News

GameStop (GME) Price Slips 20%, Is Meme Coin Frenzy Over?

GameStop (GME) meme stock noted an attention-nabbing plunge in its price, emerging amid the firm's plans to sell 45 million shares. Will meme coins reflect this bearish trend?
Published by
GameStop (GME) Price Slips 20%, Is Meme Coin Frenzy Over?

Highlights

  • GameStop (GME) meme stock's price plummets 20%.
  • The price fall comes in tandem with a filing to sell 45 million shares.
  • Will meme coins reflect the bearish sentiment?

In the follow-up of a phenomenal price rally witnessed by GameStop (GME) meme stock, the price has once again returned to a slump, causing a bustle across Wall Street. Similarly, the meme coin season showed signs of a fading momentum recently, piquing global attention.

This phenomenon has garnered significant attention across the globe, as meme-based investments recently emerged as the talk of the trading town. Nonetheless, meme stocks and meme coins have once again stirred speculations over their potential to offer investors gains.

Advertisement

GameStop (GME) Meme Stock Crashes, What’s The Scoop?

In an unprecedented move, GameStop recently said that it expects Q1 revenue to be $882 million, down from $1.23 billion in the same quarter last year. This has added a bearish tint to the meme stock’s trading journey.

Moreover, coming in tandem with the firm’s reduced revenue, GameStop also filed to sell up 45 million of its shares, entering into an open market sale pact with Jefferies LLC. The pact relates to the selloff of Class A common stock GME, per SEC’s Edgar filings dated May 17. This has further added to negative investor sentiments orbiting the meme stock.

GameStop (NYSE: GEM) was down 20.24% today and was standing at $22.07 at press time.

Meanwhile, as the abovementioned meme-themed investment product lost traction, the crypto realm’s meme-themed currencies also illustrated turbulent price actions. Let’s take a closer look at these meme tokens.

Also Read: Microsoft Build 2024: Date, Key Highlights, and What To Expect

Advertisement

Meme Coin Season Ending?

Following a remarkable buzz curated by meme coins amid the start of this year’s bull cycle, tokens such as DOGE, SHIB, and PEPE have now started a period of sideways trading, keeping crypto market traders and investors on their toes. The sudden rise and fall of meme stocks, as in the one mentioned above, has further sparked concerns over the highly volatile nature of these entertainment-themed investment products, whether in the crypto realm or regular markets.

Nonetheless, meme-based cryptos continue to glimmer hope, as a much-anticipated post-BTC halving rally has yet to kick in.

Meanwhile, PEPE traded at $0.00001019, up 3.63% in the past 24 hours. Dogecoin traded at $0.1528, jumping 1.30% over the past day. Lastly, SHIB rested at $0.00002486, springing 1.51% during the same.

Also Read: Notcoin News: Notcoin Donates 1 Bln NOT To Telegram CEO Pavel Durov, Here’s Why

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Senators Reaffirm Commitment to Market Structure Bill After Meeting with Coinbase, Ripple

Senate Democrats and Republican lawmakers have ended separate roundtable meetings focused on the Crypto Market…

October 23, 2025
  • News

How the Crypto Market Could React to the Next Fed Meeting on October 29?

The crypto market has, for a while now, been pricing a potential 25 basis points…

October 23, 2025
  • News

$1.68 Trillion T. Rowe Price Files for First Active Crypto ETF Holding BTC, ETH, SOL, and XRP

Rowe Price has filed for its first actively managed crypto exchange-traded fund (ETF). It is…

October 22, 2025
  • News

Standard Chartered Predicts Bitcoin Could Drop Below $100K Amid U.S.–China Trade Tensions

Standard Chartered analyst Geoff Kendrick has predicted that the Bitcoin price could suffer a significant…

October 22, 2025
  • News

Rising Demand for Verifiable Crypto Ownership Drives Launch of Trezor Safe 7

Crypto ownership is a topic that has been discussed across major forums globally in the…

October 22, 2025
  • News

Robinhood Lists Binance Coin as BNB Outperforms BTC, ETH, SOL YTD By Over 30%

Crypto exchange Robinhood has listed the Binance coin for spot trading for its U.S. customers.…

October 22, 2025