Solana’s suspension of GameStop’s tribute to the meme could not stop Skyrocket

A Solana meme coin inspired by GameStop The video game retailer's own meme stock has followed a rollercoaster-like trajectory in recent years, peaking just before last week. Just falling fast. Now it is increasing – and even Tuesday Solana network outage He couldn't slow down the roll.

GME, the unofficial GameStop-themed meme coin, has jumped 91% in the past 24 hours, data shows. CoinGecko, more than $0.0096 at the current price. The token briefly rose above $0.011, approaching its highest price point from last week, but then settled down.

The GME token is relatively small, with a 24-hour trading volume of over $14 million and a market cap of $65 million. Compare that to a trade volume of $1.8 billion Solana (SOL) during the same period and a market cap of more than $42 million.

Memcoins are notoriously volatile, and their prices fluctuate wildly in the light of short-term trading. But GME has outlasted many of the superficial meme coins created to hang on a news event or public figure. Elon Musk Or Charlie Munger.

And early Tuesday, even Solana's five-hour network outage didn't dampen GMI's latest pump. The coin's price rose overnight and the network dipped briefly after coming back online before resuming daily pumping.

GameStop has made its own forays into the crypto world, including running an NFT marketplace from 2022 until last week. It was discontinued on February 2. The retailer had its own crypto wallet, which was discontinued last fall.

But this Solana meme coin seems to have nothing to do with the game brand, which did not respond DecryptLast week's poll.

Edited by Ryan Ozawa.