Bittime -GameStop (GME) was originally a common stock symbol of the company GameStop Corp
NYSE: GME. The name has become a cultural phenomenon, closely tied to meme stock trends and the power of retail investors.
Recently, the GME token built on the Solana blockchain saw a significant price spike. This has caught the attention of many people, but it is important to understand the history and complexity behind the GameStop name. Let's look at more details about Gamestop (GME)
What is Gamestop (GME)?
1. GameStop Company (GME)
GameStop is a global video game retail company that has been around since 1984. They have physical stores in various countries and sell video games, electronics and other entertainment products. GameStop also offers video game trade-in and electronic device repair services. This company experienced financial difficulties due to the popularity of digital games and the decline in sales of physical games. However, in January 2021, GameStop was again in the spotlight due to a short squeeze on GME shares triggered by retail investors on the Reddit forum r/wallstreetbets.
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2. Token Gamestop (GME) (Cryptocurrency)
Gamestop (GME) is a crypto asset with a narrative meme coin built on the Solana blockchain (not a stock traded on a stock exchange), where the GME token leverages the passion and community of retail investors inspired by the 2021 GameStop short squeeze event.
This token is still in the early stages of development, and its function (utility) is not yet completely clear. Potential uses may include:
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- Governance: Token holders can participate in decision-making on the GameStop NFT project and metaverse (virtual world).
- Rewards: Tokens can be used to earn rewards and discounts in the GameStop NFT ecosystem and metaverse.
- Access: Tokens can be used to access exclusive features and content in the GameStop NFT ecosystem and metaverse.
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GameStop (GME) Market Performance
Recently, the GME token has experienced a significant surge in its market performance. In one day, this token increased by 1699.74%, and in a week, it increased by 1451.96%. The market cap currently stands at $63.3 million, according to CoinMarketCap. Trading volume for GME in the last 24 hours has increased substantially, reaching 8923.13%. This indicates a high level of trading activity. The total supply of GME tokens is 6,885,214,218.
The token hit an all-time high of $0.01362 just three months ago, but has since retreated 46.58% from that point.
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Reasons Behind the Soaring Price of GameStop (GME)
The GME stock price soared due to Keith Gill , also known as TheRoaringKitty , who rose to fame with his analysis of GameStop on Reddit in 2019. G
amber, a simple meme highlighting periods of intense concentration, or “getting in the zone,” has been seen by many as a sign to fully engage in trading. And indeed, they dove into it.
GameStop's share price soared by 100% when the market opened, causing many people to join in "fomo" to buy this stock.
Gill's predictions sparked many retail traders to go against big investors, causing tremendous fluctuations and gains in GME shares. Gill's initial investment of $53,000 ballooned to nearly $50 million, demonstrating the power of group collaboration and online trading groups.
The GameStop saga captured global attention with its story of David versus Goliath, as small retail investors joined forces to take on the big Wall Street firms. Despite questions and meetings in Congress, Gill remains confident in GameStop's value, earning admiration among meme stock fans.
The story was prompted by Gill's return to social media, sparking renewed interest in meme stocks and cryptocurrencies.
How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER : This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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