A cryptocurrency analyst and trader is leaning bullish on a memecoin that launched earlier this month.
The analyst pseudonymously known as Sherpa tells his 11,300 YouTube subscribers that the Goatseus Maximus (GOAT) memecoin is “going to go much higher.”
Designed as a memecoin on the Solana (SOL) blockchain, GOAT is in an emerging niche of memecoins that rely on viral content and community engagement to popularize themselves while being promoted by artificial intelligence (AI) bots.
“…they’re the strongest because GOAT was the first of its kind. It came out the strongest, it’s going to be the presumed leader of this category. Now whether or not people actually understand it, understand the framing of these coins, that’s another story.”
According to Sherpa, GOAT is likely to undergo a correction before surging higher.
“I believe will continue chopping around, which is totally fine – it went from 0 to $500 million market cap in a week. It wouldn’t surprise me at all to see some more like consolidation like this and maybe even another poke at the $0.27 mark. This would be a pretty decent area [around $0.27 to $0.38] to buy.”
The pseudonymous analyst says a consolidation phase for GOAT would increase the chances of a more sustainable rally.
“I would like to see some consolidation for this coin. I want to see some chop, I want to see… … [GOAT] build a bigger base and just relax for like a week. That would be pretty awesome to see.”
Goatseus Maximus is trading at $0.74 at time of writing, up by around 1,540% from the October 13 low of $0.0435.
Generated Image: Midjourney