The meme coin market is constant to search out huge rivals based mostly on the Solana blockchain, as its GameStop (GME) token has surged as a lot as 300%. Certainly, the community’s rise all through 2024 has solely grown stronger via the optimistic performances of its meme coin choices all through the primary 5 months of the yr.
The GME token has benefited from the continued GameStop inventory saga, with the online game retail retailer almost doubling in pre-market buying and selling. The efficiency was linked to the return of Roaring Kitty to Reddit, with Keith Gill inciting resurgent assist for the motion he first began in 2021.
Solana Community Continues to Rise as GME Surges 300%
All through this yr, the Solana community has been one of many digital asset sector’s most attention-grabbing tales. Particularly, the blockchain has emerged as a robust competitor to Ethereum. Its meme coin choices had been the main target of the market’s obsession with the property in March of this yr.
That has not ceased, as Solana continues its rise via the GameStop (GME) meme coin that surged as a lot as 300% on Monday. Certainly, the token has additionally loved a 1,400% surge in its buying and selling quantity over the past 24 hours alone, in line with CoinMarketCap.
The shopping for frenzy is carefully linked to Roaring Kitty and the inventory growth for GameStop. Keith Gill first incited the corporate’s brief squeeze in 2021. At present, the GME token is buying and selling at $0.008995 and is quick approaching its $0.015 all-time excessive.
LookonChain famous the continued quantity surge since Roaring Kitty returned to Reddit for the primary time in years. Furthermore, they reference a “good dealer” who bought 3.5 million GME for 260 SOL, or $43,000. Moreover, they notice that he nonetheless holds greater than 100 million GME with a $1.3 million revenue.
Conversely, the efficiency of the Gamestop-based meme coin is actually optimistic information for Solana. At factors this yr, the community has overwhelmed Ethereum in DEX quantity. Furthermore, GME joins property like Dogwifhat (WIF) and Guide of Meme (BOME) as main rivals throughout the meme coin sector.
