GOAT Token Skyrockets 273% in Wild 5-Day Rally – Can Bulls Hold the $0.2 Line?

Meme coin mania strikes again as GOAT defies gravity with a 273% pump—because nothing says ’sound investment’ like barnyard-themed crypto.

Bullish traders now scramble to defend the $0.20 support level, while skeptics eye exit liquidity. Will this turn into another ’hold my beer’ moment for degens?

One thing’s certain: Wall Street quants are furiously backtesting how to algorithmically trade tokens named after livestock.

Source: CoinMarketCap

The memecoin market cap was at $52.7 billion on the 6th of May. Six days later, it has surged to $73 billion,  a 27.8% increase.

The largest memecoins have performed well over the past week, with Dogecoin [DOGE] seeing a 38% gain, shiba inu [SHIB] a 28% rally, and Pepe [PEPE] a whopping 76% surge.

Source: DOGE/USDT on TradingView

The short-term Dogecoin outlook was bullish. It defended the $0.222 support that an earlier report highlighted as a key level.

The steady buying pressure on dogecoin boded well for the rest of the meme coin market, too — it signaled bullish sentiment. This could help Goatseus Maximus [GOAT].

GOAT could extend its gains

Source: GOAT/USDT on TradingView

Since mid-March, the small mcap meme GOAT has consolidated around the $0.055 level. It reached a low of $0.035 on the 7th of April. Since then, GOAT has rallied by a stunning 460%.

It broke the $0.065 resistance level toward the end of April and retested the same level as support in the first week of May. This set up the token for an intense rally.

The memecoin has broken two key resistance levels at $0.116 and $0.198.

At press time, GOAT bulls were fighting to defend the latter level as support. The technical indicators also outlined bullishness. The OBV has been in a steady uptrend since March.

The RSI was at 82 at press time. While it did not spell the end of the rally, the overbought conditions showed that a short-term price dip was possible.

GOAT could see some consolidation around $0.198-$0.2 in the short term before continuing its rally.

A drop below $0.198 WOULD mean that the $0.144-$0.174 demand zone could be retested next.