This week, GME hit the jackpot with over 550% growth. Folks were eager to get their hands on the cryptocurrency GameStop Stock Reaches Price (GME).Which reached an amazing high of $0.03207. Just two days ago, it soared over 500%!
Everyone got pretty excited when they learned that Keith Gill, a.k.a. “Roaring Kitty,” will live on YouTube again on June 7th after almost three years. The enthusiasm raised the coin’s price to its highest so far. GME was up 94.36% on the day, worth $0.02463. More people are trading it now—the volume shot up by 413.19%, totalling $302.30 million!
Could GameStop GME Continue to Blow Gains Ahead
Though the meme coin has already had a tremendous increment of over 500% this week, the price action is just an indication of a possible comeback, and it might soon start to retard its impulse. As a result of this substantial rise, the meme coin might encounter a vast profit booking, which the investors’ speculative action will probably trigger. On account of the enormous amount of pressure that has been placed on the shorts, those who hold short-term positions are trying to make a profit might push the price of GME back to a previous level.
Over the past few weeks, the GameStop Price (GME) meme coin has soared back up about 5000% of its earlier gains, which is a sign of rounded bottom recovery from its ATL (All-Time-Low) level of $0.0004008 and has thus remarkably healed from its previous low point. At the capped supply level of 6.90 billion and a market cap of $170.19 Million, the GME cryptocurrency is in the 308th position in the market capitalization list, which is functioning.
Sharp Surge in Volatility Sentiments Remained Flat
High mood data that remained as such worried long-term holders. However, the price went up almost by 120% in the intraday market, which largely increased risk exposure due to the 78% rise in volatility to the 0.31 level. As shown by @unusual whales, the price of GME went up remarkably this week. A single trader can earn an extra 2,810 dollars within a couple of hours using the initial capital of 460 dollars.
The $0.02300 and $0.02100 are the support levels for GME memecoin. Meanwhile, $0.03000 and $0.03400 are the main upside obstacles. At the 82 levels, the RSI curve touches the overbought area, and the MACD indicator points to a bullish crossover. The GameStop Stock Reaches has also risen to 78.3% and is still quite possibly on the path of growth in the green sky. The Fibonacci expansion instrument points out that there is yet a chance for the price to move upward to $0.04000.
What’s Next for GME After a Massive Surge
The price of GameStop Stock Reaches (GME) increased by over 500% this week, reaching a new all-time high. Despite this, the meme currency is oversold, and the current price means could indicate a possible move closer to profit.
Disclaimer
This article should not be considered an alternative to professional financial, investment, or other advice; it is purely informative. If you gamble your money by trading or investing and end up losing it, nobody can be held accountable. You should not always make any decision without consulting a professional first.
FAQs
Can GME continue to grow after its massive rise?
Although GME has experienced significant growth, it may face resistance and profit booking from short-term traders, potentially slowing its momentum.
What is the current market status of GME?
GME is priced at around $0.02463, with a market cap of $170.19 million, and ranks 308th in the market capitalization list with a capped supply of 6.9 billion coins.
What are the key support and resistance levels for GME?
Support levels for GME are $0.02300 and $0.02100, while resistance levels are $0.03000 and $0.03400, with further potential to reach $0.04000.
Is GME a good investment after its price surge?
The recent surge may indicate potential profit-taking, and investors should be cautious, as the coin is currently oversold and facing increased volatility.
