Top Meme Coins to Watch This Week: Is GameStop Frenzy 2.0 in the Making?
Story Highlights
Popular trader Keith Gill’s return to Reddit boosted GameStop stock and meme coins.
Meme coin market surged, with some coins like GME (Solana) jumping over 200%.
Analyst predicts continued activity in meme coins, highlighting Floki Inu’s potential.
Keith Gill, the famous GameStop stock trader known as
Roaring Kitty
, made a notable return to Reddit Inc. (NYSE: RDDT) last Sunday. His comeback caused GME shares to nearly double during Monday’s premarket session. Gill revealed he holds a stock portfolio worth over $110 million, putting him among the top “whale” investors.
This spike in GameStop shares also triggered a rise in meme coins related to the entertainment company.
Meme Coins Ride the GameStop Wave
In the last 24 hours, many meme coin projects on different blockchains have seen significant gains for early investors. The meme coin market grew by 2%, reaching about $66.8 billion, with a daily trading volume of around $5.9 billion.
The biggest winners from the GameStop surge were meme coins inspired by Wall Street products like GME and AMC. For example, GME (Ethereum) rose more than tenfold, while Solana-based GME (GME) increased by over 200% in just 24 hours.
Crypto Analysts Predict a Busy Week Ahead
A well-known crypto analyst named Scofield on the X platform predicts a busy week for the meme coin industry, driven by Gill’s increased social media activity. Scofield has recommended top meme coins with strong fundamentals, such as Dogecoin (DOGE), Dogwifhat (WIF), Pepe (PEPE), Floki Inu (FLOKI), Shiba Inu (SHIB), and Bonk (BONK).
BIG week for
#memecoins
IMO!
Roaring Kitty, the memestock and GameStop legend, just revealed a $200 million GameStop position and a bullish vibe!
This is massively bullish for memecoins like
$FLOKI
,
$DOGE
,
$WIF
,
$PEPE
,
$SHIB
, and
$BONK
.
I expect
#FLOKI
to benefit the most from…
— Scofield (@Crypto_Scofield)
June 3, 2024
Among these, Floki Inu stands out, having gained over 16% in the past 24 hours to trade around $0.00028 on Monday. With an impressive track record, including about half a billion in total value locked (TVL) and a significant supply shock, Floki Inu is set to be a major beneficiary of the ongoing meme coin surge.
Also Check Out :
GameStop (GME) Price Seeks Another 150% Jump After a Monstrous 200% Rally in the Next Few Days!
Will the meme coin frenzy continue? Only time will tell. Stay tuned for further updates!
Tags
Meme Coins