This is how Peanut the Squirrel (PNUT) knocked down the GOAT

GOAT, which once dominated the coin market, faced significant challenges with the emergence of Peanut the Squirrel (PNUT).

The sudden rise of PNUT disrupted GOAT’s market position, causing the coin to lose demand. Despite the slowdown, GOAT investors remain optimistic about its recovery potential.

A squirrel beats GOAT

The social GOAT domination The situation has changed considerably since October, largely due to the arrival of the PNUT. For most of October, GOAT has captured the market’s attention, benefiting from strong investor interest and widespread media hype. However, PNUT’s debut at the end of the month attracted attention, pushing GOAT out of the top trending tokens.

Currently, PNUT is the most popular asset among investors, as evidenced by its increasing mentions and active participation in social networks. This surge in attention has had a direct impact on GOAT, whose declining engagement metrics suggest a loss of momentum. Competition between these meme coins reshapes market conditions.

Despite this decline, the GOAT funding rate remains in positive territory, a sign of continued confidence among traders. Many place long-term contracts, betting on a potential price recovery. This optimism reflects the belief that GOAT still has room to regain its market dominance. coin sector.

However, the price drop has introduced uncertainty among investors, who are concerned about GOAT’s ability to maintain its market position. The positive direction of the funding rate is encouraging, but it will require strong market signals to translate into significant price increases. Traders are closely watching for signs of a potential reversal.

GOAT Price Prediction: Drop Ahead

The price of the GOAT fell 25% in the last 24 hours, from an all-time high of $1.36 to $1.01. As the asset approaches the critical $1.00 mark, further declines are likely if the bearish momentum continues.

The critical support level lies at $0.72, and a decline to this point would signal deeper losses for investors. Losing this support could exacerbate the bearish outlook, creating challenges for a rapid recovery.

Alternatively, if GOAT rebounds from $0.72, the meme coin could attempt to surpass previous highs and form a new ATH. This would invalidate the bearish thesis and re-establish GOAT as one of the leading competitors in the market. coin space.