Goat came to 71% today after it had obtained a list on Binance Alpha, so that the road was cleared for a possible future list on the main exchange.
According to data from Crypto.news, Solana-based Memecoin Goatseus Maximus (Goat) rose to an intraday highlight of $ 0.248, the highest level since January 25, and almost 600% compared to the low point of last month. The rise came alongside a huge peak of 178% in trade volume, with almost $ 373 million in goats that were traded in 24 hours.
There are three main catalysts who today ride the win of goat crypto.
First, Goat was recently added To the Binance Alpha platform, a spotlight section within Crypto exchange Binance that was designed to mark us users at an early stage or trending crypto projects.
Although a list on Binance Alpha does not automatically mean that Binance is listing token, projects that can be seen on Alpha often have considerable exposure, and if they show a strong community interest, trade volume and sustainability, they have a greater chance of being fully mentioned on Binance in the future.
Secondly, the rally of GOAT is amid a wider rally at the bottom of Solana-based memecoins, where the sector wins 10.5% in the past day, while other major players such as Dogwifhat (WIF), Peanut The Squirrel (Pnut), Cat in A Dogs World (Moo. Derg) experienced the Tertters World.
Finally, the activity on the Derivatenmarkt was picked up strongly in the past day. Facts Van Coinglass shows the open interest in goatfutures in the last 24 hours by 61% in writing, sitting at a highest point in four months of $ 161.7 million.
In the meantime, the long/short ratio on Binance was far above 1 from the last check, which is a sign that more traders are gambling that goat will continue to climb in the short term.
Together the data point to a growing wave of speculative optimism, in which traders apparently position it for an outbreak such as goat protects a complete Binance list.
Goat price analysis
Looking at the GOAT price action, the technical graphs are also flashy bullish signals. On the daily USDT graph, the 20-day exponential advancing average just above the 50-day advancing average is crossed and a bullish ‘Golden Cross’ formed.
The Supertrend indicator has also turned green, which suggests that the trend stays up.
In addition, the Money Flow Index 91, pointing to strong purchasing pressure and new funds that flow into goats, suggested that bulls remain firm in control despite the overbought lecture.
Given this bullish setup, the next target for goat is probably around the area of $ 0.39 to $ 0.41, a crucial support zone. If Goat breaks this zone, it can collect in the direction of its annual highlight of $ 0.59, which represents around 150% benefit compared to its current level.
From the last update, Goat has been somewhat withdrawn from his daily peak and it is traded around $ 0.22 per coin.
Publication: This article does not represent investment advice. The content and materials on this page are only for educational purposes.
