The earlier Coingape reports revealed that the crypto market crash impacted the overall market today. Beginning with Bitcoin’s drop to $53K, the rest of the altcoins followed a similar downtrend due to increased fear among holders. The prime reason behind this is the US Job reports, which were lower than expectations. Moreover, September is a notorious month, impacting Bitcoin’s growth most years. As the last few days followed this declining trend, most of the cryptocurrencies suffered in the market, except one, Gamestop (GME). In contrast to the market trend, the Gamestop price has soared more than 95% in the last 24 hours, making it the hidden gem of the market crash.
Roaring Kitty Influenced the Gamestop Price After Months
Keith Gill or Roaring Kitty has an influential power on the GME price despite the token having no connection with the influencer or the Gamestop Stock. However, despite that, the crypto token has always boomed every time Roaring Kitty made a presence, and the same has happened this time.
Just earlier, Keith Gill appeared on the internet after a two-month break. He made a simple X post of the Toy Story 2 scene, where Andy dropped Woody, the Cowboy toy, saying, “I don’t want to play with you anymore.” Though the post was simple, the analysts have speculated it as Keith’s indication of dropping his support for the Chewy Stocks, which he supported earlier.
However, what is important is that without any connection to Gamestop in this post, the GME stock price surged 8.2% within 11 minutes of the tweet. More importantly, the crypto token Gamestop price also boomed, jumping from $0.002728 to $0.004676 within 30 minutes. However, it did not stop there, as the surge continued, and it reached its highest peak of $0.005512 a few hours ago.
With this, the Gamestop price has presented the biggest peak of the month, currently trading at $0.005293 after a 97% surge in 24 hours. Moreover, its market cap is also up to $36,443,257 after the $426% surge in the trading volume of $49,580,435. However, despite that, this is nothing closer to its all-time high peak of $0.03207, set three months ago.
Is Gamestop The Hidden Gem Of Market Crash?
Gamestop token hit the market in February 2024 with an instant hit among investors. The GME price surged to a high of $0.01082 before entering a downtrend, which lasted for almost four months before Roaring Kitting returned to the internet. At that time, he appeared on X after years and tweeted in favor of Gamestop stock, which boosted the GME crypto token to the ATH.
What’s important is the fact that the crypto market was not the most favorable at that moment as well, as it was moving away from the bulls with each passing day. At that time, meme coins like GME and PEPE became the talk of the town due to their consistent growth.
And again today, as the downtrend hit most cryptos, the Gamestop price has a significant boost, where many might acknowledge it as the hidden gem of a market crash. More importantly, among the meme coins fight, like Gamestop Vs Floki, Gamestop is a profitable option in a declining market.
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