- A whale has spent $7.14M on 21.39M $GOAT, signaling strong confidence and continuous buying despite a recent price drop.
- $GOAT’s price hovers near $0.30, with whale purchases driving up trading volume and creating volatility in the market.
- Whale activity has pushed $GOAT’s price up from its $0.12 base, with support at $0.20 and potential gains toward $0.60 if buying pressure holds.
Whale activity in the $GOAT market has intensified, significantly impacting price action. Whale trades have been happening frequently in the last several days, indicating high confidence in $GOAT’s potential.
Notably, at an average price of $0.3338, a whale paid $7.14 million to purchase 21.39 million $GOAT. This aggressive buying comes despite $GOAT experiencing a price drop. Moreover, the whale continues purchasing the token, further increasing its holdings through four wallets.
Whale Withdrawals and Market Response
In the last 48 hours, the whale withdrew an additional 2 million USDC from Binance, spending a total of 6 million USDC to acquire 17.15 million $GOAT at an average price of $0.35. Besides, $GOAT saw heightened volatility when another whale withdrew 4 million USDC to buy $GOAT, split across two wallets.
This aggressive buying has driven $GOAT’s trading volume higher, with the whale’s total spending reaching 3.07 million USDC for 10.09 million $GOAT at $0.3045. Consequently, the whale now holds $GOAT positions worth millions.
Technical Analysis: Key Support and Resistance Levels
From a technical perspective, $GOAT has seen a series of volatile price swings since early October. Initially forming a base around $0.12, it rapidly broke through resistance at $0.20, climbing toward $0.36.
However, on October 19th, a sharp spike saw $GOAT peak near $0.50 before pulling back significantly. The current price hovers around $0.30, with critical support at $0.20. However, traders suggest potential price movements could drive $GOAT toward $0.60 if buying pressure resumes.
Moreover, market sentiment is driven by increased whale activity, as seen with constant withdrawals of USDC from Binance to purchase $GOAT. This accumulation trend indicates optimism in $GOAT’s future price action.
Outlook: Continued Whale Buying
The ongoing whale buying spree suggests strong confidence in $GOAT’s long-term potential. Moreover, increased trading volume has fueled speculation of further price movements. As a result, investors should closely monitor whale activity, particularly the interaction between key support and resistance levels.
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