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Goatseus Maximus (GOAT), a new meme coin, has taken the cryptocurrency community by storm with its strong rise since its launch earlier this month. In just two weeks, GOAT’s market capitalization has risen from almost zero to over $900 million, drawing comparisons to last year’s memcoin, PEPE.
This rapid rise has captivated both analysts and investors, who have begun to view GOAT as a potential challenger to memecoin dominance in the current market cycle.
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Just like PEPE’s massive rise in 2023, GOAT has defied initial skepticism, proving that memes still have significant influence among crypto enthusiasts and speculative traders. With the community’s rapid growth and social media buzz, many are wondering if GOAT has what it takes to become the reference point for meme currency this cycle.
As excitement builds, the market is watching closely to see if GOAT can maintain its momentum and establish itself as the next big name in the unpredictable world of meme coins.
Can the GOAT drive the coins in this tournament?
Recently top crypto analyst and investor Daan Share an insightful comparison on X Between the bullish meme coin Goatseus Maximus (GOAT) and the sensation of 2023, PEPE. In his analysis, Dan noted that although GOAT has risen significantly since its recent launch, PEPE’s initial trajectory has been faster.
PEPE reached a market capitalization of around US$1.4 billion within 22 days of its launch, while by the 17th, its market capitalization reached around US$600 million – roughly where GOAT currently stands. Dan confirmed that the local peak for PEPE occurred when Binance listed it for spot and perpetual contracts, leading to the “exploded top.” This listing and subsequent price hike marked a turning point, as PEPE would not return to these price levels for another 10 months.
Dan also highlighted other fast-rising tokens, such as SLERF and BOME, which surged earlier this year during the local market peak. However, he believes that GOAT and PEPE stand out as potential long-term players in the meme space, given their roles as sector leaders. By placing GOAT alongside PEPE, Dan emphasized the potential for GOAT to reflect PEPE’s enduring appeal among investors.
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As GOAT continues to gain more attention, the market remains speculative, and comparisons like Daan highlight how cryptocurrencies like GOAT can evolve — either stabilizing as a major player or facing a similar post-peak volatility cycle. As GOAT’s market cap rises and interest grows, time will tell if it can follow a similar path to PEPE or create a unique legacy within the meme coin sector.
Price Action: Technical Display
GOAT is currently trading at $0.637 after bouncing from its all-time high of $0.915. While data on GOAT’s price movements is still limited due to its recent launch, the 4-hour chart reveals key levels that could define near-term demand and supply zones.
The key demand level to watch is around $0.56, which previously represented significant resistance since GOAT’s debut, and has now flipped to act as strong support. If GOAT manages to hold above the $0.56 mark, it could indicate continued interest from buyers, setting the token for another upward move.
On the supply side, $0.72 is the next critical area to be tested. A push through this level will likely spark new bullish momentum as traders look for higher levels and potential gains above the recent highs.
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The $0.72 area will act as short-term resistance, and if GOAT can break through it, the price could move towards a new all-time high. As GOAT’s momentum develops, these levels provide a framework to monitor price action and gauge potential shifts in market sentiment surrounding this bullish meme coin.
Featured image by Dall-E, chart from TradingView