GameStop (GME) memecoin experienced a 1800% surge in its value to its all-time high today. This increase was driven by the return of Keith Gill, also known as TheRoaringKitty, to social media after a three-year absence. The trading frenzy was sparked by his latest tweet, which featured a meme and resulted in GME’s stock price surging by 100% on Wall Street. The renewed focus on GME demonstrates a wider cultural trend, highlighting the power of online communities and the promise of those at a disadvantage. In this article, we will explore the outcome of investing in GME at its current price and its ability to reach $1, offering perspectives on the impact this has on investors’ portfolios.

Market Performance of GameStop (GME)

GameStop (GME) has seen a noticeable increase in its market performance recently. Over the past day, it saw a 245.04% rise, and in a week, it surged by 2299.38% to reach a trading price of $0.01635.

According to CoinMarketCap, the present market capitalization of the Solana-based company is $111.8 million.

GME’s trading volume has increased by 352.48% over the past 24 hours to record $216.8 million, demonstrating a heightened amount of trading activity.

With a circulation supply of 6,885,214,218 GME tokens in circulation, the GME memecoin hit its all-time high of $0.01959 today, before declining slightly by 16.87%.

What Will Be My Portfolio Look Like If GameStop (GME) Reaches $1?

Let’s examine three scenarios to understand the possible outcomes of investing in GameStop at its current price of $0.01635 and seeing its price increase to $1, although related taxes and fees are not factored in.

Let’s look an investment of $500 in the initial case. At the present GME price of $0.01635, this investment is expected to generate around 30,566 tokens. Should the price of GME hit $1, the return on investment would be close to 99.95%, yielding almost $499.76 in profits.

Transitioning to the next scenario, an investor could obtain roughly 122,263 tokens with a $2000 investment. Should the price of GME increase to $1, the returns on this investment would be approximately $1990.32, resulting in a percentage ROI of around 99.52%.

In the third case, we will look at investing $5000. This equates to around 305,660 tokens based on the current GameStop price. If the price reaches $1, the returns from this investment would be about $4997.63, yielding a ROI of roughly 99.95%.

In each scenario, buying GameStop at its current price and seeing it rise to $1 could result in significant gains. Even a modest $500 when invested could possibly result in almost doubling your money. This highlights the unpredictability and possibility for significant profits linked to meme stocks such as GME.

Nevertheless, it is important to recognize the potential risks involved The path from $0.01635 to $1 may not be direct and could include fluctuations in price. The outlook for GameStop remains uncertain, with its fate impacted by factors such as market sentiment, company performance, and regulatory actions.

Investors need to carefully research, evaluate their tolerance for risk, and spread out their investments. Even though the appeal of making fast money is strong, it’s important to be careful and have practical expectations when investing in such opportunities.

Whether GameStop and meme stocks are passing fads or lasting trends in the finance sector remains uncertain and only time will tell.

The post What Will Be My Portfolio If GameStop (GME) Hits $1 appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am