The post Why Did GME Token Spike Over 20% in 24 Hours? Key Market Drivers Revealed appeared first on Coinpedia Fintech News
Yesterday, at the time of opening, the price of the GME token was $0.003777. By the time of closing, it rose to around $0.004773, indicating a 26.37% rise in a single day. Similarly, the GameStop Corporation stock price on the New York Stock Exchange also rose from $20.85 to $22.72, marking a 8.96% surge. Experts believe that the rise in the GameStop’s stock price resulted in the GME token price surge. Curious to know more. Dive in!
GME Token Gains 20.2% Rise in 24-Hours
The price of the GME token has reported a rise of 20.2% in the last 24-hours. At the start of this month, the GME price was $0.003226. Between October 1 and 12, the market majorly fluctuated within the range of $0.003669 and $0.002841. On October 13, fresh buying pressure emerged, pushing the price from $0.003555 to a monthly peak of $0.005200 in a single day. However, between October 14 and 25, the market declined around 34%. In contrast, in the last four days, the GME crypto token market has rebounded with a rise of nearly 40.65%.
Positive GameStop Stock Movement Drives Token Rally
At the beginning of this month, the stock price of GameStop Corporation was $22.95. Between October 1 and 9, it dropped by 12%. On October 16, the market reached a lower high of $21.67 but retested the monthly low on October 23. However, yesterday, the market surged by 8.91%, supported by a 24-hour trading volume of nearly 40.724M.
Analysts Predict Further Rally – GME Token and GameStop Stock
A crypto expert, Mikey Money, predicted that the stock price of GameStop Corporation may continue to rise as Halloween approaches on October 31. Some believe that the price of the stock could reach between $25 and $28 – much higher than the present price of $22.73.
Following the present trend, if the GameStop Corporation stock price continues to climb, it could boost the price of the GME token. However, some experts warn that an ATH rally for the token remains unlikely for now.
Stay tuned to Coinpedia for the latest updates on GameStop markets!
