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The Gamestop price plunged 28% in the last 24 hours to trade at $0.01626 as of 7:40 a.m. EST on a 200% surge in trading volume to $507 million.
The GME price slump came after a YouTube livestream by Keith Gill, known on social media as Roaring Kitty or DeepF*ckingValue, that appeared to underwhelm crypto investors.
Gill, known for his key role in the 2021 GameStop short squeeze, stirred up the meme coin market last month with his first social media post in three years. He provided an update on his huge bet on GameStop stock this week, sharing a new screenshot on Reddit showing that his stock and options positions were worth $586 million.
Despite today’s plunge, the GameStop price is still up 315% over the past seven days, GeckoTerminal data shows.
Roaring Kitty, DeepFuckingValue has updated his GameStop, $GME position.
He is worth now over $586 MILLION, with a 219% gain so far. pic.twitter.com/OM7nMayCvZ
— unusual_whales (@unusual_whales) June 6, 2024
GameStop Price Bulls Are Back In The Game After Facing Rejection
The GameStop price bulls have been able to gain control of the price at the $0.01249 support level after the massive selloffs that overwhelmed them at the $0.03278 high.
If the momentum increases, it will empower the bulls to push the price back to the previous high to recover their losses.
GMEUSDT Analysis (Source: Tradingview)
Additionally, GME’s price is trading well above the 200-day Simple Moving Average (SMA), which offers immediate support. If the price rises, it could turn the 50-day SMA into a new support level, signalling a sustained rally.
The Relative Strength Index (RSI) indicates that investors are back in a buying position as it rebounds from the oversold level of 30. Increased momentum could push the RSI past the 50-midline level and into the 70-overbought region.
The Moving Average Convergence Divergence (MACD) suggests a bullish trend is returning below the neutral line, as the blue MACD line crosses above the orange signal line, creating a bullish crossover. The green bars on the histogram near the neutral line indicate that GME is experiencing positive momentum, which could drive it to a new all-time high (ATH).
GameStop Price Prediction: A New ATH
With the RSI and MACD showing that the asset is regaining momentum, investors may start taking positions, pushing GME slightly back to reclaim its previous high. However, the main technical indicators show that GME is set to soar to a new ATH above $0.050 as long as the bulls maintain the price movement above the $0.01493 support level.
However, if the bears return, the price could slip below the current support level, forcing the bulls to retreat to the $0.009419 support zone.
Last Call As Sealana Wraps Up Presale
As traders await more favourable conditions to buy GME, investors are piling into the Sealana (SEAL) only 17 days left in its presale.
The Solana-based meme coin embodies American patriotism, featuring a chubby seal mascot inspired by South Park’s notorious “World of Warcraft guy.” He’s so absorbed in the degen market that he’s become messy, obese, and with an insatiable appetite for junk food, mostly canned tuna and chips.
Sealana has expanded to become a multichain project. It now offers a BNB Chain version of $SEAL and allows $SEAL purchases on Ethereum (ETH).
Having raised over $3 million, the project team has officially announced that the presale will conclude on June 25 at 6 PM UTC.
#Sealana has got some big news for y'all today! 🦭🍻 After a long night of drinking, doin' American $SEAL things 🇺🇸 and blacking out! 😵 He woke up with some real mental clarity and made the call that the #Presale's gonna end on June 25th at 6 pm UTC! ⏰
You know what that… pic.twitter.com/va7W8abVjb
— Sealana (@Sealana_Token) June 6, 2024
After the presale wraps up, $SEAL tokens will be distributed to participants through an airdrop directly to presale buyers, regardless of whether they used SOL, ETH, or BNB.
This process eliminates the need for manual claiming and the cost of paying gas fees. The airdrop is scheduled to occur a few days after the presale ends.
According to Crypto Boy, a crypto analyst on YouTube with almost 40K subscribers, $SEAL has the potential to soar 100X after its launch.
If interested, you can still buy $SEAL tokens on the official website for $0.022 each. But hurry before the presale ends in 17 days.
Buy SEAL Tokens here using ETH, USDT, BNB, or SOL or a card,
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