GME memecoin plunges to $0.0000054 following liquidation news | Credit: Derek Fenech
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Key Takeaways
GameStop Coin (GME) memecoin plunged 98% in 24 hours after forced liquidation news.
Korea Investment & Securities ordered a mandatory liquidation of all GME option contracts.
While the memecoin collapsed, GameStop’s stock rose 2.41% to $25.53, indicating strength.
GameStop Coin (GME), the memecoin inspired by the GameStop stock, has crashed 98% in the last 24 hours.
This development came after a South Korean exchange forced liquidations for the stock.
In this piece, CCN reveals all the details and whether the GME memecoin will rebound after this collapse.
Why GameStop Coin Crashed
Marcel Kalinovic, CEO of Lit Exchange, revealed that stockbroker-dealer Korea Investment & Securities, a subsidiary of BNP Paribas’ prime brokerage arm, has informed clients that all positions in GameStop (GME) options will be subject to mandatory liquidation.
The firm announced that all GME option contracts will be force-liquidated by Sept. 30, 2025, coinciding with a trading halt scheduled for the same date.
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According to the notice, the move is due to a “system change related to rights.” Clients affected by the liquidation will incur a fee of $12.50 per contract.
“Stock broker-dealer, Korea Investment & Securities (subsidiary of BNP Paribas, prime brokerage parent co) just told clients they’ll be force-liquidated out of GME options,” Kalinovic posted on X.
Before the development, the GameStop coin price was $0.00039. After the news, things changed as the GME memecoin price crashed, and it currently trades at $0.0000054.
No Rebound
On the 4-hour chart, the outlook for the GME memecoin appears bearish, with little sign of an imminent recovery.
A key indicator behind this weakness is the Moving Average Convergence Divergence (MACD), which currently sits in negative territory after forming a bearish crossover.
The signal was triggered as the 12-period Exponential Moving Average (EMA) (blue) crossed below the 26-period EMA (orange), reinforcing downside momentum.
Adding to the pressure, the Awesome Oscillator (AO) has also slipped into negative territory, printing consecutive red histogram bars — a sign that bearish momentum continues to build.
Should the bearish momentum persist, the GME memecoin could extend its decline and register new lows in the sessions ahead.
However, if substantial buying pressure re-enters the market, there remains a slim possibility of a turnaround.
A significant inflow of capital could help reverse the current trend, potentially sparking a price rebound for the token.
GameStop Stock Rises
Fortunately, the decline in the GME memecoin has not spilled over into traditional markets.
In fact, GameStop’s stock (NYSE: GME) has shown resilience, climbing to $25.53 per share, marking a 2.41% gain over the past 24 hours.
This divergence highlights how sentiment in the speculative memecoin market does not always translate directly into movements in the underlying equity.
In conclusion, traders should remain cautious with the GME memecoin given its bearish technical structure.
However, equity investors may view the stock’s uptick as a sign of resilience. This is a reminder that the paths of crypto speculation and traditional equities can diverge even when tied to the same brand name.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
