Memecoins
Can your $100 in GameStop (GME) turn into $1,000 during this Bull Run?
GME coin price continues to show a strong bullish trend in the crypto market rewarding its investors with a 112% return from $0.004044 to $0.008596 in the last 24 hours.
GameStop (GME) price saw a massive surge of over 2,000% in a matter of hours over the past week following the re-emergence of Keith Gill, known as Roaring Kitty. Following his post on a meme on the “X” platform after being in hibernation for more than three years.
The GameStop token hints at a strong bullish reversal:
The latest sensational coin on the Solana blockchain, GameStop made its first appearance in the crypto market during the Solana-based memecoin rally in January 2024. The price of GME quickly attracted market attention, which made increase its price by 58,000 times in a short time.
This made the GameStop (GME) token one of the most successful memecoins in the Solana ecosystem, alongside other memecoins such as Bonk (BONK) and Dogwifhat (WIF) which had exhibited similar price action after their launch.
TradingView: GME/USDT
At the time of writing, the GME token was listed at a trading price of $0.00789189 and recorded a trading volume of $82.047 million, a +84.31% jump over the last day. Additionally, over the past seven days, it has increased by over 220%, indicating strong bullish sentiment for this memecoin.
GameStop (GME) Market Sentiments:
The simple moving average (SMA) is showing bullish sentiment in the crypto space by supporting the price chart.
Additionally, the RSI continues to trend upward as it approaches the overbought range, with its average hovering near the midpoint.
Will the price of GME ever rise again?
If the hype around memecoins continues to intensify, market bulls will prepare to push GME price towards its upper resistance level of $0.0200 by the end of the month.
However, if the memecoin selling price increases, GameStop price will plunge towards its crucial support level of $0.00237 in the coming times.