Investor euphoria over certain meme stocks, including Gamestop, is currently benefiting the meme coin market.

Wall Street is once again passionate about “meme stocks” and at the same time the crypto market is once again rushing towards “meme coins”. It is indeed the cryptocurrency fair with aminal heads and other oddities, from dogecoin to shiba inu and pepe the frog.

On the Solana blockchain, there is above all a thematic cryptocurrency, Gamestop (GME), which panics investors. Given that the Gamestop stock listed on Wall Street gained 60% at the close due to the speculative agitation of recent days, the GME crypto climbed immediately, around 65%.

125 million dollars

The capitalization of the GME memecoin today exceeds 125 million dollars, a jump of more than 3,000% in one week. On the other same coins, the trend is the same, the latter gaining several hundred million flows, once again, on eminently speculative projects.

If a few motivated traders manage to cause the stock prices of Gamestop and other AMC to skyrocket, there is the same frenzy on the crypto side multiplied by 10 on a completely decentralized and unregulated market. Crypto enthusiasts must therefore remain cautious: the last surge in the crypto pepe the frog in April resulted in a 70% drop just after, despite 3-digit increases since the start of the year.

This speculative crypto market remains reserved for specialists who are not afraid of losing their shirt.

Antoine Larigaudrie Pauline Armandet

Source: https://www.bfmtv.com/crypto/les-traders-se-ruent-vers-les-memes-coins-dans-le-sillage-des-memes-stocks-a-wall-street_AV-202405150614.html



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