GME Token Outperforms Stocks, 15 Billion FLOKI Burned, SHIB Could Reach $1 in 15 Years

Last Updated: May 20, 2024 11:07am EDT | 4 minute read

Get your weekly digest of meme coin news.

This week read about:

• Meme Coin News: Market Highlights
• GameStop Meme Coin (GME) Outperforms Stock
• FLOKI DAO Votes “Yes” to Burn 15.25 Billion Coins
• Shina Inu could reach $1 by 2050

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Meme Coin News: Market Highlights

The global cryptocurrency market capitalization saw a decline of 0.4% over the past day to $2.54 trillion.

GME it is the best performing meme coin in the last 24 hours and is discussed in more detail below.

Next in line is OMIKAMIup 41% to $0.02407.

Many other meme coins are in green.

On the other hand, WHO PROSPERS he got the worst of it. It is down 17% at $0.03416.

Performed by JESUS, PIG, ANDYAND OMNOMall with double-digit reductions.

When it comes to the top 10 meme coins by market cap, two have seen their prices increase.

Source: cryptonews.com/coins/meme-coins/

Dogwifhat (WIF) is up nearly 5%, trading at $2.68.

At the same time, PEPPER appreciated 1.3% to $0.00001.

BONK recorded the largest decline in this category. It is down 6.2%, currently changing hands at $0.00003.

TokenFi (TOKEN) is next among the red coins, having lost 5% to $0.10627.

The remaining coins are decreasing Coq Inu (COQ). 0.78% e Memecoin (MEME). 3.9%.

GameStop Meme Coin (GME) Outperforms Stock

In this week’s meme coin news, the GME The token has recently emerged from dormancy, recording significant gains in recent days.

In the last 24 hours alone, it has appreciated by 42%, changing hands at $0.007012.

Furthermore, in the last seven days, it has seen a massive increase of 187%.

At the time of writing, it is the best performing coin in the 24-hour category.

Only in the 7 day category OMIKAMI AND PONKE get over it.

The sudden jump in the coin can be clearly seen on the 1-month chart, as shown below.

Source: CoinGecko

Despite its sideways trend over the past two months or so, the coin rallied sharply on May 12.

It rose 2.107% the next day and 3.865% by May 14.

Just a day later, it reached its all-time high of $0.02167, losing 67% since then.

AS reportedThe Ethereum-based token has seen a resurgence following traders’ return to Twitter Roaring kittenknown for unleashing the (in)famous GameStop frenzy in the first place.

This post has been viewed more than 27.5 million times so far.

Furthermore, the latest wave has unsurprisingly prompted the creation of more GME-denominated coins.

As for GME stock, it went from $17.46 to $48.75 by May 14, an increase of 179.2%.

It is up 122% in the last month and down 15.55% in the last five days.

Source: Google

Over the past day, it has fallen nearly 20% to $22.21.

This shows that the meme coin has far outperformed the stock.

FLOKI DAO Votes “Yes” to Burn 15.25 Billion Coins

FLOKI announced on Wednesday that the Decentralized Autonomous Organization (DAO) had voted in favor of burning nearly 15.25 billion FLOKI tokens, which are currently worth just under $3 million.

Notably, the decision was reached almost unanimously.

The coins will be burned this week.

The proposal it went live on May 13th.

He noted that the DAO has held three key burn-related votes so far.

“In each of these cases, the Floki DAO decision was executed quickly, making it clear that Floki is a fully decentralized cryptocurrency and that Floki DAO ultimately determines the direction of the project.” She said.

One of the votes focused on burning excess tokens recovered from the blacklisted wallet in July 2022.

Some of the affected wallets did not send the tokens before the deadline. However, one of them recently sent more than 15 billion FLOKI (currently worth over $2.8 million), asking for “a small incentive in return.”

The proposal suggested giving the affected wallet 1% of the returned tokens (154,000,000 tokens), hoping to incentivize other interested wallets to send the excess tokens currently in their possession.

Excess tokens not returned should be considered burned and inaccessible, the proposal reads. Blacklisted wallets can’t do anything about it except send them to the Floki multisig.

FLOKI has fallen by 1.5% over the past 24 hours, and is currently trading at $0.000196.

However, it has appreciated by almost 14% in the past week.

Meanwhile, FLOKI recently announced that it has nearly half a million followers on its CoinMarketCap community page.

In particular, Revolutionary Affairs FLOKI recently listedallowing European trading accounts to invest in the asset.

Shina Inu could reach $1 by 2050

In other meme coin news, by 2050, SHIB could be worth $1. This would be an excellent development for long-term big bag holders.

To reach this conclusion, meteorologist Telegaon they analyzed factors such as market trends, investor sentiment, trading volume, technological developments and external influences, he said.

For According to analysts’ forecasts, the maximum price of SHIB this year could reach $0.0000601.

In 2025, this price could rise to $0.0000728. At the end of this decade, we could see the token reach $0.000712.

Over the next few years, it may lose some of these leading zeros.

Five years later, we are looking at a possibility of $0.00216, followed by $0.089 in 2040 and $1.06 in 2050.

The average price by 2050 could reach $0.89 and as low as $0.62.

Source: Telegaon

Currently the 12th largest coin by market capitalization, SHIB is trading at $0.00002396.

It fell 0.3% in a day and increased 0.5% in a week.

Over the past year, the price of the coin has increased by 175%.

It reached its all-time high of $0.00008616 in October 2021. SHIB has fallen 72% since then.

The currency, however, has grown by as much as 42,564,577.6% compared to the historic low recorded in November 2020.

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