The GameStop price soared 30% in the last 24 hours to trade at $0.01198 as of 01:04 a.m. EST on trading volume that dropped 9% to $99 million.
This comes as Citron Research founder Andrew Left announces he is shorting GameStop shares again, claiming the stock is extremely overvalued despite its recent meteoric rise.
GameStop stock surged on Monday after Keith Gill, known as “Roaring Kitty” on X, posted his portfolio holdings on Reddit, making a comeback after three years without posting on the social media site.
BREAKING: Andrew Left, the founder of Citron Research, has placed another new bet against the GameStop, $GME, today per Bloomberg.
In May, Left also announced a short position in the company’s shares.
He said “I have covered my short from May and then re-shorted today”
— unusual_whales (@unusual_whales) June 3, 2024
The Wall Street Journal reported on June 5 that Morgan Stanley’s E-Trade brokerage is considering banning Keith Gill over market manipulation concerns.
Apex Fintech Solutions CEO Bill Capuzzi commented on Yahoo Finance’s morning brief that banning Gill would be a “black eye” for E-Trade.
GME has been on an upward trajectory since, with the bulls using the symmetrical triangle pattern to push the price over as GME trades within the upper boundary of the triangle, data from GeckoTerminal shows.
GameStop Price Set To Soar Over The Symmetrical Triangle
GMEUSD Chart Analysis Source: GeckoTerminal.com
The GameStop price is set for a major rally over the upper boundary of the symmetrical triangle, with GME trading over both the 50-day and 200-day Simple Moving Averages (SMAs).
Moreover, the Relative Strength Index (RSI) is also rebounding from the oversold levels on the 1-hour chart as it closes in on the 70-overbought level, currently at 59, an indication that buyers have an upper hand.
The Moving Average Convergence Divergence (MACD) affirms the bullish sentiments, with the blue MACD line crossing over the orange trigger line, forming a bullish crossover, which could be an encouragement for the bulls to add to their buying positions.
GameStop Price Prediction
The GameStop price analysis shows a bullish bias, with the bulls aiming to push the token over the symmetrical triangle as they target $0.020.
However, if the bears breach the lower boundary of the triangle, the price will retrace further to the support zone around $0.00691, which coincides with the 200-day SMA.
Meanwhile, as the GameStop price soars, investors are also piling into the Mega Dice presale, a project that’s set to be the first GambleFi token on the Solana blockchain.
GameFi Sensation Mega Dice Zooms Past $1.3 Million In Blockbuster Presale
Mega Dice (DICE) is shaking up the crypto gaming landscape and has already zoomed past $1.3 million in funds raised.
The project stands out as a top brand in the crypto casino domain, boasting over 10,000 active players monthly and exceeding $50 million in monthly wagering.
Players also enjoy over 4,000 casino games and over 50 sports and eSports betting options.
Uncover ancient treasures and spin your way to BIG wins with our #NewGame release #TombOfGold by @ThePlayngo at Mega Dice Casino! 🏺
Ready for an adventure? 😏
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— Mega Dice Casino (@megadice) June 1, 2024
DICE seamlessly merges GambleFi and GameFi and looks to challenge the dominance of sector titan Rollbit Coin.
Users can benefit from a $2.25 million airdrop giveaway that is underway and will be distributed through three seasons, with Season 2 now ongoing.
To qualify, all you need to do is wager $5,000 or more between May 15 and June 28 to have an opportunity to grab a portion of the $750,000 giveaway. Each player will have an opportunity to win $37,500.
The $DICE Season 2 Airdrop is STILL LIVE – Earn Your Share of a $750,000 AIRDROP! 🚨💰
Want a piece of the action? Just wager $5000 or more between May 15 and 28 June, 2024, and you could claim your share of the $750,000 airdrop! 😍 With a maximum airdrop of $37,500 per player,… pic.twitter.com/YiFxEUucRx
— Mega Dice Casino (@megadice) May 31, 2024
99Bitcoins, a popular crypto channel on YouTube with over 700,000 subscribers, says that $DICE could potentially soar 100X after its launch.
Token holders also stand to share in the casino’s profits daily through its unique staking system.
To join the presale, you can buy $DICE on the official website here for $0.075 per token using BNB, ETH, or SOL. You can also earn 10% on any purchases made by investors you refer.
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