Summary
The GME token, an unofficial GameStop meme coin on the Solana blockchain, has experienced a significant drop in value, losing over 70% since last week. However, meme coins are known for their volatility, and the GME token has made a surprise comeback in the last few hours. It is currently trading at just under $0.004, more than doubling in price in the last 18 hours alone. Although the GME token has no formal affiliation with GameStop, it has seen trading volume of roughly $3.8 million in the past 24 hours and has a market capitalization of $26.3 million. This is substantial compared to other meme coins that quickly lose value.
Key Points
1. Solana’s unofficial GameStop meme coin experienced a significant drop in value, losing over 70% since last week. However, meme coins are known for their volatility, and this particular coin has made a surprise comeback in the last few hours.
2. The GME token, launched in late January, has outlasted many other viral meme coins that quickly rise and fall. It has no formal affiliation with GameStop, the company that gained attention during the Reddit-fueled stock frenzy in 2021.
3. Despite its recent decline, the GME meme coin has still seen a trading volume of approximately $3.8 million in the past 24 hours. Its market capitalization currently stands at $26.3 million, which is substantial compared to other meme coins that quickly lose value.