Memecoins
GameStop Solana Meme Coin GME and Iggy Azalea’s MOTHER See Big Weekly Losses
The last 7 days have been difficult for Solana meme coins, with the vast majority of tokens declining between 20% and 50%. Amid the ongoing rout, GME and MOTHER have been hit the hardest.
GME, which is not affiliated but rather inspired by GameStop, is down 54% over the last 7 days. This is likely because Keith Gill, better known online as Roaring Kitty, shared his holdings on the social media platform Reddit, which showed that the meme stock mascot no longer held GameStop options, which were once worth $82 million.
Last week, GME witnessed an astonishing rally of 467% after it was revealed that influential trader Roaring Kitty would return to live streaming after a nearly 3-year hiatus. But when his stream went liveGameStop’s stock price was plummeting.
Meanwhile, MOTHER, a coin launched by rapper Iggy Azalea, fell by 38% over the last 7 days.
Australian rapper spear the coin on May 30. She has also expressed her love for the cryptocurrency space and hosted Twitter Spaces, a feature that allows users to host live audio interactions in a group environment, which has attracted the attention of over 380,000 Twitter users.
Besides GME and MOTHER, Solana meme coins like BODEN and michi, which both rebounded earlier in the week, saw a sharp decline.
BODEN, an intentional mistake by outgoing US President Joe Biden, is down 30% over the last 7 days. The token rose 9% after the discovery of Hunter Biden, one of Joe Biden’s sons. guilty for three firearms-related charges.
Meanwhile, Michi, who posted gains of 18% on Monday after the pop star Arianna Grande shared the meme on her Instagram account, broke down 26% over the last 7 days.
Solana meme heavyweight corner Dogwifhat (WIF), BONKand Book of Meme (BOME) are down 26%, 19%, And 18%, respectively, during the last 7 days.
Edited by Stacy Elliott.