GOAT soars nearly 30% after OKX listing announcement

OKX announced that it will list the viral Solana-based meme coin GOAT for spot trading on its platform at 10:00 UTC on December 12. Shortly after the notification, the price of the token increased by 28.8%.

OKX, one of the largest crypto exchanges by trading volume, announced that it will list the popular memecoin Goatseus Maximus (GOAT) on December 12. Deposits for the token will open at 6:00 UTC, while spot trading will be available for GOAT. /USDT pairs will launch at 10:00 UTC. Users will be able to withdraw GOAT starting at 14:00 UTC.

After the notification was published, the Goatseus Maximus token saw an increase in price. According to Crypto.news data, GOAT has skyrocketed by 28.8% in the last 24 hours. The token is currently trading at $0.83. Last week, the token increased by 9.47%.

GOAT has a market cap of $809 million, placing it 21st among the top meme coins by market cap. The token maintained a 24-hour trading volume of $492 million and a circulating supply of more than 999 million tokens.

Last 24-hour trading price chart for GOAT, December 12, 2024 | Source: CoinGecko.

OKX stated that it would restrict market orders for the first five minutes after trading begins to protect investors from price fluctuations. Each order is limited to a maximum value of $10,000.

According to the announcement, the crypto exchange will hold an auction system for GOAT, which is scheduled to take place on December 12 between 09:00 UTC and 10:00 UTC. The call auction mechanism will allow users to submit buy and sell orders at desired prices according to trading parameters before the trading pair is officially launched.

The trading system will generate an opening price based on submissions and auction rules. At the end of the call auction, OKX will display the opening price of the project team when spot trading begins. The opening price of the project team is for informational purposes only, it does not determine the opening price set by the call auction mechanism and does not affect transaction prices.

Goatseus Maximus was born from an idea created by Andy Ayrey and Truth Terminal, an AI chatbot that operates semi-autonomously with human moderators moderating X posts. The GOAT appeared during one of Truth Terminal’s soliloquies. It didn’t take long for the GOAT token to be created on Pump.fun. GOAT’s market value rose rapidly after its founding.