As a researcher with experience in analyzing cryptocurrencies, I have closely followed the meme coin sector and its popular coins like Gamestop (GME) and FLOKI. This year, these two meme coins gained significant attention from investors due to their high returns. However, with both experiencing recent downtrends, it’s essential to analyze their price performance to determine which one could potentially offer higher gains in the future.
For over a decade, meme cryptocurrencies have been a beloved segment of the crypto market. Notably, they’ve gained popularity among investors due to their potential for quick profits and low entry points. The combined market capitalization of these coins amounts to an impressive $47.6 Billion. In 2021 alone, there was a significant surge in investor interest towards meme coins, with standout performers like Gamestop and FLOKI leading the charge. However, the question arises: which of these two meme coins, Gamestop or FLOKI, is poised for greater future gains?
Let’s examine the price trends of Gamestop and FLOKI in this blog post to help you decide which meme coin to invest in for potential profitable gains.
Gamestop Price Analysis
The price of Gamestop (GME) has been on a downward trend since reaching an all-time high (ATH) of $0.03207 twelve days ago. Currently, the GME price stands at $0.008465, representing a significant decrease of 74% from its peak. This shift comes amidst prevailing bearish market conditions. The company’s market capitalization is now $58,427,817, placing it as the 559th largest cryptocurrency on Coinmarketcap. The trading volume for GME is reportedly $40,106,695.
In just five months, GME has managed to build an active community with every last share in circulation among its 55,878 devoted holders. Notably, this stock gains prominence through the backing of influential figure Keith Gill, also known as Roaring Kitty, who has played a pivotal role in driving up its value to new highs, similar to Dogecoin‘s rise fueled by Elon Musk’s endorsement.
Overall, GME has 53.6% gains since launch, which has dropped quite heavily due to its downtrend.
FLOKI Price Analysis
FLOKI is among the well-known meme coins centered around dogs, joining the ranks of Dogecoin and Shiba Inu in the crypto world. With over three years of presence, FLOKI has yielded a remarkable return of 4929% in total. Similar to Gamestop, FLOKI achieved a new record high price of $0.0003462 fifteen days ago. Currently, it has shifted 47% from that peak and is priced at $0.0001818, representing a 6% increase over the past day. Additionally, FLOKI holds the 52nd spot in market capitalization with a value of $1,738,101,092 and a trading volume of $246,865,868.
As an analyst, I’ve observed that Floki Inu experienced significant price peaks in three instances: once in 2021 and twice this year, in March and June. The timeframe between 2021 and the March rally was rather bearish for FLOKI, negatively affecting its holders. Despite a substantial increase in the number of holders over the past year, there’s been a recent decrease, suggesting waning interest in this meme coin. Approximately 77,709 addresses currently possess the FOKI token, utilizing nearly the entire supply of 9.6 Trillion.
Between Gamestop And FLOKI, Which One To Buy?
As a researcher examining the recent market trends, I’ve observed that both Gamestop (GME) and Floki Inu (FLOKI) experienced peak performance not long ago but have since seen downtrends. Notably, FLOKI has initiated its recovery process. Additionally, Floki Inu has been an established player in the crypto industry for a longer period, generating hype and demand that could potentially yield long-term gains. Conversely, Gamestop is relatively new to the scene and has gained popularity for quick profits, although this comes with the risk of steep declines following such gains.
Currently, it’s acceptable for crypto investors to include either of these two options in their portfolios. However, one may provide better returns over the long term, while the other might be more suitable for short-term gains. An investor should choose based on their trading style and objectives. Moreover, it’s crucial to remember that trends can shift rapidly in the crypto market, particularly with meme coins. Therefore, conducting thorough technical analysis is essential before making any investment decisions.
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2024-06-20 14:48