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The market recently went through a big drop, causing possible effects on altcoins, which are different from the strength shown by meme coins on the Solana blockchain.
This article explores the comeback of two meme coins, GameStop and AMC, gaining popularity in the Solana ecosystem.
The 2021 retail trading frenzy popularized meme stocks like GameStop and AMC, and they are now undergoing a revival, marked by increasing trading volumes and positive technical patterns.
GME/SOL
In January 2021, the GameStop short squeeze caused a major impact globally, reshaping how regular people invest. Now, three years later, $GMEStop on Solana pays homage to the GameStop saga. It represents a strong digital movement fueled by collective belief and the strength of the little guy.
This isn’t just a type of digital money; it’s a movement showcasing the digital community’s power and the strength of those considered underdogs. This movement stands out, free from pauses, restrictions, or market manipulation. The $GMEStop Solana meme coin is entirely decentralized and owned by the community.
Born on the Solana blockchain, known for its speedy transactions and innovative approach, the $GMEStop meme coin captures the essence of the historic rebellion against financial giants. It channels the raw energy and incredible support that characterized the GameStop mania.
Currently priced at about $0.005, the Solana-based meme coin GME has experienced a significant drop from its recent high of $0.011 just one day ago, indicating a decline of over 50%. The trading volume has also markedly decreased along with the price drop.
The current market cap for the GME coin is around $41 million, considerably less than its peak of $56 million. While still higher than its initial launch price, it falls far below the market cap of the actual GameStop company, which sits at $4.39 billion.
The initial excitement surrounding the coin has dwindled, evident in the significant correction in its price. Analysts have different views on its future, with some expecting further retracement, while others maintain hope for potential growth.
AMC/SOL
The second meme coin we’re looking at is AMC, which recently had a market cap of $813 million. While GameStop might be more well-known, AMC is gaining significant attention, as seen in its market cap and positive price movements.
On a daily basis, there’s a bullish consolidation pattern, signaling a positive sentiment for AMC. However, today, the current value of the Solana-based meme coin AMC is about $0.002, down from its recent high of approximately $0.003 earlier this week, marking a decrease of around 60%.
The trading volume has also dropped compared to its peak levels. The current market cap for the AMC coin is about $2 million, much lower than its peak of $813 million. Their X account post indicates that AMC has secured another listing.
? ???? – Moontok Xpress
AMC ($AMC)https://t.co/eu3fGiivFd
9jaZhJM6nMHTo4hY9DGabQ1HNuUWhJtm7js1fmKMVpkN
LIQ: $233,917 | MC: $5,511,831#altcoin #memecoins @amconsolbtfd @moontokofficial pic.twitter.com/rI0dv60kF3
— Moontok Listing Alert (@MoontokListing) February 1, 2024
Despite staying above its initial launch price, this decline is substantial and falls far behind the market cap of the actual AMC Entertainment, which is over $8 billion. Like the GME coin, the initial excitement around AMC has lessened, resulting in a significant correction in its price.
Analysts have different opinions, with some expecting more decline, while others cautiously hold hope for potential future improvements. It’s essential to understand that, similar to GME, AMC is a highly unpredictable and speculative investment, with no guarantees of future success.
Conclusion
The video also talks about a fairly new cryptocurrency called IKEA. This crypto is currently gaining value and holds the top rank with a 24-hour trading volume of $1.55 million and a market cap of $5.45k.
It’s important to be cautious when dealing with such crypto altcoins, often called “shitcoins,” as they can either lose all their value or bring in significant profits.
Drawing a comparison to the success of LAMBO on the Ethereum blockchain, which achieved an impressive 100x return, the video stresses the need for careful trading practices. It’s recommended not to invest more than 2-3% of your portfolio, and doing thorough research is crucial.
The video highlights the importance of checking the team behind the crypto, looking for endorsements from influential figures, and ensuring the legitimacy of the contract through verification and renouncement.
The cautionary message emphasizes that influencers usually avoid promoting scams, and those entering late into volatile investments should take responsibility for their decisions. Finding opportunities at low valuations, like $1.59 million or $135,000, might offer good entry points.
The video ends with the presenter giving insights into two crypto altcoins and advising viewers to approach such investments with care and diligence. If you’re keen on discovering memecoins with the highest potential, our guide here provides valuable insights to help you.
New alternative coin to Solana-based meme coins
Meme Kombat is not just your typical utility token; it’s a blend of GambleFi utility and meme coin, creating a lively and utility-focused environment. Unlike traditional crypto gambling setups, it brings together meme coins and gamified graphics for a more culturally relevant experience.
The project allows users to bet on AI-generated battles between characters inspired by meme coins, using the $MK token. This ensures a steady and predictable demand for the token. Meme Kombat offers various game modes, including single-player, multiplayer, and side-betting, catering to a wide audience and enhancing its overall appeal.
Users also have the option to stake their $MK tokens with a 118% APY, and currently, 80% of $MK tokens are staked, indicating strong confidence in the project’s future. Meme Kombat stands out by having a transparent team and a smart contract audit, emphasizing its commitment to security.
These qualities set Meme Kombat apart from other meme coins, showcasing the team’s dedication to openness and safety. To broaden its influence, the Meme Kombat team recently introduced a competition where participants can win $300 each by showcasing their “dank meme skills.”
The presale has already raised over $7.9 million, nearing its $10 million hard cap, so those interested in purchasing should act promptly. You can participate in the $MK presale by visiting memekombat.io.
Related
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- New and Best Meme Coins To Buy February 1 – Meme Kombat, Hoge, Dino, Popcat
- Alessandro De Crypto Video Update on Meme Kombat Presale – Could This Meme Coin Be the Next to Pump?
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