GOAT Meme Coin Dips despite Binance Futures Listing, Is It Time to Sell?

Could the local top be in for the GOAT coin? Goatseus Maximus, the latest meme coin sensation, is down 28% from its all-time high that it hit on Thursday, despite the world’s leading crypto-derivatives exchange Binance Futures listing the meme coin. As of press time, it is trading at $0.63, with a market capitalization of $630 million.

A few prominent crypto investors are already pivoting to newer meme coins. For instance, presale coins like STARS and FLOCK are in high demand, with some investors eyeing them as the next 100x crypto.

Is It Time to Sell the GOAT Coin?

Binance has been on a meme coin buying spree like never before. Perhaps the world’s top crypto exchange is also gearing up for a “meme coin supercycle”.

After listing the Simon’s Cat meme coin earlier this week on its spot platform, Binance Futures has now listed the GOAT token. Users can now trade the GOATUSDT perpetual contracts with up to 75x leverage.

#Binance Futures will launch the USDⓈ-Margined $GOAT Perpetual Contract at

🗓️Oct 24 2024, 13:30 (UTC)

Read more 👉 https://t.co/YswQcSfaat pic.twitter.com/OVUaTSYYAB

— Binance Futures (@BinanceFutures) October 24, 2024

However, the reactions to both listings have been significantly different. The CAT price rallied by over 50%, while GOAT is down by 28% from its all-time high. In fact, the GOAT launch on Binance is being viewed as the local top for the meme coin.

For instance, prominent crypto trader Astronomer reveals that he has closed his long position in the meme coin.

He opened his longs right at the local bottom of $0.20 and caught a 4x move as the GOAT price soared to a new all-time high of $0.88 late on Thursday.

While Astronomer expects that the token price could potentially rally to $1 in the coming days, he is not underestimating the possibility of major downside volatility. He projects that the meme coin will likely retrace to $0.20, at which point he will scale into long positions once again.

$GOAT

Up, 4x in a few days, that's it, I'm out!

I know, sounds controversial, 'don't sell all, keep a moon bag'.

That's true, but I was too heavily allocated to leave the open profit on the table.

We bid $0.2 a few days ago, it was the bottom and now we have the luxury to… https://t.co/p8784Q1H2D pic.twitter.com/jG5pXc5nPz

— Astronomer (@astronomer_zero) October 24, 2024

Key indicators support his thesis. For instance, GOAT’s Relative Strength Index (RSI 14) entered the overbought territory in the 4-hour timeframe, which typically signals a strong correction.

However, Goatseus Maximus remains an excellent investment for the long term, especially after it retraces its current rally.

With the autonomous AI chatbot Truth Terminal continuing to promote it and notable crypto personalities like Marc Andreessen of Andreessen Horowitz and Brian Armstrong of Coinbase interacting with it, experts believe the GOAT coin could even be the next Pepe.

Could These Meme Coins Be the Next 100x Crypto?

Goatseus Maximum, a new Solana meme coin, reached the $880 million market cap in less than two weeks.

Unsurprisingly, the demand for new meme coins has soared after its meteoric ascent. In particular, smart money investors are eyeing presale coins, looking to get in on the ground floor and reap the maximum returns.

For instance, Crypto All-Stars (STARS), a utility-driven meme coin, has raised nearly $2.7 million in its ongoing presale.

STARS isn’t an ordinary token. The project behind it is also launching the first-ever multi-chain staking protocol, MemeVault. This platform will accept 11 meme coins to start with and offer stakers attractive passive income in exchange for it.

STARS presale buyers can already stake their coins and earn passive income at a reward rate of 570%.

Unsurprisingly, prominent crypto influencers are bullish on Crypto All-Stars, with some eyeing nearly 30x returns.

Similarly, Flockerz (FLOCK) is another meme coin that is in high demand, having raised over $1 million in presale funding.

It has introduced a unique vote-to-earn feature, which will also FLOCK holders to decide the direction of the project with their votes and earn rewards for it. In addition, presale buyers are also eligible for staking rewards.

Owing to its low market cap and unique value proposition, experts believe that Flockerz could be the next 100x crypto.

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