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The GameStop price plummeted 24% in the last 24 hours to trade at $0.01654 as of 03:57 a.m. EST on trading volume that slumped 38% to $111 million.
This came after Keith Gill, widely known as Roaring Kitty on X, saw $350 million wiped from his profits on GameStop shares in a week after the company’s stock price sank more than 50%.
According to Michael Pachter, a GameStop analyst at Wedbush, the company’s prospects for a major recovery are bleak. Pachter argues that the stock’s lack of coherent strategy and past failed attempts to revitalize its business operations hinder its future.
He argues that any temporary uplift in GME’s stock price due to Roaring Kitty’s influence is likely to be short-lived.
GameStop Price Set For A Rebound Over The Ascending Triangle Pattern
The GameStop price has been on a drop in June after hitting its all-time high (ATH) of $0.03189, being 47% below this level, data from GeckoTerminal shows. However, recent price fluctuations have been on an ascending triangle pattern, with the bulls aiming to overcome the $0.01563 resistance zone.
GME trades above the 200-day Simple Moving Average (SMA), which acts as the critical support zone around $0.01563. GME bulls aim at pushing the token’s price over the 50-day SMA, which acts as the immediate resistance zone at $0.0188.
The Relative Strength Index (RSI) is trading up from the 30-oversold level, currently trading at 42, which is a signal of increasing buying pressure. If the bulls sustain this bullish momentum, the RSI could soar to the overbought region, which could prompt a bullish run.
The GameStop technical and fundamental analysis indicates that the asset is on a slight retrace. However, the bulls seem to be using the $0.0153 support to possibly push GME through a trend reversal, targeting the upper boundary of the ascending triangle around $0.023.
Conversely, if the bears exert more pressure at this point, it may push the token down through a retrace to the next support zone around $0.012.
Meanwhile, as the GameStop price aims for a bullish trend reversal, GameFi lovers are piling into the Mega Dice presale, a project that is set to be the first Gamblefi project on the Solana blockchain.
According to the 99Bitcoins YouTube channel, $DICE could potentially soar 100X after its launch.
Mega Dice Presale Garners Over $1.4 Million – Next 100X Crypto?
Mega Dice (DICE) is a crypto casino and gaming platform that has over 11,000 monthly users who lock in more than $50 million in bets. DICE is the new, native token for Mega Dice Casino, which has already garnered over $1.4 million in funding.
$DICE presale has raised $1.4 Million 🚀
Current tier price: 0.075 💰
Current presale target: $2M 💰We're implementing multiple tiered price increases, so make sure to secure your #DICE early! Don't forget, you can now utilize your $DICE directly in our Web and Telegram… pic.twitter.com/VAsI6u27aD
— Mega Dice Casino (@megadice) June 7, 2024
Users on the platform enjoy over 4,000 casino games and have access to over 50 sports and eSports betting options.
A $2.25 million airdrop giveaway over three seasons is well underway, and currently in season two. Players have an opportunity to win a maximum airdrop of $37,500.
The $DICE Season 2 Airdrop is STILL LIVE – Earn Your Share of a $750,000 AIRDROP! 🚨💰
Want a piece of the action? Just wager $5000 or more between May 15 and 28 June, 2024, and you could claim your share of the $750,000 airdrop! 😍 With a maximum airdrop of $37,500 per player,… pic.twitter.com/YiFxEUucRx
— Mega Dice Casino (@megadice) May 31, 2024
To get in on the action, all you need to do is wager $5,000 or more between May 15 and June 28 to have an opportunity to grab a portion of the $750,000 season two giveaway.
Token holders also stand a chance to share in the casino’s profits on a daily basis through its unique staking system.
To join the presale, you can buy $DICE on the official website here for $0.075 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.
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