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Too many GameStop meme stock revival—and the related meme coin surge.
With GameStop’s recent stock price gains all but evaporating, Solana’s unofficial GameStop tribute coin has similarly fallen. Breaks all-time high this week. In GME tokens The price fell to $0.0067.It’s down 69% from the new high set on Wednesday, according to data from CoinGecko.
Solana’s GME, which has no formal affiliation with the video game retailer, has been flat for several weeks since its January launch. a brief boost of momentum Early February. Trading volume over the last 24 hours has fallen to around $65 million. This coincides with a price drop to about a third of this week’s high.
Despite this, the GME token is still up 1,080% over the past week. This is better than the actual GameStop stock price, which is up about 17% from last Friday’s market close. At the current price of $20.50, GME stock is down 68% since Tuesday’s high. Google Finance.
Shares of GameStop soared on Monday following an apparent comeback. roaring kitty, aka Keith Gill, is the GME enthusiast who sparked the 2021 meme stock craze. So-called meme stocks, such as movie theater chain AMC, also surged this week, along with meme cryptocurrencies.
But the rumors didn’t last. That’s probably partly because Roaring Kitty hasn’t really done much since. The merchant’s Twitter account continues to share memes and edited movie clips This hints at his early antics and financial systems, but he hasn’t resumed live streaming or posting bullshit on Reddit.
Is it already game over for meme stock surges? Or is there another upside left for GME?
disclaimer
The views and opinions expressed by the author are for information purposes only and do not constitute financial, investment or other advice.
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