GME is a memecoin on the Solana network created based on the popular GameStop meme stock which has the same ticker symbol (GME). Let’s explore this coin in detail below.
GME (GameStop)- Everything About GME
GME memecoin saw over $120 million in market capitalization within minutes after someone posted at X site saying that Roaring Kitty is back, an individual best known as a YouTuber who played a significant role during the 2021 Gamestop saga. GME takes on the slogan ‘we love this coin’ which is an ungrammatical version of the term originally used by Keith Gill and promoted by the ‘degenerates’.
History of GME Coin
Raydium launched the GME/SOL pair on January 28, 2024, thus marking the fair start at the Raydium DEX on the GameStop story anniversary. A week before that, ‘Dumb Money’ was released, a Netflix movie that was inspired by it. Just a week after coming into existence, the GME meme coin had attracted over 15,000 holders. It was not until March 2nd that people who owned the coin exceeded a total of 20,000 for once.
GME coin market cap reached a steady decline of $2.5 million on April 30, 2024, after a long period of consolidation until Keith Gill returned to social media and investment space on May 13 2024. Another memecoin inspired by GameStop and Keith Gill’s story is a cat-themed coin which alludes to a well-known YouTuber.
The Rise Of GME Meme Coin: From Roaring Kitty to Memes
Keith Gill returned to social media in what is assumed to be his X account on May 13. This person goes by “Roaring Kitty” when posting stuff online and at present more than twenty-five million views have viewed his publication which triggered havoc in the meme coin sector and Wall Street with meme stocks hitting an all-time high last seen towards the end of 2021 leading GME’s price rallying by over thirty times.
The GME meme coin is another way of commemorating the GameStop meme stock drama as per Roaring Kitty’s latest tweet. Also known as DeepFreak, Roaring Kitty is infamously credited for contributing significantly to the January 2021 historic GameStop short squeeze. Because of renewed enthusiasm for the GameStop stock, the GME meme coin has experienced an astronomical rise of over 30X in value.
GME Tokenomics: Circulation, Trading, and Market Cap
Currently, 6.9 billion GME tokens are in circulation. Nevertheless, with no extra mint functions, the total supply of this asset remains undisclosed.$147,644,110 is the 24-hour trading volume for GME at a market cap well over $134 million.
Gamestop (GME) tokens can be bought or sold on both centralized and decentralized exchanges with GME tags. However, there are multiple versions available and hence it is important to confirm the exact address of a particular token before sending any amount. You can trade GME on various live launchpads such as Coinex, and Bitget, while decentralized exchanges like Orca, and Jupiter within the Solana Blockchain also have trading pairs available for GME meme coin.
Conclusion-
Even though GME is not connected to GameStop stock, it is famous because it shares memes with Gamestop stock. Therefore, GME’s existence depends on the society. But, meme coins are usually highly volatile and thus those who decide to trade cryptos should be cautious about it because there are risks involved. This article is purely informative and never worth any financial or investment advisory support.
Disclaimer: This post is intended solely for informational purposes and should not be taken as legal, tax, investment, financial, or any other form of advice. Although all the information provided is true to the best of our knowledge, it is advisable to research well before making any kind of investments or decisions in general. The team of ReadingCrypto bears no responsibility in the event of any adverse outcomes.
