• Home
  • GOAT meme coin drops 9.5%, traders eye key support

GOAT meme coin drops 9.5%, traders eye key support

The Essentials at a Glance
  • GOAT, a leading meme coin, saw a 9.5% decline and is currently priced at 1.08 USD.
  • The coin previously reached a high of 1.40 USD before encountering resistance and undergoing a correction.
  • Analysts are closely monitoring the support at 1.08 USD, as it is considered a potential turning point for a recovery.
  • The Open Interest (OI) for GOAT futures stands at 238.8 million USD, indicating strong trading interest.

GOAT: A Decline After a Strong Surge

The cryptocurrency Goatseus Maximus (GOAT), launched on the Solana-based launchpad platform Pump.fun, has experienced notable price movements in recent days. After a rise to 1.40 USD, the price dropped by 9.5%, currently trading at 1.08 USD. Despite this decline, GOAT has seen an impressive increase of 25.87% over the past seven days.

With a circulating supply of 1 billion tokens, GOAT’s market capitalization is currently at 1.04 billion USD. The daily trading volume of 382.8 million USD shows that the coin remains in the spotlight for many investors.

Key Support Zones in Focus

GOAT’s decline came after the price reached the 1.40 USD mark, which acted as a strong resistance level. This level triggered selling pressure, leading to the drop. Analysts are now watching the support at 1.08 USD, as this zone has previously served as a stabilizing factor.

alert-circle
You can also find us on Telegram: Click here to follow our Telegram channel.

According to crypto analyst Miles Deutscher, the price has bounced multiple times from the so-called “money noodle” indicator zone, suggesting dynamic support. If the price bounces from this zone again, it could trigger another rally. Further support zones are at 0.80 USD and 0.60 USD, though they have not been tested recently.

Trading Activity and Open Interest

Data from Coinalyze shows that the Open Interest (OI) for GOAT’s perpetual futures contracts stands at 238.8 million USD, a 1.75% decline over the past 24 hours. This drop could indicate that some investors are closing their positions due to recent price fluctuations.

Binance and Bybit dominate the futures market for GOAT, accounting for 94% of the total OI. Binance holds the largest share with 122.7 million USD, followed by Bybit with 102.6 million USD. Other platforms like OKX and Kraken play a smaller role in the market.

Market Outlook: Recovery or Further Decline?

GOAT’s price movements reflect the broader trend in the crypto market, where short-term pullbacks follow longer rallies. The key to future developments lies in GOAT’s ability to hold the support level at 1.08 USD. If the price falls below this level, the next supports at 0.80 USD and 0.60 USD could come into play.

On the other hand, a successful bounce from the current support could initiate a new upward movement. Traders are closely watching this area to identify potential entry points.

Our Assessment

Despite the recent decline, GOAT has shown strong weekly performance. The support at 1.08 USD will be crucial in determining whether a recovery can begin. The high Open Interest in the futures markets suggests that the coin remains a focus for traders. However, investors should proceed with caution and closely monitor the coming days for potential signals of either a continuation of the rally or a further decline.

100% without limit + 100 Free Spins
Welcome bonus
Cryptocurrencies (20)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Bonk Coin Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Floki Coin Logo
  • Litecoin Casino
  • Pepe Coin Logo
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tamadoge Logo
  • Tether (USDT) Logo
  • Toncoin Logo
  • tron-logo
  • usd-coin-logo
CoinKings review
Bonus Information CoinKings
Wagering requirements 35x bonus
35x free spins winnings
Minimum deposit €20
Maximum bet €5
Bonus validity 30 days to claim
14 days to wager / 7 days for free spins
  • There is no maximum bonus amount.
  • 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
How did we rate this casino

In addition to an unlimited bonus, Coinkings.io has a lot to offer. We have a high tolerance for VPNs, an impeccable selection of cryptocurrencies and, above all, an experienced team that immediately provided a wide range of games. In combination, all of this is very convincing.

Author & Responsibility: Gregor Ziegler
Last update by Christian Dräger on 3. December 2024
The Curaçao Gaming Control Board Logo (onlight)
Curaçao
Licence
Up to 1.03 BTC + 225 Free Spins
Welcome bonus
Cryptocurrencies (29)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Bonk Coin Logo
  • Chainlink_Logo
  • dai-logo
  • Dogecoin Logo
  • Ethereum Logo
  • Floki Coin Logo
  • Litecoin Casino
  • Pepe Coin Logo
  • Polygon (MATIC) Signet
  • Ripple XRP Logo
  • Tether (USDT) Logo
  • Toncoin Logo
  • tron-logo
  • usd-coin-logo
  • Zcash Signet (black)
Bets.io review
Bonus Information Bets.io
Wagering requirements 40x bonus
40x free spins winnings
Minimum deposit 0.0005 BTC
Maximum bet 0.00004 BTC
Bonus validity 30 days after registration
14 days (1st), 7 days (2nd), 1 day (3rd)
  • To get the bonus, enter the bonus code before the deposit.
  • Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
  • Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
  • Free spins are provided in batches of 25 per day.
  • Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
How did we rate this casino

Bets.io stands out as one of our top-rated crypto casinos. It combines everything you love about Dama casinos — like a stellar game selection and rock-solid reliability — with a refreshing twist: no frustrating KYC processes and no outdated payment methods.

Author & Responsibility: Steven Harper
Last update by Abby Richards on 3. December 2024
Anjuan Gaming
Anjouan
Licence
100% up to 1 BTC
Welcome bonus
Cryptocurrencies (9)
  • Bitcoin Logo
  • Bitcoin Cash Logo
  • Dogecoin Logo
  • Ethereum Logo
  • Litecoin Casino
  • Tether (USDT) Logo
  • tron-logo
  • usd-coin-logo
Metaspins review
Bonus Information Metaspins
Wagering requirements 40x bonus
Minimum deposit 0,1 mBTC
Maximum bet $5 per spin
Bonus validity 7 days to wager
  • There is no cap on winnings or withdrawals.
How did we rate this casino

Metaspins is still a very young crypto casino, but it can already convince with a very modern website, a good selection of games and, above all, an excellent bonus.

Isabella Brown
Author & Responsibility: Isabella Brown
Last update by Gregor Ziegler on 3. December 2024
The Curaçao Gaming Control Board Logo (onlight)
Curaçao
Licence

Latest News

Created by

Before joining Kryptocasinos.com I've worked with some of the biggest brands in the iGaming industry. I currently lead the North American initiatives at KC, overseeing our reviews process for the US and Canada. In my leisure moments, you'll discover me immersed in the creation of avant-garde fractal art or engaging in culinary experiments as I invent new dishes.

Last update: 20. November 2024

kryptocasinos.com Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

🍪
We use cookies. By using this site, you accept them.

Compare Casinos Choose up to 3 casinos to compare