Memecoins
Meme Coins See Strong Selloff as GameStop Losses Widen | Video
Today’s chart is brought to you by crypto.com, the leading crypto platform trusted by over 80 million users worldwide. Let’s take a look at today’s chart. GME ended Monday at $24.89, down 62% from its two-year high of $61. Last Thursday, losses spread to meme tokens that tend to mirror stock movements. The Solana-based Meme Token GME, which parodies the company, slipped more than 10% that day. Related tokens like roaring cat and other cat-themed tokens have lost on average at least 5% according to coin gecko data. Ge shares have soared since late May following the return of retail trader Keith Gill for the first time since 2021, while gains were erased after Gaub announced he would sell up to 70 million actions. And that’s it for today’s chart of the day. I’m Helene Brown for Jen and Asi and we’ll see you next time.