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The GameStop price skyrocketed 392% in the last 24 hours to trade at $0.01250 as of 02:47 a.m. EST on trading volume that dropped 39% to $8.4 million.
This comes as the leader of the GameStop saga back in 2021 made an internet appearance for the first time in nearly three years. Keith Gill, who uses the pseudonym “Roaring Kitty,” posted a gamer meme early on Monday, and has since posted a number of other videos.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
The resurgence of the GameStop narrative has triggered a new bout of meme coin mania with the sector’s market cap surging 4.4% to almost $53 billion..
GameStop Set To Sustain Its Surge Over The Bullish Pennant
The GameStop price has been on an uptrend in the last two days, trading through a markup phase as it soared to the resistance level around $0.0150, data from Geckoterminal shows. However, the bulls have not been able to reclaim this high, with GME trading within this range, forming a bullish pennant pattern.
GME bulls are aiming to push the price higher above the upper boundary of the bullish pennant.
GME trades well above both the 50-day and 200-day Simple Moving Averages (SMAs), a confirmation of the general bullish potential to push the price through a prolonged bullish rally.
Additionally, the Relative Strength Index (RSI) is moving towards the 70-overbought region, currently at 64, which indicates increasing interest from investors, which could drive GME through intense buying pressure.
The Moving Average Convergence Divergence (MACD) is also bullish, as the MACD line (blue) crosses above the signal line (orange), forming a bullish crossover. Optimistic investors often use a bullish crossover as a signal to buy more, which could in turn push the price higher.
Moreover, the green bars on the histogram extend gracefully above the neutral line, showing that GME is currently on a positive momentum. This strong bullish trend is supported by the readings on the Average Directional Index (ADX), which is moving to the north above level 50, currently at 70.
GameStop Price Prediction
The GameStop price analysis on the 1-hour chart indicates that the bullish momentum is strong, with the GME bulls aiming to push the price above the bullish pennant pattern, as they target $0.0225.
However, with the recent surge, the bears may start booking profits, which could prompt a price retrace back to the support around $0.00464, which coincides with the 200-day SMA.
Meanwhile, as the GME price soars, investors are also buying its alternative, Mega Dice, a GambleFi project on the Solana blockchain that’s already amassed over $960K in presale.
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— Mega Dice Casino (@megadice) May 13, 2024
Mega Dice Presale Garners Over $960K – Top GambleFi Crypto On Solana
Mega Dice (DICE) is rapidly gaining a reputation as one of the fastest-growing crypto casinos, boasting over 50,000 active players and a monthly wagering turnover exceeding $50 million.
With its recent ICO launch, Mega Dice became the first GambleFi project on the Solana blockchain. It aims to challenge casino sector titan Rollbit Coin, and emulate the success of earlier presales like TG.Casino, which exploded 4x on launch.
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— Mega Dice Casino (@megadice) April 30, 2024
The project will offer daily rewards to users based on casino performance.
Get ready for a high-flying adventure with our #CrashGame #MagnifyMan! 🚀
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Token holders also have an opportunity to earn passively by staking $DICE, with the team allocating 10% of DICE’s total 420 million tokens for staking rewards.
According to 99Bitcoins, a crypto YouTube channel boasting over 700K subscribers, $DICE has the potential to surge 100x after launch.
If you’d like to join the presale, you can buy $DICE on the official website here for $0.069 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.
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