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GME on Solana

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GME on Solana
GME on Solana
Image: token logo via CoinGecko / DexScreener listings
tickerGME
blockchainSolana
launchedJanuary 2024
peak market capabout 220 million dollars (June 2024)

GME is an unaffiliated GameStop tribute meme coin on Solana, fair launched in January 2024, which exploded from under 4 million to over 200 million dollars in implied value when Roaring Kitty returned to the internet in May and June 2024.

Contents
  1. 1 Origin
  2. 2 Market history
  3. 3 Cultural impact
  4. 4 References

GME is a meme coin on Solana paying tribute to the GameStop meme stock saga of 2021. It has no connection to GameStop Corp. or to trader Keith Gill, but became one of the defining trades of mid 2024 by acting as a 24 hour crypto proxy for meme stock mania.

Origin

The token fair launched on Solana on January 28, 2024, with its GME/SOL pair created the same day, months before the events that made it famous. It was one of many Wall Street Bets flavored tokens created by anonymous developers during the early 2024 meme wave, and for its first three months it traded quietly at a market value in the low millions.

Market history

On May 12, 2024, Keith Gill, the trader known as Roaring Kitty whose posts helped ignite the 2021 GameStop short squeeze, posted on X for the first time in nearly three years. GameStop stock jumped over 40 percent in premarket trading, and the Solana token bearing its ticker went vertical: CoinDesk and Crypto Briefing reported the coin surging as much as 300 percent within hours, and Unchained recorded a fourteen fold move that took the market capitalization from under 4 million dollars to over 100 million, later exceeding 120 million as the token rose more than 3,000 percent from pre return levels. A second leg came in early June 2024 when Gill revealed a GameStop position worth about 586 million dollars and announced a YouTube livestream; Decrypt and CoinDesk covered the token spiking again, over 80 percent in a day. CoinGecko records the all time high at about 0.0319 dollars on June 7, 2024, the day of the livestream, an implied market value near 220 million dollars against the roughly 6.9 billion supply. The token faded with the meme stock news cycle, and by August 2026 traded near all time lows with a market capitalization around 2.5 million dollars.

Cultural impact

GME on Solana became the canonical example of crypto as an attention derivative: a token with no affiliation, product or team pricing a television moment in real time, tradable at 3 a.m. when the stock market was closed. In the trenches the May 2024 Roaring Kitty wave sits alongside the election coins like Jeo Boden as proof that Solana had become the venue where any mainstream news story is instantly securitized, a pattern that repeated through the celebrity coins of that summer.

References

Category: Coins