- GOAT and ACT I, two AI meme coins, are experiencing a significant price drop after an incredible surge following their listing on Binance.
- Both coins are currently testing crucial support levels, with GOAT around $0.73 and ACT I around $0.40, as buyers attempt to establish a base for potential recovery.
- CatSlap, another meme coin with a gamified slapping experience, hit an ATH of $62 million before correcting and is now being seen as a potential entry opportunity before its next move.
The astronomical rise of AI meme coins GOAT and Act I captivated the crypto world. Listings on Binance sent their market caps soaring to $1.3 billion and $885 million. But after reaching these dizzying heights, both coins have crashed back down to earth.
The Story So Far
GOAT and Act I took different paths to crypto fame. GOAT exploded almost immediately, reaching a $1 billion market cap without even being listed on Binance Spot. Act I, on the other hand, tread water for weeks before suddenly pumping after its Binance listing.
Now, both coins find themselves deep in correction territory, bleeding away much of their gains. With GOAT hovering around $73 million and Act I struggling to hold $40 million, the question is whether this is a temporary setback or the end of the road.
Tracking the Price Action
GOAT Attempts to Defend Crucial Support
The GOAT chart shows a clear change in sentiment from its euphoric climb to ATH. The current downtrend is characterized by lower highs and lower lows as buyers flee.
GOAT appears to be trying to stabilize around the $73 million level. Repeated bounces off this support indicate some buying interest. However, the strength of this support remains uncertain.
Around $85 million, we see the 30-day moving average posing formidable resistance. This downward sloping MA reflects the bearish mood.
Act I Trades Sideways Above Support
For Act I, the Binance listing hype propelled it to an ATH of $883 million. But the peak was short-lived.
Now, Act I is hovering above support at approximately $40 million. The token has made several touches of this level, suggesting it could be establishing a base.
However, since there isn’t much price history in this range, the stability of support remains questionable. A break below $40 million could open the door to further declines.
Is the AI Meme Coin Run Over?
While both projects face precarious support levels, the AI meme coin trend could quickly reignite. The metaverse and AI narrative still carries strong appeal in this cycle.
For traders willing to take the risk, GOAT and Act I may offer an opportunity at these key support zones. But whether the AI fire has burned out or just paused to catch its breath remains to be seen. The next few weeks will determine if this is a dip to buy or the start of a new bearish chapter.
