Meme stock mania made a powerful comeback this week as shares of GameStop (GME) and AMC Entertainment skyrocketed. This, without any second thoughts, affected the crypto meme coin sector, in a positive way.
Let’s find out what happened with meme stocks and explore top meme coins to buy right now.
GameStop and AMC Meme Stocks Domination
GameStop price surged 74% on Monday after the account run by Keith Gill, known as “Roaring Kitty,” shared a meme on X, marking its first post in three years. The shares skyrocketed by more than 110% earlier and were halted for volatility several times on Monday morning.
By Tuesday, AMC stock price had risen more than 78% while the GME price had rallied nearly 75%. The moves higher continued, with both AMC and GameStop shares roughly doubling in price.
1000+ days of down erased in 1 week of up
It's beautiful$GME https://t.co/sW5tTMY0ja pic.twitter.com/C4VS933n0b
— CRG (@MacroCRG) May 14, 2024
According to the analytics platform Watcher Guru, short sellers of GameStop (GME) and AMC Entertainment have suffered substantial losses amounting to over $5 billion in the span of just two days.
By the end of Tuesday’s trading session, Watcher Guru reported that GameStop closed the day with 61% increase, while the AMC price saw a 32% surge.
JUST IN: GameStop $GME and $AMC Entertainment closed up 61% and 32% today.
The stocks were halted 38 times combined.
— Watcher.Guru (@WatcherGuru) May 14, 2024
The high trading activity surrounding these meme stocks was so intense that trading halts were triggered a combined 38 times throughout the day.
Meme Stocks Soar – Are Meme Coins Next?
The meme stock price explosion has undoubtedly captured the attention of the crypto community, raising speculation about whether meme coins could be the next to experience a surge.
One particular Solana meme coin, GameStop (GME) has already pumped over 2600% in the last 7 days and now has a market cap of over $100 million. Additionally, the AMC, another Solana meme coin, witnessed an impressive pump of almost 200% today.
In other important meme coin news today, the PEPE price hit a new ATH of around $0.00001.
We're living in a simulation for real;
The total Altcoin market cap is at the exact same spot as the 2021 GME pump, when Altcoins followed shortly after. pic.twitter.com/G82OYSAy2a
— CryptoAmsterdam (@damskotrades) May 14, 2024
Best Meme Coins to Invest In Now
Jacob Bury, a popular crypto YouTuber with almost 40,000 subscribers, posted a video today about the anticipation that major crypto exchanges like Binance and Coinbase might list the GME token if its market cap reaches between $500 million and $1 billion.
Bury also highlighted a new meme coin called Dogeverse, which is currently in its presale phase, with only 10 days left at the time of the video. Dogeverse is presented by Jacob as an appealing investment opportunity and of the best meme coins to buy now.
It is a multi-chain meme coin with functionalities including staking rewards, and its roadmap includes launching a centralized exchange by the end of phase five. The Dogeverse community has reached 17,000 followers on X.
Another meme token gaining traction is WienerAI ($WAI), a new meme token that combines the popular trends of meme coins and artificial intelligence (AI).
It has an amusing backstory involving a mad scientist accidentally mixing hot dog DNA into an advanced cybernetic dog AI, creating a “highly advanced AI” that is part wiener dog, part AI, and part sausage.
WienerAI is currently in its crypto presale, having raised over $1.8 million, with an official launch on exchanges soon, but you can still buy it at presale prices.
Lastly, Sealana, a new Solana meme coin that features an obese and lazy seal as its central figure, inspired by a popular South Park character. This project aims to attract risk-takers seeking high returns and has raised nearly $900K since its presale launch.
Conclusion
The recent surge in meme stocks prices, particularly GameStop (GME) and AMC, has reignited interest in the meme coin market.
With that in mind, Dogeverse, WienerAI, and Sealana might potentially be the best meme coins to invest in now as these projects have captured the attention of meme coin enthusiasts due to their successful presales and decent fundamentals.
