GOAT rises 550%: Can Memecoin hit $1.00 in November?
The Goatseus Maximus memecoin, known as GOAT, continued to generate buzz in the cryptocurrency industry due to its strong appreciation. According to CoinGecko, the price of memecoin registered an increase of almost 550% in October, being one of the best performances on the market.
This strong rise occurred mainly after the Truth Terminal bot indicated the cryptocurrency, which made the demand for it increase even more. In fact, the price of GOAT rose so much that it made Truth Terminal the first cryptocurrency bot to become a millionaire.
Now, with a key on-chain metric indicating increased investor interest in GOAT, investors are hoping its price could reach $1.00 in November. What are the chances of this happening?
GOAT in search of new all-time high
GOAT is currently priced at $0.59, meaning the journey to $1.00 is a long one. But taking into account the strong rise in memecoin, it is not impossible for this to happen.
According to recent data from Coinglass, the total GOAT futures rate registered a record increase this Wednesday (30), reaching a new high by soaring 9%. In absolute values, the market traded GOAT 159.55 million worth US$97.79 million.
This level marks a new all-time high and has intensified after several exchanges began trading GOAT futures since the beginning of this month. These are the numbers that traders see with optimism to the point of seeing GOAT being worth US$1.
The main exchange to launch GOAT futures was Binance, but OKX also revealed the listing of futures for the token, increasing market optimism. These listings could amplify demand for the GOAT and contribute to new bullish rallies.
GOAT rumo a US$ 1,00?
Until the closing of this article, the price of GOAT registered a drop of 17% in the last 24 hours and is quoted at US$ 0.59. However, data from Etherscan shows that memecoin has 3,515 investors, with more than 60 thousand registered transactions.
The numbers indicate robust growth and increased market interest shortly after its launch. This metric increases optimism around the GOAT's price potential to reach $1.00.
In short, with the listing of futures on major exchanges and more investors wanting to acquire GOAT, it has the possibility of breaking this new all-time high. Its record price to date is $0.84, which means there is room for memecoin to recover after the new bull cycle begins.