Memecoins
Can your $100 in GameStop (GME) turn into $1,000 during this bull run?
The GME coin price continues to show strong bullish price action in the cryptocurrency market, rewarding its investors with a 112% return from $0.004044 to $0.008596 over the past 24 hours.
The price of GameStop (GME) saw a massive increase of more than 2,000% in just a few hours over the past week following the reemergence of Keith Gill, known by the name Roaring Kitty. Following him posting a meme on the “X” platform after being in hibernation for over three years.
GameStop Token Suggests Strong Bullish Reversal:
GameStop, the latest meme coin sensation on the Solana blockchain, made its first appearance in the cryptocurrency market during the Solana-based memecoin rally in January 2024. The GME price quickly gained the market’s attention, surging to stars its price by 58,000X in a short period.
This made the GameStop (GME) token one of the most successful memecoins in the Solana ecosystem along with other memecoins such as Bonk (BONK) and Dogwifhat (WIF) which had shown similar price action after their launch.
TradingView: GME/USDT
At the time of writing, the GME token was listed with a trading price of $0.00789189 and recorded a trading volume of $82.047 million, a jump of +84.31% in the past day. Furthermore, over the past seven days, it has gained over 220%, indicating strong bullish sentiment for this memecoin.
GameStop (GME) Market Sentiments:
The simple moving average (SMA) shows bullish sentiment in the crypto space supporting the price chart.
Furthermore, the RSI continues to show an upward trend as it approaches the overbought range with its average hovering near the midpoint.
Will the price of GME ever rise?
If the enthusiasm for memecoins continues to grow, market bulls will prepare to push GME price towards the $0.0200 upper resistance level by the end of the month.
However, if the memecoin sees an increase in the selling price, GameStop price would plummet towards the crucial support level of $0.00237 in the coming times.