GameStop-Themed Crypto Skyrockets Over 500% After Retailer Announces $1.75 Billion Investment Plan
A cryptocurrency named after GameStop Corp. (NYSE:GME) blasted to triple-digit gains Wednesday after the video game retailer announced plans to raise over a billion dollars for investment purposes.
What happened: BNB Chain (CRYPTO: BNB)-based GameStop Coin (GME) soared a whopping 532% in the last 24 hours, defying the broader market correction. The memecoin recorded a significant surge in trader interest, with volume jumping by 53%.
GME outperformed blue-chip cryptocurrencies like Bitcoin (CRYPTO: BTC) and Dogecoin (CRYPTO: DOGE), which fell 1.21% and 2.30%, respectively.
Note that the token is unrelated to GameStop and merely seeks to capitalize on the hype surrounding the meme stock.
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