Whale activity surrounding the AI-created GOAT meme coin is drawing attention in the crypto community, erasing a short-lived dip in Monday trading.

What Happened: Data from Lookonchain shows that a whale investor has been actively accumulating GOAT tokens, having purchased 21.39 million GOAT tokens for a total of $7.14 million at an average price of $0.3338 over the last four days, using four different wallets.

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The buying spree continues, as the whale recently withdrew an additional 2 million USDC from Binance to acquire more GOAT.

Another whale has been selling off their GOAT holdings. This investor initially spent 602.64 Solana (CRYPTO: SOL) to buy 10.71 million GOAT tokens. They have since sold 9.25 million GOAT for 19,669 SOL, netting a profit of 19,067 SOL (approximately $3.2 million) and achieving a 32x return on their investment. The whale still retains 1.46 million GOAT, valued at around $506,000.

Also Read: Dogecoin millionaires are increasing – investors with $1M+ in DOGE revealed!

Why It Matters: Crypto trader Tyler D highlighted the impressive recovery of GOAT, which had dropped to a valuation of $160 million in early Monday morning hours, before surging over 200% to reach a valuation of $400 million. He concluded his tweet with, “Dip buyers euphoric,” reflecting the excitement among investors who seized the opportunity to buy during the dip.

Renowned investor Miles Deutscher also took advantage of the drop, purchasing more GOAT tokens at around $0.20 and expressing optimism about the asset’s future performance.

Similarly, trader Eugene Ng Ah Sio increased his position in GOAT, stating, “Key positions for what I think will be a secular trend going forward. If I’m wrong, then I am your exit liquidity.”

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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This article Move Over Dogecoin, Shiba Inu: AI Meme Coin GOAT Prints Over $3 Million In Profit For Whale Trader originally appeared on Benzinga.com