Crypto investors have flocked to unofficial GameStop memecoins because they're jumping on any “sign of hope they can,” say traders.
The price of unofficial GameStop memecoins have spiked alongside the rise of Gamestop’s (GME) share price due to a general sense of sluggishness in the market, say several crypto traders.
“People are bored and are taking any little sign of hope they can,” pseudonymous crypto trader Daan Crypto Trades told Cointelegraph.
“The excitement generated around GameStop memecoins demonstrates there’s capital out there that’s not being allocated,” Tyr Capital chief investment officer Ed Hindi told Cointelegraph.
