Solana's New GME Token Soars Amid GameStop's Crypto Exit

Solana’s New GME Token Soars Amid GameStop’s Crypto Exit

Launched just this Saturday on Solana, the GME token has quickly become a hot commodity, with its value soaring to $0.0039 and trading volume hitting $22 million in just 24 hours.

Written By:
Kelvin Munene

Last updated: January 30, 2024 8:07 PM

Published January 30, 2024 8:07 PM

Last updated: January 30, 2024 8:07 PM

Published January 30, 2024 8:07 PM

As GameStop retreats from the crypto scene, an unrelated GME meme coin on Solana captures the market’s attention with a staggering 330% surge. While bearing the GameStop ticker, this new token has no official ties to the gaming giant, yet it’s making waves in the crypto community.

📢#GameStop might be getting out of the crypto world, but a new unofficial $GME meme token on @Solana @gmecoinsol is white-hot right now.

👀 It’s seen surging demand since being minted on Saturday. GME is up over 330% in the last 24 hours to a current price above $0.0039 with… pic.twitter.com/viX8hGzr9w
— Sad Creator (@SadCreatorTalks) January 30, 2024

A Meme Coin Phenomenon

Minted just this Saturday on Solana, the GME token has quickly become a hot commodity, with its value soaring to $0.0047 and trading volume hitting $22.4 million in just 24 hours.

Despite GameStop’s decision to close its NFT marketplace, this meme coin’s market cap has impressively reached nearly $29 million.GameStop announced the closure of its NFT marketplace, citing the “regulatory uncertainty” in the crypto domain.

This move marks the end of the company’s foray into digital collectibles and gaming assets, underscoring the volatile nature of the crypto industry. Meanwhile, the unrelated GME token’s success on Solana highlights the enduring allure of meme coins in the crypto landscape.