On May 14, GameStop (GME) had a massive surge of over 450%, creating a lot of hype around it. This meme coin emerged at the end of January using GameStop's logo and name, but they've claimed to have no direct affiliation with the parent company.
It all began with Keith Gill, a famous investor known for spearheading the meme stock rally utilizing the name 'Roaring Kitty.' Gill targeted this meme coin and rallied day traders from Reddit to squeeze the company's short sellers more than two years ago.
Gill recently posted on X a man leaning in a seat holding a gaming controller, which traders interpreted that he might be coming back to social media to support GME.
Brief History: GameStop Cryptocurrency
GameStop is a meme coin-based. And just like the typical meme coin, GME is solely driven by the community and the hype around social media. Recently, the GameStop stock has witnessed an outstanding performance in the stock market, which resulted in the stock being halted multiple times amid the considerable surge.
US stocks, like GameStop, are exposed to circuit breaker systems designed to prevent prices from getting out of control. Affected by the GME of the US stock market last night, the meme coin GME price exploded, and the heat is still very high.
In turn, crypto enthusiasts took to social media to laugh at the stock traders just because they couldn't leverage the price action of their GameStop stock.
GME Price Rise on CoinEx
With a slogan like “Wall St. can't stop us now,” it's easy to see how GME is using the current stock vs crypto traders “war” on social media to further fuel its price action. The last time this coin had such publicity was back when Keith Gill was active on social media. The coin gained a whopping 1000% in less than a month.
Most speculators are now actively stocking up their GME coins in anticipation that this could happen again. As of May 14, the coin was already up by 450% and counting. Though the 1000% jump might seem like a far-fetched dream, GME's current performance shows it could reach such numbers and go even higher.
However, it's important to note that trading meme coins is risky. You could easily lose all your investment in the blink of an eye. Therefore, being cautious with your investment decisions will help you prevent huge losses. If, for some reason, the heat around GME reduces, this coin could quickly come crashing down.
And true to that, the price came down after clocking an all-time high of 0.0188 USDT. Most speculators still believe this is a cooling-off session, and the coin is gathering its strength to continue soaring even higher.
That said, you can still earn a fortune trading GME coins with careful planning. The quickest and most secure way to trade this coin is by using CoinEx.
Overview
- Name: GME
- Official link: https://wallstsucks.lol/
- Explorer: https://solscan.io/token/8wXtPeU6557ETkp9WHFY1n1EcU6NxDvbAggHGsMYiHsB#holders
- Total supply: 6.88B
- Contract address: 8wXtPeU6557ETkp9WHFY1n1EcU6NxDvbAggHGsMYiHsB
- Twitter: https://twitter.com/gmecoinsol
- Telegram: https://t.me/GMEonsol
- Supported CEX: CoinEx, Bitget, LBank, XT.com, OrangeX, etc
- Supported DEX: MeteoraVP, Raydium, Orca, Jupiter, etc
- Convenient for users to know in time: https://www.coinex.com/en/exchange/gme-usdt
*This article does not constitute investment advice.
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