GameStop-Themed Cryptocurrencies Rise, CEO Ryan Cohen's Picture With Strategy Co-Founder Michael Saylor Spurs Speculations

Cryptocurrencies themed on video game retailer GameStop Corp. GME were up in the green Monday, buoyed by interest in CEO Ryan Cohen's picture with Strategy co-founder Michael Saylor.

GameStop Corp. (NYSE:GME) cryptocurrencies were up in the green Monday.

What Happened: Ethereum (CRYPTO: ETH)-based GameStop soared nearly 50% in the last 24 hours.

The coin, which trades under the ticker symbol GME, was up 47.6% to $1.7 and had a trading volume of $1.83 million in the last 24 hours, according to CoinMarketCap.

The surge alleviated some of the coin’s problems, as it had lost more than 33% over the last month.

Similarly, Solana (CRYPTO: SOL)-based GmeStop, with a much lower market capitalization, rose over 3% in the last 24 hours.

It's worth noting that these coins aren’t directly tied to GameStop but rather seek to capitalize on the hype surrounding the meme stock.

See Also: Man Whose $775 Million Bitcoin Fortune Lies Buried In A Landfill Now Wants To Buy The Trash Heap

The uptick comes after Cohen posted a picture with Saylor on X over the weekend, spurring speculations that the company could be leaning toward Bitcoin (CRYPTO: BTC) investments.

Strategy, formerly known as MicroStrategy (NASDAQ:MSTR), is the largest corporate holder of Bitcoin, and Saylor is known for consistently pushing for the asset's adoption.

GameStop has been one of the most popular retail stocks in the last few years, helped by the historic 2021 meme stock craze that saw the stock squeeze higher.

Keith Gill, also known as “Roaring Kitty," has been influencing GameStop price action with cryptic posts on X.

GME Price Action: Shares of GameStop soared 9.66% to $27.12 during Monday’s regular session and were up 0.99% in after-hours trading, according to data from Benzinga Pro.