GameStop-Inspired Meme Coin GME Surges, Unfazed by Solana Outage

Sentiment: Positive

In a roller-coaster of ups and downs reminiscent of GameStop's stock, the Solana-based GME token has once again defied expectations, bouncing back with a staggering 91% surge in the past 24 hours. Trading at a current value of over $0.0096, the meme coin briefly surpassed last week's all-time high, approaching the $0.011 mark before experiencing a slight correction.

Despite its relatively modest stature in the crypto space, with a 24-hour trading volume of just over $14 million and a market cap hovering around $65 million, GME has managed to outshine many of its larger counterparts. A notable comparison emerges when juxtaposed against Solana's (SOL) $1.8 billion trading volume and $42 million market cap during the same timeframe.

Meme coins are notorious for their wild price swings, and GME is no exception. Since its inception, the token has danced unpredictably, distinguishing itself from the short-lived meme coins often tied to specific events or personalities.

Even in the face of adversity, GME demonstrated resilience during Solana's unexpected five-hour network outage on Tuesday. The token not only weathered the storm but surged overnight, briefly dipped post-network restoration, and then resumed its upward trajectory.

While GameStop itself had previously explored the crypto landscape with ventures such as an NFT marketplace (discontinued on February 2nd) and a crypto wallet (discontinued last fall), the Solana-based GME token seems to lack any official ties to the gaming giant. GameStop, silent on the matter, did not respond.

Conclusion: GME's Unpredictable Journey on Solana Continues

As the GameStop-inspired GME token persistently navigates the unpredictable waters of the Solana blockchain, it remains an intriguing anomaly, defying expectations and overcoming network outages. Whether it will sustain its upward trajectory or succumb to the inherent volatility of meme coins remains uncertain, adding an element of suspense to its ongoing narrative. Investors and enthusiasts alike are left eagerly watching as the GME token continues its remarkable journey.

About the Author

Crypto Enthusiast for over 6 years now. Working full time in DeFi since 2021.

Latest writings