GameStop shares fell for a second day, falling 12% in U.S. trading on Monday, after falling 40% on Friday, CoinDesk reported. This put pressure on some meme coins that tend to follow the stock. GME closed at $24.89 on Monday, down 62% from its two-year high of $61 last Thursday. Separately, GME, the Solana-based meme coin that mimics the company, fell 25%, reversing a gain of more than 200% over the past seven days. Related coins that move with GME shares, such as Roaring Kitty (KITTY) and some cat-themed coins, fell at least 10% on average. Dog-themed coins such as doge (DOGE), shiba inu (SHIB) and floki (FLOKI) also retreated from last week's gains, falling from 4% to 10%. However, the gains were wiped out after the company announced that it would sell up to 75 million shares, just days after it raised $933 million by selling 45 million shares. The company also announced a decline in quarterly sales, which hit investor sentiment.
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