Meme Stock Outperforms Bitcoin Price in May – Will These Under-The-Radar Solana Meme Coins Next?

If someone asked you about the hottest story in crypto this week, the unexpected answer might be meme stocks. Even though they are not part of the crypto world, meme stocks Gamestop (GME) and AMC have had influence on the crypto market in recent days. For example, meme coin Solana GME pumped over 2,500% this week. Interestingly, these meme stocks also outperformed Bitcoin’s price movement.

CrediBULL Crypto, a popular crypto influencer with nearly 400k followers on X, has weighed in on the price explosion of meme coin GME. He acknowledged the coin’s substantial market value (over $100 million) and momentum, but warned investors about the risks involved.

He emphasized that currency movement is based solely on momentum and narrative, and buyers could be buying at the top, risking substantial losses.

Let’s explore what happened to meme stocks and whether Solana meme coin presales will be next to experience a similar explosive price rise.

Meme Stock Prices Soar, Bitcoin Prices Drop

As reported by Watcher Guru, “GameStop’s $GME shares outperformed Bitcoin’s annual returns in a single day.” This statement highlights the intensity of the meme stock frenzy.

After a 74% rally on Monday, Gamestock shares continued to rise the next day, along with AMC and other meme stocks. Combined with AMC, another popular Reddit stock, GameStop’s latest frenzy cost short sellers more than $5 billion during Monday and Tuesday. GameStop shares have gained about 200% over the past 12 months, and as of this morning, the AMC Price doubled.

In comparison, the price of Bitcoin has increased by 124% during the same period, indicating that the GME meme stock price has recently outperformed the price action of BTC.

A crypto analyst Ali with nearly 40k followers on X tweeted: “Bitcoin network activity continues to decline. More importantly, BTC whales appear to be taking a breather, with the number of large transactions also decreasing, as Santiment data shows.” This observation suggests a potential slowdown in Bitcoin momentum.

Bitcoin price is trading slightly below $62K at press time, with very low trading volumes over the last 24 hours. O Relative Strength Index (RSI) is around 40 on the daily chart, indicating neutral to bearish sentiment in the near term.

If we look at data from May, it becomes even more evident how meme stocks outperformed Bitcoin’s price. Bitcoin began the month trading around the $60,000 level and is currently hovering around $62,000, representing a modest gain of approximately 3%. In contrast, the GameStop Meme Stock (GME) showed a recovery of almost 500% this month alone.

ClayBroa popular YouTuber with over 120k subscribers, posted a positive video discussing the GME and AMC meme stock bombs.

He expressed a strong conviction that this movement resembles the energy and potential seen in 2021, urging his followers to maintain this momentum for possible results. He also sent a dig at AMC CEO Adam Aaron for his actions during this move, suggesting the need for cautious optimism among investors.

Solana Meme Coins to Pump?

ClayBro posted another video today about a Solana meme coin that recently finished its pre-sale (where over $15 million was raised), Lazinessand a new Solana meme coin presale, Selana.

He mentioned substantial gains associated with Slothana as this meme coin on Solana pumped over 500% in the last 7 days reach a market value of US$100 million. However, SLOTH’s price is seeing a 30% decline today and has a market cap of less than $70 million at press time, so it could potentially present a good entry point for investors.

The speaker highlighted that millions of dollars worth of Slothana have been burned recently, contributing to the increase in its price. Every penny gained in value leads to the burning of another million dollars.

Additionally, the video highlighted an influx of buyers, suggesting a bullish outlook for Sealana similar to that of Slothana. ClayBro emphasized the importance of using the official affiliate link provided to avoid fraud, reflecting the excitement surrounding meme coins and their potential for quick profits. Sealana raised over $900K in her crypto presale.

Based on everything above, these two coins, Slothana and Sealana, could potentially be among the best Solana meme coins to consider buying right now.

Conclusion

Overall, meme stocks like Gamestop (GME) and AMC outperformed the price of Bitcoin in May. While the meme stock frenzy has provided investors with substantial gains, the crypto market has witnessed a surge in interest in Solana meme coins and their pre-sales.

Solana meme coins such as Slothana and Sealana have drawn attention and raised funds during their pre-sales, potentially positioning them as the next meme coins to experience a price surge.

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