It’s a simple premise behind the recent meme frenzy.
Bitcoin is taking a break, and aggressive traders are looking for a new entry into the market. For investors like these, it makes no difference if prices fall or rise. There is ALWAYS money to be made, and analysts see the meme market as now driven by this agenda.
Profit.
Money.
Long-term savings … The very first time the meme market exploded was in 2013. As of May 2024, Roaring Kitty now rallies and is hitting numbers as high as 700% in fast gains.
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“Involved Are Those Behind the GameStop Squeeze”
We’ll make this a brief history lesson for you crypto enthusiasts.
In 2021, GameStop stalled the entire stock market when, for the first time we’ve ever recorded, a collection of common, typical traders grouped together to game the actual stock market. It started on Reddit and leaked into the bottom line of major US hedge funds. Yikes!
Most see Keith Gill as largely responsible for that and for what’s NOW happening with meme coins. You see, the GameStop stock just saw prices, in less than a month, fly past 110%! Gill is now being seen on social media after being M.I.A. for roughly three years now.
The intrigue in this has to do with some new app features that were released right as these market events unfolded. The GameStop’s network has backend and social ties to the Robinhood app, the commission-free trading platform, that now allows meme coins to be bought at a click.
It was after GameStop’s stock made surprising gains that the meme industry followed. The meme coin, GME, scaled over 3,000% in under 24 hours, and it doesn’t seem to be an accident.
Here Are the Coins Behind the Meme Frenzy
The meme frenzy started as a social discussion. Alongside the rise in social comments and posts about memes were later rallies as if the two instances were connected.
You be the judge, but here are a few coins that made themselves known:
- FLOKI—Holding to roughly 3.8% in increases, this token is named after a memorable viking from the Vahalla series, toting itself as “the people’s currency.”
- PEPE—With 17% gains in the market, this frog meme is considered a controversial image that has been associated with various themes on the web since 2005.
- BONK—Seeing 4.1% pushes, BONK is a go to token for DeFi and gaming developers.
As expected, the crypto market gets more exciting every week, and we need our readers to position themselves to make the most of it. Successful traders start with a reliable crypto platform where tokens remain safe and accounted for. You can start with an overview of the XTB exchange today.
