A major investor in the GOAT token has liquidated a major portion of their holdings, realizing a $3.2 million profit.
This development coincides with a strong upward movement in the GOAT token’s price, which has risen 17.1% in the last 24 hours and 163.8% over the past week.
Blockchain analytics firm Lookonchain reported the transaction details. The whale initially purchased 10.71 million GOAT tokens for 602.64 SOL (Solana’s native token).
They subsequently sold 9.25 million GOAT for 19,669 SOL, resulting in a net profit of 19,067 SOL, equivalent to approximately $3.2 million at current prices. This transaction represents a 32x return on the initial investment.
A $GOAT whale is selling $GOAT for profit!
This whale spent 602.64 $SOL to buy 10.71M $GOAT and sold 9.25M $GOAT for 19,669 $SOL, with a realized profit of 19,067 $SOL($3.2M) and a return of 32x.
He still holds 1.46M $GOAT($506K).https://t.co/NlX8ItvNTc pic.twitter.com/592Y19J36f
— Lookonchain (@lookonchain) October 21, 2024
GOAT Token’s rapid price surge
The GOAT token has experienced major price volatility in recent days. On October 13, 2024, it reached its all-time low of $0.04354. Just six days later, on October 19, 2024, it hit an all-time high of $0.5311, marking a 703.1% increase in value over this short period.
As of the latest data, GOAT is trading at $0.3474, which represents a 34.2% decrease from its recent all-time high. Despite this retracement, the token maintains a substantial gain from its recent low.
The whale investor still holds 1.46 million GOAT tokens, valued at approximately $506,000. This retained position suggests the investor may anticipate further price appreciation.
GOAT has been gaining traction recently for its surge and its sudden pump, creating a few millionaires in a short span of time.
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