What is GME Coin and Why is GameStop Memecoin Popular?

Bittime - Remember the GameStop meme stock story that went crazy in 2021? Now, there's a GME meme coin born from that spirit of rebellion! This coin has become popular again after the reappearance of the key figure behind this phenomenon, Roaring Kitty (aka Keith Gill) on social media.

GME: The Memecoin That Imitates GameStop's Footsteps

GME, built on the Solana blockchain, is a tribute to the GameStop event. Born not as a heavyweight investment, GME seeks to repeat the events of January 2021, namely the community rebellion against financial giants. The hope is that the value of GME coins can exceed the market capitalization of GameStop shares (currently around IDR 1.6 trillion).

Interestingly, to buy GME, you don't need in-depth research like investing in regular shares. Just join the community which is known for being fun and having the slogan "we love the coin" - a phrase popularized by Keith Gill and his supporters.

GME's popularity was achieved thanks to the GameStop story and the support of its active community on social media and Telegram. Thousands of loyal followers have made GME successful in building a strong community base. It should be noted, however, that GME is in no way related to the actual GameStop stock.

GME's Rise Marked by Roaring Kitty's Tweet

GME's value soared more than 30-fold since May 13, 2024, following Keith Gill's return to social media. His tweet on her X social media account with the popular name Roaring Kitty has been viewed by more than 25 million people. This sparked excitement in the memecoin world and Wall Street, sending GameStop's meme stock price to its highest level since late 2021.

As a result, the price of GME also skyrocketed. GME's market capitalization rose from under IDR 64 million (11 May 2024) to more than IDR 1.6 billion (data at time of writing). The price of the token itself jumped from IDR 0.0078 to IDR 0.304. This increase was also experienced by other memes that refer to the GameStop and Keith Gill story, such as AMC and Wolverine themed coins.

GME Was Born from a Spirit of Rebellion

The GME/SOL trading pair was first launched on Raydium on January 28, 2024, coinciding with the anniversary of the GameStop event. This happened shortly after the release of the Netflix documentary "Dumb Money" which chronicles this phenomenon.

According to the official website, GME is not just a cryptocurrency, but a movement that shows the strength of the digital community and the spirit of the underdog. This memecoin seeks to channel the energy of rebellion against financial giants, as happened with the GameStop incident.

GME Community

The GME community continues to grow with the support of crypto influencers who echo the slogan "We love the coin". They actively carried out social media "attacks" with pictures of the red headband worn by Keith Gill on his YouTube channel, along with the slogan "the Headband Stays on". Photos wearing this headband can even be made on the GME website.

GME Coin Holders Increase

During its first launch, the GME meme coin already had more than 15,000 holders. This number continues to grow until it exceeds 20,000 on March 2, 2024.

However, GME's market capitalization experienced a decline until the end of April 2024. Everything changed when Keith Gill reappeared on social media, triggering a significant price increase.