Ever since the cryptos like dogwifhat, Mog Coin, or POPCAT have surged with huge volume, the memecoins have gained centre stage. With a slight recovery in the Bitcoin price, most of the memecoins trigger a massive upswing and attract huge volumes. When the markets are up, nearly 7 to 8 tokens are memecoins, excluding the stablecoins, which record huge trading volumes. Meanwhile, a newly launched memecoin, Goatseus Maximus (GOAT), is surging monstrously and gained over 60%.
The crypto markets, including the popular memecoins, are currently facing acute upward pressure. After Dogecoin, Pepe & dogwifhat, the GOAT prices have attracted massive volume, which could be the reason for the sluggish behaviour of the rest of the memecoins. Now that the price seems to maintain a bullish continuation, here is what’s next for the GOAT crypto price. Here’s when it could reach $1.
Soon after its inception, the GOAT crypto price maintained a consolidated ascending trend before the bears dragged the levels by 40% below the support. Besides, market sentiments are turning bearish, suggesting the price may face some selling pressure. The stochastic RSI has reached the upper threshold and may plunge. Hence the price is believed to pierce below the interim support at $0.64 and eventually reach $0.6. Here if the bulls fail to trigger a rebound, the rally may head towards the support around $0.35, which appears unlikely as of now.
The GOAT/USDT pair is making huge waves within the markets as traders are piling into this altcoin. Besides, the memecoin has benefitted from the increased market interest but the question remains whether this is sustainable.
