Bitget CEO Draws GameStop Parallel As RaveDAO (RAVE) Falls Nearly 100% [Yahoo! Finance]
GameStop Corporation (GME)
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Source: Yahoo! Finance
The collapse followed a parabolic rally that saw RAVE gain over 10,000% in two weeks, briefly pushing it into the top 20 cryptocurrencies by market capitalization. Bitget CEO Gracy Chen Compares RAVE Crash to 2021 GameStop Frenzy As of this writing, RaveDAO's powering token, RAVE, is down 95% over the last 24 hours, almost reaching its floor price after topping out at $28.89 on Saturday. RaveDAO (RAVE) Price Performance. Source: Coingecko Bitget CEO Gracy Chen compared the RAVE collapse to the 2021 GameStop (GME) short squeeze. She noted that GME, a struggling retailer with a fair value of $10 to $20, reached $483 on collective action alone. Chen identified FOMO, tribal identity, and self-fulfilling prophecy as the psychological forces behind both events. She argued RAVE followed the same playbook, with X (Twitter) replacing Reddit and a meme coin replacing a physical stock. On-chain analyst ZachXBT had previously flagged suspicious wallet movements, alleging that insider
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GME
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- 9/9/25 - Beat
GME
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- 4/15/26 - Form 4
- 4/13/26 - Form 144
- 4/3/26 - Form 4
- GME's page on the SEC website