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GOAT and NEIRO are the big bets of the new “memecycle”
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With the strong appreciation of Bitcoin (BTC), traders are starting to prepare for a new bullish cycle. And in addition to being the largest cryptocurrency on the market, memecoins continue to dictate the direction of this cycle in terms of prices.
In this sense, Goatseus Maximus (GOAT) continues to appear among the memecoins with the highest gains. Since last week, the cryptocurrency has registered 160% this week reaching $0.74, a new all-time high. According to CoinGecko, the cryptocurrency has already surpassed US$840 million in market value.
Heavily promoted by AI chatbot Truth Terminal, GOAT is poised to become the next memecoin to surpass the $1 billion mark. But in addition to GOAT, another memecoin that is in the pre-sale phase has the potential to reach this symbolic value: Pepe Unchained.
At the time of publishing this text, the price of GOAT has risen 600% since October 15, according to CoinGecko. After creating a local bottom of $0.20 on October 21, memecoin soared more than 250%.
GOAT Price Prediction
Consequently, the possibility of a short-term pullback can no longer be underestimated. For example, its Relative Strength Index (RSI) is now above the 72 mark, which typically means the asset is overbought.
Furthermore, the recent trend suggests that most new meme coins, such as POPCAT and BRETT, experience a substantial cooling period after reaching the $1 billion mark.
For example, Popcat recovered from a $370 million valuation to a $940 million market cap in just 17 days. However, it saw a sharp 67% correction and fell back to the $300 million mark before soaring to a $1.5 billion market capitalization.
However, the beginning of Bitcoin’s bull cycle could contribute to GOAT continuing to renew historic highs. Another memecoin that continues to rise sharply is NEIRO, which appreciated by more than 84% last week.
GOAT’s price prediction, according to the trader known as Astronomer, is dubious. He reached the bottom of the memecoin price at US$0.20 and set up a large position, being optimistic about GOAT. However, Astronomer also believes that memecoin could correct and seek that bottom again.
Unlike GOAT, Pepe Unchained is still in the pre-sale phase and its token has not been launched. But the project raised more than US$26 million in this phase alone, revealing a great demand from investors.
GOAT and NEIRO are the big bets of the new “memecycle”
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GOAT and NEIRO are the big bets of the new “memecycle”
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GOAT and NEIRO are the big bets of the new “memecycle”
