Solana’s GameStop Meme Coin Plummets 70%—But GME Isn’t Dead Yet

By Sunil Gavhane

Published on:

Solana's GameStop Meme Coin

Solana’s GameStop Meme Coin : Last week, the value of Solana’s GameStop meme coin shot up but then dropped by over 70% from its peak. However, this isn’t unusual for meme coins, which often have big price changes. Recently, it started to increase in value again unexpectedly.

The Solana token’s price is currently just below $0.004, as reported by CoinGecko. Although it has significantly fallen from its highest price of $0.135 on February 7, it has still increased by more than two times in the last 18 hours after its price went below $0.002.

The GME token, started in late January, lasted longer than many other quick, popular meme coins that usually appear with big news, spike in value, and then drop to nothing in a few hours or days.

GME does not seem to be officially connected to GameStop, the video game store that became famous online when its failing stock was targeted and boosted by Reddit users in 2021.

GameStop created a digital wallet and an NFT platform, but both were closed down. The company didn’t respond to a request for comment about the meme coin.

In the past day, people have traded about $3.8 million worth of GME meme coin, even though its price has dropped. Right now, the coin’s total value is $26.3 million, based on GeckoTerminal’s information.

Even though its value isn’t as high as older meme coins like Dogecoin ($12.19 billion) and Shiba Inu ($5.83 billion), it’s still a lot compared to many new meme coins. These new coins often quickly make a lot of money but then lose most of their value in just a day.

Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.

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