Is It The End Of Gamestop (GME) Meme Coin As Value Drops 75% From ATH?
Gamestop became an instant favorite for crypto investors as it showed high returns trait from the start. However, that might be the end, as it is quite bearish from the past few days, drifting 75% away from the ATH of $0.03207 set just 12 days ago. As the crypto market was slow, Gamestop has witnessed the biggest decline. So, is it the end of the Gamestop meme coin’s high gains, or might it recover? Let us discuss that in this blog.
Gamestop Price Analysis
Gamestop entered the crypto market in January 2024, and within a few days, it reached its first peak of 0.01148 before staying low for the next two months. It again rose at the beginning of May, creating a high of %0.019. But the biggest rally of this meme coin was earlier this month when it surged thrice the first peak to an all-time high of $0.03207 on June 7.
This surge was all because of the entry of the influencer Keith Gill, who goes by Roaring Kitty. Gill returned to the financial market after years and revealed his portfolio carrying 9 million Gamestop shares. This revelation fueled the GME price rally and doubled the company’s share price.
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However, that did not last long with the bearish behavior of the market. Interestingly, this is not anything new for GME as it had similar ups and downs previously, keeping the investors focused on these meme coins. At the time of writing, the GME price is $0.00825 with a trading volume of $39.53 Million.
What’s Coming Next For Gemstop Between Decline or Surge?
Gamestop price has started a recovery where its price has moved almost 3% in the last 24 hours. Despite that, this meme coin is moving sideways from yesterday with minor ups and downs.
With its decline in the holders over the last few days and declining market conditions, the Gamestop price drop is more prominent than the recovery. Additionally, the recent announcement from the Gamestop CEO limiting the open stores to enhance profitability is putting downward pressure on the meme coin.
For now, the possibility of further declines is higher, which is also believed by the analysts. A few have claimed the price to drop as low as $0.002 before making a comeback next month.
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