Revolutionary or Overhyped? 5 Reasons the GameStop (GME) Coin Stands Out

Is the Gamestop (GME) coin as different as it claims to be?
Gamestop (GME)

Gamestop (GME) Coin: As it is from cryptocurrencies, many claim to be different from each other. But perhaps Gamestop can be, in some regards, different. On the official website, it is stated that Gamestop isn’t just a cryptocurrency but a movement. Gamestop claims to represent all the small to mid-sized cryptocurrencies. But are all these claims valid?

Gamestop was made on the Solana blockchain. The ideology was that it would be the rebel against financial titans. And be the voice that many need. GameStop made its first appearance in the crypto marketplace during the Solana-based name coin rally in January 2024. And ever since it has had its ups and downs. When it was first launched, it quickly garnered attention and its price skyrocketed to a whopping 58,000X

GameStop Tokenomics

Starting in 2020, the GameStop stock witnessed an extraordinary surge, with its annual average price increasing from $1.7854 to $42.4267 in 2021, showing an exceptional annual growth of 687.63%. This unparalleled growth was pushed by a unique combination of social media-driven trading, retail investor enthusiasm, and a significant short squeeze. 

In 2023, the stock experienced a slight decline of roughly 5% with a high of $26.95 and a low of $11.9. As of 2024, the stock opened at $16.67 and surprisingly peaked at $48.75, indicating that another meme coin mania may be near. Gamestop Coin (GME) has a 100% circulating supply with a total supply of nearly 6.9 billion coins, which further cements its status as a meme coin.

On 21st May it sat on the trading price of USD 0.006116$ with a 24-hour trading volume of $74,504,354. GameStop is down 13.41% in the last 24 hours. The current CoinMarketCap ranking is #673, with a live market cap of $42,112,170. This data is for 21st May 2024. Where it also has a fully diluted market cap of nearly 42 million dollars. 

Price Analysis

When it was first launched, it quickly garnered attention and its price skyrocketed to a whopping 58,000X to a price of $0.0145. After the return of trader Keith Patrick Gill, more popularly known as Roaring Kitty on X (formerly known as Twitter) for the promotion of GameStop triggered a price surge in both GameStop Stock and the GameStop meme coin. 

So much so that it roughly tripled in the coming days and in about 72 hours, it exploded to 45X, bringing the coin to a new all-time high of $0.0221. After this had happened, Gill took a step down from the spotlight and largely disappeared from online platforms. After three years of absence, Gill returned with a tweet that quickly garnered attention and brought back the spotlight to him. 

This sparked the interest of the cryptocurrency community and that led to a significant 110% surge in the company’s market price within just one day. The all-time high for GameStop (GME) was on May 15, 2024, when it peaked at $0.0219 and as for an all-time, it hit $0.0004008 on April 30, 2024.


GameStop Exchange Listings

The amount of places this coin has been listed is diverse and in much quantity. GameStop (GME) is primarily on the Solana network, but it can also be bought from various other exchanges.

Some of them include:

7PancakeSwap (V2)
8Uniswap (V2)
14ProBit Global

Price Prediction

The cryptocurrency GameStop (GME) already had a wild start this year reaching its all-time low and an all-time high within the last month. Certainly, the return of Roaring Kitty after three years of absence has helped to make this level of volatility possible. Some expect the coin to drop in value constantly throughout the year while others believe it will soar in value due to the return of Roaring Kitty.

Many factors show an increase can happen this year. Although it is not yet clear as to when there are rumors that it can cross the $1000 mark in the next decade which would mean a 16371900% increase from its current  Value of $0.006108. But this is if everything goes optimistically. On the more conservative side, it is said to grow to around $90 which is still a 1473380% increase

Final Thoughts

Although the GameStop (GME) Coin does indeed show great potential to grow there are still reservations as to whether investing in it would prove to be a successful endeavor or not. It is still volatile and prone to changes in its price so its instability can prove to be disappointing to many investors. So investing in it must require personal research and access to professional advice. 

And it must not be done solely based on what we hear on the internet. But if we keep an optimistic view, then GameStop (GME) can be an ideal investment for us and can have a high return on investment within this decade. And whether it is different depends more on our view than the coin itself as GameStop (GME) despite being a meme coin has re-emerged after 3 years of being pretty much underground. 

This re-emergence has not only given the coin its all-time high and all-time low price but also has made its name more known in the crypto circles and this has led to the speculations that this could be the foundation on which this coin can build its fan base and move to new heights. 

2 thoughts on “Revolutionary or Overhyped? 5 Reasons the GameStop (GME) Coin Stands Out”

Leave a Comment