GameStop’s Foray Into Bitcoin Sends GME Memecoin Up 50% This Week

GME’s (GME) price surged by nearly 50% this week following an announcement from GameStop Corp. that it has officially adopted Bitcoin as part of its treasury reserve strategy.

GameStop Announces Strategy-Like Bitcoin Acquisition Plans

GameStop, known for its role in the 2021 stock market frenzy, said it would diversify its balance sheet by allocating a portion of its cash holdings into Bitcoin, citing long-term value preservation.

The move aligns GameStop with a growing cohort of publicly traded companies turning to digital assets as an inflation hedge and reserve diversification strategy. That includes Japanese firm MetaPlanet and Nasdaq-listed Strategy (aka MicroStrategy).

The GME memecoin is not affiliated with GameStop Corp.. Still, it has rallied on the news, reflecting a typical pattern in the crypto market where speculative tokens tied to cultural or corporate narratives often benefit from headline-driven momentum.

Other speculative assets, such as Fartcoin (FARTCOIN), have also posted outsized returns in recent months, largely on the back of social media momentum and retail speculation.

GME Memecoin Eyes 650% Rally Ahead of GameStop Event

In addition to the fundamental tailwind, the GME/USDT pair has broken out of a multimonth falling wedge pattern, a technical structure historically viewed as a bullish reversal indicator.

The breakout, confirmed earlier this week, has pushed the token’s price to around $0.0027, up from $0.0018.

The upside target from this breakout, based on the wedge’s maximum height, suggests a potential rally toward the $0.0205 mark—an over 650% increase from current levels.

GME’s rally—should it ever materialize—could appear ahead of GameStop’s 2025 Annual Meeting of Stockholders on June 12.

The agenda includes the election of five directors, an advisory vote on executive compensation, and ratification of the appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending Jan. 31, 2026. Bitcoin may be discussed.

Meanwhile, GME’s falling wedge breakout has occurred on relatively weak trading volume, raising concerns over the sustainability of the move.

Memecoin volatility remains a key risk. Unlike utility-based tokens or coins with active development ecosystems, memecoins rely heavily on sentiment, which can reverse quickly.

In past cycles, rapid gains in memecoins have often been followed by steep and prolonged corrections.