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GameStop’s stock price plunged Friday following an early (and rough) Q1 earnings report release from the video game retailer. But the unofficial GME meme coin on Solana is still flying high this week, hitting an all-time high price just hours before influential trader Roaring Kitty (aka Keith Gill) holds his first livestream in three years.
GME, a GameStop tribute coin that launched back in January, is up 70% over the last 24 hours at a current price of $0.021, and now has jumped 467% on the week amid GameStop meme stock fever. The token has now spiked by over 5,000% since setting an all-time low price on April 30.
Overnight, the GME token popped to a new all-time high price of nearly $0.032. It’s now down by 33% since that peak. The $471 million in trading volume over the last 24 hours is the most ever tracked for the token, according to CoinGecko.
GameStop’s own shares are down sharply Friday, falling 25% since markets opened due in large part to the earlier-than-expected release of rough quarterly earnings. It’s currently priced at just under $35.
But the biggest story around GameStop on Friday is likely to be the return of Roaring Kitty to YouTube in a scheduled 12pm ET livestream. The influencer, who also goes by DeepFuckingValue on Reddit, was the key figure behind the 2021 GameStop stock short squeeze.
In recent weeks, he’s returned to Twitter and then eventually Reddit earlier this week, sharing that he holds hundreds of millions of dollars worth of GME shares and options. Based on his current holdings, his position would be worth $1 billion if GME’s price hits $65 on Friday.
More than 100,000 people are already queued up to watch the stream, as of this writing.
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The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
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Source: https://decrypt.co/234392/gamestop-solana-meme-coin-gme-up-467-roaring-kitty
