Goateus Maximus has been attracting a lot of attention, thus prompting a deeper dive into GOAT price prediction due to popular demand. Is it a good buy or should you avoid it? Should you wait for prices to go lower or is its current price the best entry point?
This GOAT price prediction content is aimed at providing key information that may help you make a more informed decision. Price prediction simply does not make sense without historical data. Fortunately, GOAT has been trading for well over a week.
Ideally, 8 weeks or more would have been better to gauge the initial performance. However, we will have to make due with the initial reaction in the first week since launch on some exchanges. Here’s a look at GOAT’s price action in the first week of trading.
Usually when the market has low expectations for a token, its price tends to dip right after launch. The HMSTR token is an ideal example of this. The opposite is true for tokens which investors are confident about their potential.
GOAT price prediction may thus be positive based on its performance so far. Its price achieved significant upside in the first few days of trading. This confirms that the cryptocurrency is enjoying a positive percention in the market. However, this does not necessarily guarantee that price will not fall.
GOAT price prediction
GOAT’s historic trading data revealed that it kicked off with a $104 million marketcap on its first day of trading. Its marktcap peaked at $878.25 million on 24 October, meaning it was well on its way to becoming a $1 billion memecoin.
A $1 billion marketcap would pave the way for more potential publicity and possibly attract more investment moving forward. GOAT currently has a circulating supply of 1 billion tokens, hence a $1 billion marketcap would push price to $1. Based on its latest trajectory, this is an achievement that could happen within weeks.
Will GOAT join the top memecoin ranks?
The fact that Goateus Maximus’ marketcap recently moved closer to the $1 billion mark was already a healthy indication of the current level of optimism around it. And the reality of the memecoin segment is that the market is always looking for the next best thing during a major bull run.
By next best thing, we mean coins, especially in the memecoin segment that are not overpriced, and have a lot of upside potential. GOAT has a relatively low circulating supply, its memecoin factor is high and it also boasts of a strong community backing.
Perhaps the real question is, can GOAT push above a $5 billion marketcap? While this is a real possibility considering its initial performance, it is still too early to tell what kind of demand the coin will experience moving forward.
Nevertheless, if Goateus Maximus manages to push above $1 billion, in line with our GOAT price prediction, then it will likely enjoy more publicity. Elevated popularity will likely attract more buyers, and this may also pave the way for more listings especially on more popular exchanges.
A combination of the above factors such as listings on major exchanges will unlock access to more potential investors and liquidity. An outcome like this would solidify its chances of competing with larger memecoins in the segment.
In conclusion, GOAT has demonstrated robust potential so far. This makes it worth keeping an eye on in the coming months considering its budding popularity. Keep in mind that this GOAT price prediction is for educative and entertainment purposes only and should therefore not be considered as financial advice. Investing in memecoin is risky and caution is advised.
Also check out: Goateus Maximus memecoin: Is It The Next Best Memecoin Gem?
