Key Takeaways:
- GOAT, an AI-generated meme coin is creating a huge uproar in the market with its ongoing bull run.
- The coin surged 33.52% in the last 7 days marking the beginning of a new AI-generated coin era.
- The market sentiment for the famous meme coin is currently “bullish” with the Fear & Greed Index showing “Extreme Greed”.
The GOAT is a recently launched meme coin that has been creating a huge sensation in the market. The GOAT meme coin is the first “Pump.fun” coin to cross the 1 Billion mark milestone, in terms of market capitalization. The GOAT is a Solana-based meme coin that is created from an AI language model known as the Truth Terminal. In this article, we will look into the coin’s bull run, the factors that influenced this ongoing run, and how the coin will fare in the market in the days to come.
GOAT Current Market Standing
The GOAT meme coin is currently ranked #74 in the crypto world based on its market capitalization. The coin’s bull run commenced soon after its launch on the Solana’ Raydium DEX on October 14. At that time, the price of the coin was around $0.10. Soon after this, the coin rocketed at an exponential rate earning its early holders a huge amount of profit. With a recorded growth of 33.9% in the past 7 days, the coin is trading at $1.11 with a daily uptrend of 2.83%.
During its bull run, the coin peaked on the 17th of November, reaching as high as $1.3521. With a lifetime growth of above 940%, the coin was one of the top-performing meme coins of this year. The market capitalization of the coin has already reached $1.11 billion. If the trends in social media and the market favor the coin, we will see a further rise in the coin’s value in the coming days.
Factors Influencing The Goat Coin Surge
The coin has gained significant traction in the market upon its release. The main reason behind this sudden popularity was AI’s endorsement of the project. However, this price rise was accompanied by high volatility. There was a significant dip at one point due to a controversy surrounding the post issued by the AI questioning his authenticity.
In spite of these major drawbacks, the coin’s trading volume remained high and it made a comeback into the market. The introduction of the GOAT meme coin has raised significant concerns in the crypto community. Many people raised their concerns about AI promotions and how there may arise a scenario where it can be used for market manipulation purposes.
GOAT Short-Term Price Prediction: How The Coin Will Fare In The Coming Days
Now that we looked into the coin’s current performance in the market, let’s take a sneak peek into its future. For this, we have prepared a price prediction table for the meme coin that even showcases the potential ROI. If you’re considering investing and want to gain insights into the coin’s possible future, kindly refer to the table.
| Date | Expected Price | Potential ROI |
|---|---|---|
| 21 Nov, 2024 | $ 1.11873 | 2.40% |
| 22 Nov, 2024 | $ 1.178674 | 2.83% |
| 23 Nov, 2024 | $ 1.255874 | 9.66% |
| 24 Nov, 2024 | $ 1.350192 | 17.80% |
| 25 Nov, 2024 | $ 1.45523 | 26.93% |
While referring to the table, keep in mind that the above-given prices are susceptible to changes in trends in both social media and the market. So, they may vary accordingly.
Is It a Good Time To Invest In The GOAT Coin?
The overall community sentiment toward the GOAT meme coin is showing a “Bullish” trend. As per the information provided by numerous tier-1 market analysts, the coin is expected to rise by 227.17% and reach $3.66 by the beginning of the second half of December. This can significantly vary if the coin gets listed in one of the major exchanges like Binance. The token is currently trading its 19/30 days in the green with a volatility rate of 29.65% based on the data from the past 30 days.
The Fear & Greed Index of the GOAT meme coin shows a value of 83 indicating “Extreme Greed”. Based on this forecast, it is the ideal time to invest in the famous meme coin. However, you should keep in mind that the crypto market is one of the most volatile places in the world. So, it would be better if you conducted your research before moving on with the investment.
Future Outlook & Potential Risks
The rapid rise of the new AI meme coin has both a positive and negative side. On a positive note, it showcased how AI-generated promotions can increase the hype and market value of the coin. On the other hand, it also helped in highlighting the risks associated with investing in a coin based on the promotions, especially one lacking any potential use cases.
The combination of AI and meme coins has infinite possibilities in the ever-evolving crypto market. The GOAT coin has served as an inspiration for many. As a result of this, we will likely see similar AI-generated coins in the possible future. Whether these potential coins come with a use case or not, now that’s another matter entirely. As of now, we can only wait and see what the future holds.