Moodeng MOODENG/USD and Goatseus Maximus GOAT/USD continue to make headlines in the meme coin world, with both coins netting traders handy profits amid continuing rallies.
What Happened: On-chain analytics provider Lookonchain highlighted a trader buying 2.77 million MOODENG for 1,300 Solana SOL/USD, selling it for 2,109 SOL and netting $140,000 (809 SOL). A similar strategy was used the prior day for GOAT, where the trader made a quick 99 SOL, which amounts to $17,000 by capitalizing on Binance's announcement of the listing of both the coins' perpetual contract.
This incident underscores the profit potential—and risk—of trading newly listed assets on major exchanges like Binance. However, this strategy also carries considerable risk, as the value of newly listed cryptocurrencies can fluctuate wildly.
Why It Matters: After significant recent gains for Moodeng and GOAT, crypto trader CryptoBull 360 highlighted Moodeng's strong breakout from its falling wedge resistance following Binance's perpetual listing announcement. With rising volume and strong momentum, the coin is viewed as having substantial growth potential, prompting traders to keep a close watch.
Meanwhile, Astronomer Zero noted GOAT’s 33% drop from its all-time high but remains optimistic. He commented, "The price levels, timing, and sentiment suggest it needs a longer correction, which is why I sold above $0.8." Despite the current downtrend, he expects GOAT to reach new peaks, seeing sub-$0.3 as a potential entry point for another rally to all-time highs in the future.
What’s Next: The influence of meme coins is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.
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