GameStop losses weigh on meme coins
Meme tokens GME and KITTY experienced losses of 25% and 10% respectively due to the double-digit losses in GameStop. The GameStop stock rally reversed for the second day on Monday, resulting in a 12% drop in the US trading session. This decline affected some meme tokens that tend to follow the stock's movements. The Solana-based meme token GME, which parodies the company, saw a 25% slide after a 200% rally in the past seven days. Additionally, related tokens such as Roaring Kitty (KITTY) and some cat-themed tokens lost an average of at least 10%.
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