GOUT, a memecoin on BNB Chain, has gone on an unprecedented rally, and its price has touched a new high since its inception in November 2024. Listed at $0.00000435, GOUT has hit a new all-time high of $0.00005458 representing an incredible gain of over 1000% in the last seven days.
The memecoin boasts a market cap of $6.67 million and total holders around 139,290. It recently overcame a resistance at $0.00003725. However, considering that the coin has already recorded a 1019% rise over the past week, the chances of a shorter-term correction are excessive. It fell 11% today after surging more than 35% on the same day.
Looking at the crypto market, the breakout of GOUT looks coin-selective with the general crypto sentiment in the greed territory (Fear & Greed Index:61) and the stable BTC dominance. The daily trading volume of GOUT increased to $3.87 million (+64%), and this is a sign of a great retail demand.
However, the memecoin pump is also surrounded by certain warnings. There are no announced project updates that leaked out, and the top 10 wallets combine over 30% of the total supply, causing FUD about a sell-off.
Also Read : Ripple CEO at XRP Apex: Memecoins are “Grossly Overrated”
