market demand.
GOAT’s market capitalization soared to $878 million in the first 10 days of its listing on Coinmarketcap. Many memecoins typically experience their first wave of selling pressure within the first few days after launch, due to profits made by pre-sale buyers.
Source: Coinmarketcap
GOAT’s impressive performance may not be a coincidence. This is the first memecoin to be funded by the Truth Terminal AI bot, so it is a pioneer in this regard. This contributed to its popularity, leading to a new trend of AI-traded coins.
Will GOAT be the next major memecoin in the next major rally?
GOAT was recently on the verge of reaching a market capitalization of over $1 billion. This would have put it in the same league as Dogecoin, Pepe and Shiba Inu.
These rivals also have a market capitalization of over $1 billion. GOAT could surpass this level if it continues to benefit from robust demand. It could be one of the newest memecoins to break into the mainstream once it hits the coveted $1 billion marektcap.
Its low supply may contribute to its attractiveness. The memecoin has a maximum supply of 1 billion coins. Goateus Maximus has cooled significantly in recent days after forming a double top in the 4-hour chart.
It traded at $0.67, a 24% reduction from its ATH of $0.902 so far.
Source: TradingView
It is worth noting that the price formed a divergence with the RSI, which could indicate that it was overbought.
Read Goatseus Maximus (GOAT) Price Prediction 2024-25
However, keep in mind that it has less than a month of trading history, meaning the predictions at the time of writing would not be very viable.
Nonetheless, price action can offer insight into the GOAT’s future, at least in the short to medium term. The limited downside suggests that most holders expect higher prices in the coming days, hence the incentive to HODL.
