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- GameStop’s recent rally on Wall Street has triggered a surge in the meme coin sector, adding $5 billion to investors’ wealth.
- Lower cap meme coins like PEPE and MEGA have registered gains of up to 35%.
- GameStop’s own meme coin, $GME, has seen a staggering 2200% rally in the last 24 hours.
Following the GameStop share rally, the meme coin sector sees a surge, adding $5 billion to investors’ wealth. Lower cap meme coins like PEPE and MEGA register significant gains.
GameStop Rally Fuels Meme Coin Surge
GameStop Corp (NYSE: GME) is back in action, leading to a frenzy on Wall Street. On Monday, May 13, the GameStop (GME) price rallied by a strong 75%, shooting all the way to $30.45, with the GME stock price pumping an additional 21% in the aftermarket hours. Interestingly, the GameStop (GME) meme coin has rallied by a staggering 2200% in the last 24 hours. This has also led to a strong rally across the meme coin sector.
Impact on the Meme Coin Sector
According to on-chain data provider Santiment, the memecoin market witnessed an attention-grabbing kickoff to the week, marked by notable breakouts and decouplings within the past 24 hours. Trading volumes among the top 50 assets in the meme coin sector surged by over 34%. Furthermore, this sector alone has added $5 billion to investors’ wealth in the last 24 hours. Coins like $PEPE, $MAGA, $MOG, $BITCOIN, $PONKE, $PEPE2.0, $SPX, and $ANALOS are now attracting considerable interest, presenting potential opportunities for significant volatility.
Conclusion
The recent GameStop rally has had a significant impact on the meme coin sector, leading to a surge in trading volumes and investor wealth. As the dynamic nature of the memecoin market continues to evolve, investors are keeping a close watch on these assets for potential opportunities.
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