According to BlockBeats, on July 23, GMGN monitoring showed that the market capitalization of Meme coin GME on Robinhood Chain briefly exceeded $20 million, currently trading at approximately $17.1 million, with a 24-hour trading volume of approximately $23.9 million.
It is understood that the token was issued today through Bankr and is a meme coin built around the retail culture of GameStop and GME. It is neither GameStop stock nor Robinhood's official GME stock token. Its main narrative is to bring the traditional US stock meme culture to the Robinhood Chain and directly use the official GME Stock Token as the trading pair, forming a "meme coin + stock token" gameplay.
Due to the limited liquidity of the on-chain GME stock token, concentrated buying pressure briefly pushed its price up. Simultaneously, since the Meme coin is denominated in GME stock tokens, the rise in the stock token also increases the USD price and market capitalization of Meme GME, further attracting market buying.
In the morning, GME Stock Token was trading at $31.81, a premium of about 46.7% over the US GME stock price of approximately $21.70 at the same time. As market makers replenished the token supply and arbitrage funds entered the market, the premium subsequently narrowed.
In addition, MEXC has included the Meme coin under the name GMEROBINHOOD in Meme+ and launched perpetual contracts with up to 20x leverage.
BlockBeats reminds users that this Meme coin is not the same asset as GameStop and Robinhood's official GME stock token, and its price fluctuates significantly. Investors should be aware of the risks.