GameStop (GME) Rises 80% in 24 Hours, But This Altcoin Can Take You Even Higher

Highly profitable investors are profitable because of two things: one, they stay on top of the happenings in the market, and two, they go all in when they are convinced of a coin.

Yesterday was a good day for many GameStop investors, as meme stock surged more than 80% during trading hours before being halted. While this is a decent profit anyway, market analysts say it could be child’s play compared to what this new altcoin, Pikamoon, can deliver to its investors in 2024.

In this article, we will discuss the resurgence of GME stock. Is it time to buy GameStop or to consider Pikamoon, according to the token analysts as 2024’s top pick?

GameStop (GME) Revival: Can This Hype Translate to Sustainable Growth?

GameStop (GME) has become the talk of the town again, experiencing an astonishing 80%+ surge in just 24 hours. This rapid price growth has left many wondering about the factors driving such remarkable price action.

Let’s take a closer look at the factors driving GameStop’s latest surge and determine whether this upward momentum can be sustained.

The role of social media influencers

One of the key drivers behind GameStop’s recent surge is the influence of social media, especially platforms like Reddit and X.

The revival of Keith Gill, also known as “Roaring Kitty,” on X after a long absence has sparked enthusiasm among retail investors. Gill’s previous advocacy for GameStop played a significant role in the stock’s historic rally in early 2021, and his return has reignited excitement in the community.

1. Short Squeeze Dynamics

GameStop’s surge is also being fueled by what’s called a short squeeze. Short sellers, who bet against GameStop’s stock by borrowing and selling stock, are now losing money as the stock price rises. To limit their losses, they buy back shares at higher prices, pushing the stock even higher.

2. Retail investor excitement

Individual investors, inspired by past meme stock successes, are eagerly joining the GameStop rally. Online trading platforms have made it easier for everyday people to invest in the stock market. With the help of social media buzz, more people get involved, leading to wild swings in GameStop’s stock price.

A closer analysis of the chart shows that GameStop’s stock has seen a steady decline since 2021, falling more than 80% from its all-time high that year. However, there are signs of a potential reversal as the stock appears to have found support around the $12.67 level. While encouraging, it is premature to determine whether bullish momentum has fully returned.

Examining the technical indicators, the Relative Strength Index (RSI) currently stands at 54%, indicating a slight bullish sentiment for GME.

To maintain this momentum, GameStop needs to maintain its position above the 50% RSI threshold and the previously broken resistance level of $25.50. If these conditions are met, it could attract more buyers to the market, possibly leading to a recovery and further upward movement in GME’s share price.

However, investors should remain cautious and monitor the situation closely for any changes in market dynamics. While GameStop profitability looks uncertain, analysts have identified an altcoin with better potential for profit, Pikamoon.

Pikamoon differentiates itself with a unique concept called hybrid memecoin. By combining the appeal of meme coins with the growing popularity of blockchain-based games, Pikamoon offers investors a unique opportunity to capitalize on both trends simultaneously.

This is why crypto veterans are convinced that Pikamoon has the potential to become the best investment in 2024:

Global Influencer Partnerships: Pikamoon has forged partnerships with 100 global influencers, strengthening their presence and credibility in the crypto space.

Explosive Community Growth: The Pikamoon community has experienced exponential growth, with 38,000+ Twitter followers and over 17,000 members on Telegram. This vibrant community serves as the backbone of Pikamoon’s success.

Fully Docked Founders: Transparency is a rarity in Web3, but Pikamoon has it in abundance. Simply put, you can get to know the project’s three fully doxxed founders via the alpha-laden Pikamoon Podcast, or for more relaxed viewing, the trio’s behind-the-scenes vlog channel, BullishTube.

4. Open World Gameplay Trailer & BETA: Again, unlike many other projects in Web3 space, Pikamoon builds real products. In turn, it saw the rollout of its Beta in less than 6 months, as well as the release of a teaser trailer for its Open World gameplay.

5. Deflationary Tokenomics: Pikamoon uses deflationary tokenomics, which means that the total supply of PIKA tokens decreases over time. This scarcity model increases the intrinsic value of PIKA tokens and stimulates long-term ownership among investors. As the token supply decreases, demand for PIKA tokens is expected to increase, increasing their value and rewarding early adopters.

6. Tier-1 Exchange Listings: Pikamoon is listed on top exchanges such as Uniswap, MEXC and BitGet. Listing on multiple exchanges represents a strategic move that strengthens Pikamoon’s presence, accessibility and credibility in the cryptocurrency market.

7. Comparative market capitalization analysis: When Pikamoon’s market capitalization is compared with that of competitors such as Axie Infinity (AXS), Illuvium (ILV) and Sandbox (SAND) during the last bull market, Pikamoon’s potential for exponential growth becomes clear. As the crypto market continues to evolve, Pikamoon’s competitive positioning and growth trajectory remain compelling factors for investors to consider.

High potential to make 1000% in 2024

If you are genuinely interested in making money in 2024, then Pikamoon has everything you could hope for. Even better, Pikamoon’s current price offers crypto enthusiasts the best potential to become crypto millionaires in 2024 with little capital to invest.

With crypto analysts touting PIKA as the best pick in 2024 and crypto whales loading up their bags, a 1000% price increase could be on the horizon.