May 15, 2024 - Economy

πŸ˜΅β€πŸ’« Meme-stock coins

Image of a list of memecoins with stock tickers

Screenshot: @joemccann (social media)

The reappearance of the meme-stock trade looked like a threat to crypto, until crypto coined those too.

Between the lines: 🧸 Roaring Kitty looked bearish for crypto because Keith Gill and his crew would divert capital and attention to stonks.

  • A controversial manosphere influencer named Andrew Tate claimed he pulled money out of bitcoin and put it into GameStop to "take down" Wall Street.

The intrigue: Crypto's answer to that: Simply coin stocksπŸ‘†

What we're watching: There's a slew of them out there already β€” memecoins with tickers like GME, AMC and NVDA.

These aren't to be mistaken for tokenized stocks β€” they don't represent shares in the company nor are they reflective of underlying fundamentals.

  • πŸ€” GME-options traders aren't exactly driven by fundamentals either.
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