Can MemeCoin Mania Help GameStop GME Note A New Price ATH Soon?

Juhi Mirza
GameStop to Wind Down NFT Marketplace Amid Regulatory Uncertainty
Source: The Verge

The cryptocurrency vertical is well aware of the magic of meme coins and tokens. These tokens have outperformed several leading tokens in the process while attracting heavy volume and speculation toward their price ascents. GameStop, or GME, is no exception to this change. The token surged more than 700% in the last month. With speculation running wild, here’s how the GME token is predicted to fare in the upcoming weeks and months.

Also Read: 3 Reasons Why Cardano (ADA) Is Bound For A Future Breakthrough

GME Price Forecast

stacks of coins
Image Source: Unsplash

GameStop token surge was nothing short of a miraculous meme coin journey. As any meme coin that thrives holistically on community sentiment change and shift, the GameStop or GME token surged a massive 700% upon the arrival of roaring kitty fame Keith Gill on social media.

Gill’s profile on X, under the alias roaring kitty, made a surprise comeback after years by posting an image of a gaming player with a controller. The image sparked a global purchase frenzy of the GME tokens, denoting a classic meme coin mania, which drove the token to touch a new price threshold in no time.

Per Techopedia, GME is currently encountering slight pressure as the token has toppled from its earlier price of ATH. The token may experience a breakdown soon, with its price plummeting to denote a slightly bearish stance.

“However, $GME may test a breakdown below this support level. In that case, the token could fall as far as the $0.0005 price support level before rebounding. We think it’s unlikely that $GME falls permanently back to this level since it’s now ‘in play’ as an active meme coin that could pump again at any time. This will encourage more traders to hold onto $GME and support the token’s price.”

Also Read: TON Flips ADA In A New Crypto Race: Can Toncoin Reach $10 This June?

GME 2024 Forecast

For the year 2024, the portal predicts GME to maintain a steady price pace with a few bearish days. A surge is also on the cards for the token, but it will not be as massive as compared to its previous price ascent documented post-roaring kitty image circulation.

“Another pump for $GME in 2024 also seems likely, although we forecast that it won’t have the same strength as the surge that just passed. We predict a run-up as high as $0.015, which represents a gain of 3.5x from the $0.0043 average price. Any price movement to this level is likely to be sharp and short-lived, so only traders who already own $GME at the start of the surge are likely to find profitable opportunities.”

Another price analytics portal, Digital Coin Price, predicts GME to trade in the $0.00376–$0.00920 price range.

“According to investors and market exports, GameStop is on its way to passing the $0.00920 mark by the end of this year. Before $0.00920, it may break its mark of $0.0219 and reach. According to investors, exporters, and market leaders, GameStop will break its previous all-time high of $0.0219 and hold between $0.00899 and $0.00920 soon.”