GameStop

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Discover GameStop's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is GameStop?

The crypto GameStop (GME) is a tribute token based on the Solana platform, inspired by the GameStop short squeeze phenomenon. It has seen significant price surges, particularly when the GameStop stock price increases, as it is closely tied to the sentiment around the Wall Street GameStop phenomenon. The token is part of the broader crypto meme coin market, which often reacts to events and trends in the traditional stock market.

How is GameStop used?

The crypto GameStop (GME) is primarily used for trading, with no additional utility at the time of writing. It is a Solana meme coin created as a tribute to the popular GameStop meme stock event in 2021. The GME token is mainly traded on centralized and decentralized exchanges, including Coinex, Bitget, BingX, Orca, and Jupiter, with a significant trading volume and market capitalization.

How do I store GameStop?

To store GameStop (GME) tokens, you need to follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports the GME token. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. You can download the wallet extension on Google Chrome or the wallet app from the iOS App Store or Google Play.

  2. Set up Your Wallet: Create an account, provide personal information, and set a strong password. You will be given a Secret Recovery Phrase or Seed Words, which you should note down carefully in case you lose your wallet.

  3. Buy Base Currency: Purchase a base currency like Bitcoin, Ethereum, or Tether, which you will use to trade GME tokens. You can do this on a cryptocurrency exchange platform.

  1. Transfer Funds to Your Wallet: Withdraw your base currency to your crypto wallet by providing your wallet address and the amount you want to transfer.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet and the GME token. For example, you can use Pancake Swap if you have a Binance wallet.

  3. Buy GME Tokens: Connect your wallet to the DEX and trade your base currency for GME tokens. Ensure you have the correct smart contract address to avoid scams.

By following these steps, you can securely store your GameStop (GME) tokens in your chosen crypto wallet.

How to buy GameStop?

To buy GameStop (GME) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that works well in your area, accepts your payment method, and follows your preferred policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Download the wallet extension or app from the relevant stores.

  2. Set up Your Wallet: Create an account, provide personal information, and select a strong password. You will be given a Secret Recovery Phrase or Seed Words, which you should note down carefully.

  3. Buy Base Currency: Choose a cryptocurrency exchange platform and buy a base currency such as Bitcoin, Ethereum, or Tether. This will be used to trade GME and other coins.

  1. Transfer Funds to Wallet: Withdraw the base currency to your crypto wallet by logging into your exchange account, providing your wallet address, and specifying the amount to transfer.

  2. Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet. Ensure the exchange has good liquidity and reasonable trading fees.

  3. Buy GameStop Tokenized Stock FTX (GME): Connect your wallet to the DEX, select GME from the list, and enter the amount you want to trade. Be cautious of market trends and diversify your portfolio to minimize risks.

  1. Store Your Tokens Safely: For long-term storage, consider using a cold wallet, such as a paper wallet or hardware wallet, to ensure the security of your assets.

Remember to research and evaluate the pros and cons of investing in GameStop tokenized stock FTX, considering factors such as historical price and Return On Investment (ROI).

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History of GameStop

The GameStop (GME) meme coin is a tribute to the GameStop meme stock saga that took place in 2021. It was created on the Solana blockchain and launched on January 28, 2024, as a fair launch on the Raydium DEX, coinciding with the release of the Netflix movie "Dumb Money" about the GameStop story. The coin is often referred to as a "movement" and "a display of the digital community and the power of the underdog," echoing the spirit of the original GameStop saga.

The GME meme coin gained significant traction, reaching over 15,000 holders within the first week of its launch and crossing the 20,000 holders mark by March 2, 2024. The coin's popularity is largely driven by its community, with many crypto influencers and social media users supporting the coin. The community's marketing efforts included "raids" with pictures decorated with the red headband popularly worn by Keith Gill, also known as Roaring Kitty, during his YouTube streams.

The GME token has a total supply of about 6.9 billion tokens in circulation, with no known extra mint functions. The token is primarily used for trading and has no additional utility at the time of writing. It is listed on both centralized and decentralized exchanges, including Coinex, Bitget, and BingX, as well as Solana-based DEXs like Orca and Jupiter.

The GME meme coin has seen significant price surges, particularly after Keith Gill's return to social media and the investment space. On June 7, 2024, the token reached a new all-time high, with its market cap increasing to around $149 million following a 70% price surge. The coin's popularity is closely tied to the original GameStop story and the community's enthusiasm for the meme coin, which has led to its significant growth and volatility.

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How GameStop works

GameStop (GME) is a decentralized and democratic cryptocurrency built on the Solana blockchain. It was created as a tribute to the GameStop short squeeze in 2021, which saw a group of retail investors on Reddit's r/WallStreetBets forum challenge institutional investors by buying GameStop shares en masse, driving up the stock price and causing a "short squeeze." This event demonstrated the power of collective action and highlighted the vulnerabilities of established financial institutions.

GME captures the essence of this community-driven movement, ensuring fast and secure transactions through the Solana blockchain. Unlike traditional financial systems where power is concentrated in the hands of a few, GME distributes power among its holders, aligning with the principles of democratizing finance. The driving force behind GME is its community, which thrives on collective will and aspirations, shaping the future of the coin and its underlying principles.

Key Features
  • Decentralized and Democratic: GME operates on the Solana blockchain, ensuring fast and secure transactions, and distributes power among its holders, making it a decentralized and democratic cryptocurrency.
  • Community-Driven: The coin's community is the driving force behind its success, with thousands of followers on social media and Telegram channels. The community's collective actions and decisions shape the future of the coin.
  • Meme Coin: GME is a meme coin, created without any intent of blue-chip utilities. It has a low-entry barrier, and users can buy into the coin simply because it has a fun community.
  • Trading: GME tokens are mainly used for trading, with no additional utility at the time of writing. It trades on both centralized and decentralized exchanges, including Coinex, Bitget, and BingX, as well as decentralized exchanges on the Solana network like Orca and Jupiter.
  • Tokenomics: There are approximately 6.9 billion GME tokens in circulation, with a total supply unknown. The token has a 24-hour trading volume of $147,644,110 and a market cap of over $134 million.
Risks and Volatility

GME, like other meme coins, is prone to high volatility. Potential investors should be aware of the risks associated with trading cryptocurrencies. It is essential to do thorough research and consult qualified professionals before making financial decisions.

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GameStop's strengths

The token GameStop (GME) has several strengths that contribute to its popularity and market performance. One of its key strengths is its unique connection to the well-known gaming retailer GameStop, which draws inspiration from real-world events and news related to the company. This connection has led to significant surges in value when influential figures, such as Keith Gill, revive memes that previously drove up the stock price of GameStop.

Another strength of GME is its ability to generate significant trading volume and market capitalization. Despite being a meme token, it has managed to reach the 570th position in terms of market capitalization, with a market cap of approximately $53,407,312 and a trading volume of $80,742,540 over a 24-hour period. This indicates a high level of investor interest and activity.

Additionally, GME's price predictions suggest that it has the potential for long-term growth. Analysts forecast that the token's maximum value could climb to $0.109 by 2030 and reach an apex price of $0.4162 by 2040, with a predicted mean trading price consistently near $0.3613 throughout the year. These predictions indicate that GME has a strong potential for future growth and stability.

Overall, the GameStop (GME) token's strengths lie in its unique connection to the gaming retailer, its ability to generate significant trading volume and market capitalization, and its long-term growth potential.

GameStop's risks

GameStop (GME) has disclosed 39 risk factors in its most recent earnings report, with the majority falling under the "Finance & Corporate" category. These risks include financial and accounting risks related to the execution of corporate activity and strategy, such as accounting loss, value of intangible assets, financial statements, and financial reporting.

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Did GameStop raise funds?

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GameStop’s team

  • Developers: The developers of the GME Memecoin are not explicitly named but are mentioned as having taken advantage of the opportunity to develop meme-based digital currencies, capturing the essence of the GameStop rebellion and embodying the energy and support that defined the historic event.

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