Whale Wins More Than IDR 140 Billion Profit From GOAT Token

Whale made more than Rp140 billion in profit from GOAT tokens (Photo; Doc. Jacercover)

JAKARTA - Recently,GOAT, Solana-based meme token, stole the attention of a whale holder of large amounts of crypto assets releasing more than 9.23 million tokens, worth around IDR 111 billion (around 7.13 million US Dollars).

This sale comes as the price of GOAT soars to Rp14,232 (approximately 0.91 US Dollars) after the announcement that the token will be traded on Binance. This whale action was revealed by Lookonchain, a blockchain transaction tracking platform, in a post on X (formerly Twitter), showing how large movements in the crypto ecosystem can significantly affect token prices.

Reporting from Coinpedia, this whale managed to gain more than IDR 140 billion (approximately 9 million US Dollars) and retained most of its investment despite selling large amounts. According to the Lookonchain report, whales initially invested more than IDR 117 billion (approximately 7.5 million US Dollars) to acquire 22.48 million GOAT tokens at an average price of IDR 5,223 (approximately 0.334 US Dollars) per token.

As prices soared, the whale decided to sell most of its portfolio. After the GOAT price reached IDR 12,089 (about US$0.773), this whale managed to sell 6.7 million tokens worth around IDR 81 billion (around US$5.18 million) and then deposited more than 2.53 million tokens into the Gate.io exchange, worth around IDR 30 billion (about US$1.95 million).

Although these sales caused GOAT prices to drop more than 30% on October 24, 2024, these tokens show signs of recovery with prices rising again. Currently, GOAT is trading around IDR 11,776 (approximately 0.753 US Dollars), with price spikes of more than 6.5% in the last 24 hours.

The surge in GOAT prices caught the attention of traders and investors, increasing trading volume by 32% in the same period. This reflects the growing interest among the crypto community in this token, possibly triggered by trade announcements in Binance and whale activity. Other Solana-based meme tokens such as Dogwifhat (WIF), Popcat (POPCAT), Bonk (BONK), Cat in a Dogs World (MEW), and Book of Meme (BOME) also recorded significant price increases, suggesting that the meme token market is in a positive growth phase.