HomeCrypto CoinsGameStop (GME) Stock Reaches 120% Intraday Surge

GameStop (GME) Stock Reaches 120% Intraday Surge

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GameStop Stock Reaches This week, GME cryptocurrency saw a tremendous spike of over 550%, supported by investor interest. An all-time high of $0.03207 has been reached in the last few hours for the GameStop Price (GME) meme-coin. In the past two days, the Solana-based meme coin GameStop (GME) has tremendously surgedGameStop (GME) Stock Reached 120% Intraday Surge, increasing its value by more than 500%. A livestream on YouTube is slated for June 7, 2024, by Keith Gill, also known as “Roaring Kitty,” who plans to appear after a three-year hiatus.

The announcement set off a strong surge of optimistic sentiment, pushing the GME price to its all-time high. Charts showing bullishness for GameStop (GME) as of press time show a price of $0.02463, suggesting a substantial intraday jump of 94.36%. Speculation by investors was evident in the 413.19% increase in trading volume to $302.30 million.

Could GameStop (GME) Continue to Blow Gains Ahead?

Could GameStop (GME) Continue to Blow Gains Ahead?

Even though the meme coin has experienced a significant increase of more than 500% this week, the price action indicates that it is merely a sign of recovery and may soon begin to slow down its impulse. Following this substantial increase, the meme coin may experience a big profit booking, likely fueled by the speculative move made by investors. Because of the large amount of pressure applied to the shorts, those holding short-term positions are looking to secure their gains, which might cause the price of GME to retrace forward.

In the past several weeks, the GameStop Price (GME) meme coin has dramatically recovered nearly 5000% of its gains, revealing a rounded shape of recovery from its ATL (All-Time-Low) level of $0.0004008 and significantly recovering from its previous low point. With a total supply value of 6.90 billion and a market cap of $170.19 Million, the GME cryptocurrency is ranked 308th according to the market capitalization that is now in effect.

Sharp Surge in Volatility, Sentiments Remained Flat

Sharp Surge in Volatility, Sentiments Remained Flat

The weighted mood data stayed unchanged and led to long-term holders’ concerns. Even if there was a sizeable intraday increase of almost 120%. Speculation by investors reached new heights as price volatility soared 78% to the 0.31 mark. The price of GME surged significantly this week, as pointed out by @unusual whales. An investor might make $2,810 in just a few hours at today’s top with an investment of $460.

Currently, $0.02300 and $0.02100 serve as support levels for GME memecoin, while $0.0300 and $0.03400 represent the main upside obstacles. At 82, the Relative Strength Index (RSI) curve reaches the overbought zone, and the MACD indicator shows a bullish crossover. The GameStop Price has broken through the 78.3% level and may continue to rise in the green sky zone. The Fibonacci extension tool shows that there is still potential for upside up to $0.04000.

What’s Next for GME After a Massive Surge?

In a new all-time high, the price of GameStop (GME) surged more than 500% this week. Nevertheless, the meme currency appears overbought, and the current price movement indicates that a profit booking could be imminent.

Disclaimer

It would be best if you did not consider this article a substitute for professional financial, investment, or other advice; it is merely informative. If you put your money into investing or trading and lose money, it’s not the author’s or anyone else’s fault. Never make a financial decision without first doing your homework.

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Ali Raza
Ali Raza has been writing about blockchain and cryptocurrencies for over Three years and is now the editor-in-chief of Latestcoinsnews. After a meteoric rise in late 2016, Ali Raza's enthusiasm for Bitcoin and other cryptocurrencies skyrocketed. He can't sleep with one eye on the market because he's so fascinated by the technical and economic ramifications of cryptocurrency.

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