Meme Coin Industry Surge Following GameStop (GME) Momentum

Following the resurgence of Keith Gill, famously known as Roaring Kitty, on Reddit Inc. (NYSE. RDDT) last Sunday, 2021, GameStop (GME) stock witnessed a substantial spike of almost 100 percent during Monday's premarket trading. Keith Gill's revelation of a stock portfolio exceeding $110 million categorized him among the whale investors. Subsequently, the spike in GameStop shares spurred a significant uptrend in meme coins inspired by the entertainment company.

Escalation of GameStop-Inspired Meme Coins

In the recent 24-hour period, several meme coin projects on diverse blockchains experienced notable gains for early backers. The meme coin sector's valuation escalated by 2 percent to about $66.8 billion, with a daily average trading volume reaching approximately $5.9 billion.

The prominent beneficiaries of the GameStop surge were meme coins influenced by Wall Street entities like GME and AMC. For example, GME (Ethereum) observed an increase of over 10x, while Solana SOL-based GME (GME) surged by more than 200 percent within the same 24-hour timeframe.

Prime Meme Coin Projects to Monitor This Week

As per insights from a popular crypto analyst using the pseudonym Scofield on the X platform, the meme coin industry is expected to witness significant activity in the forthcoming days, buoyed by Keith Gill's heightened presence on social media platforms. This analyst has endorsed top meme coins with solid fundamentals such as Dogecoin (DOGE), Dogwifhat (WIF), Pepe (PEPE), Floki Inu (FLOKI), Shiba Inu (SHIB), and Bonk (BONK).

The analyst specifically highlighted Floki Inu as a key beneficiary, citing its over 16 percent growth in the last 24 hours, with a trading price around $0.00028 on the current Monday. Moreover, Floki Inu boasts an impressive track record, with a total value locked (TVL) of approximately half a billion and a substantial supply shock.