Just like in 2016 and 2020, memetic warfare was a major contributor to US presidential elections in 2024. After it was fairly certain former President Trump secured his 2nd term, his son Donald Trump Jr. called for his 12.8 million followers to “Show me the memes!!!”., buoyed by Trump’s win on top of geopolitical factors. Following the enthusiasm spillover, many meme stocks have surged as well.
Today’s new all-time high Bitcoin price of $84.3k is a testament to this expectation. At the present price of $317 per share, Coinbase Global Inc stock is steadily approaching its own all-time high of $357 in November 2021. However, we are likely to see a price correction after the sell the news effect wanes.
According to 23 analysts, the average COIN price target is set for $243.47, while the high estimate could top the previous all-time high at $380 per share.The king of meme stocks should be viewed as the primary magnet that draws investor intention by notoriety alone. GameStop Corp (NYSE:Currently priced at $26.25 per share, GME stock is still above its 52-week average of $18.92, but farther from its high point of $64.83 for the same period.
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