The rise of retail investors and characters like Keith Gill, aka Roaring Kitty or DFV, captivated the financial world in 2021. Now, the meme stock frenzy is back, sparked by Keith Gill’s return to X after a long break.
Interestingly, Gill’s tweets brought new life not only to $GME stock but also to Bitcoin and AI tokens.
After a lasting trend on meme coins, investors shift to utility-driven projects with a potential for long-term returns and real-world problem-solving.
5th Scape ($5SCAPE) is a prime example of an AI token with strong utility. The native coin of the 5th Scape VR and AR gaming ecosystem offers dynamic staking APY and is now available on presale, which is set to reach the $6M milestone by the end of this week.
Let’s see why this project attracts investors and whether AI will become the next big thing in crypto.
Meme Culture Meets Utility
Keith Gill saved GameStop from the verge of bankruptcy in 2021, but the frenzy also benefited other companies. For example, $AMC stock grew by 2,300%.
Together, $GME and $AMC shares became known as ‘meme stocks’ and marked the beginning of the 2021 meme mania.
The same year saw a surge in meme coins like $DOGE and $SHIB, driven by celebrity endorsements and community spirit. However, the entire crypto market, including speculative assets, experienced a downturn in 2022–2023.
Fast forward to 2024, and we witness echoes of the 2021 meme mania. While the peak frenzy had subsided, tokens like $DOGE still held a loyal community that continued to trade and discuss them online.
Roaring Kitty’s tweet on May 13 acted as another catalyst. He posted a picture of a man leaning forward in his gaming chair without any text. However, the context is clear for Roaring Kitty’s long-standing followers – it hints that Keith returns to the investing game.
Since then, Roaring Kitty hasn’t posted anything beyond memes, yet retail investors celebrated his comeback by putting money into GameStop’s ($GME) stock, which soared from $17 to $37 shortly after the market opening and stood at $48 yesterday at the close.
Social media momentum and the introduction of meme coins with innovative features, like $DOGEVERSE’s multichain interoperability, renewed investor interest in the sector.
But although meme stocks and coins grab headlines, it’s evident that investors gravitate towards assets with substantial utility, even if they rely on memes for initial hype.
Given this trend, the uprise in AI tokens like $5SCAPE and $WAI is unsurprising. The 5th Scape ecosystem offers hyper-realistic games, movies, and even hardware like headsets and chairs.
It’s worth noting that only one game is playable at the moment (Cage Conquest), and developers will announce the release of new titles once per quarter.
The $5SCAPE token acts as a universal currency for every 5th Scape product. This means that its value heavily relies on the success of the underlying project.
$5SCAPE Presale Rewards Early Supporters
The $5SCAPE token presale launched in March 2024 and raised nearly $6M since then. One token is now worth $0.00327, 74% above its starting price of $0.00187. Still, the presale is far from its final stages, and we’ll see more price increases down the road.
Out of the total 5.211B token supply, 80% is allocated to presale. However, tokens will be locked for eight weeks after the presale ends to reduce immediate selling pressure and maintain the $5SCAPE value.
Staking with high dynamic APY and access to exclusive in-game features is another incentive for early investors to hold their tokens.
Unlike many projects that only offer staking for monetary gains, 5th Scape aims to build a loyal community that would support long-term growth of the platform.
The project is currently at Phase 2 of the roadmap, focused on promotion and development. We’re likely to see the $5SCAPE token listing on CMC, CoinGecko, and DEXs in Phase 3, which might boost its price.
To buy $5SCAPE now, visit the official presale website, select a payment method, connect your crypto wallet, enter the number of tokens to buy, and confirm the transaction.
Read the 5th Scape whitepaper and follow its X channel for more information about the project.
Closing Thoughts
With the meme stock frenzy reignited, a shift is underway. Investors seek utility-driven projects with real-world applications, like the 5th Scape. As the $5SCAPE presale reaches new milestones, we’re excited about the release of new games and products within the ecosystem.
However, we must remind you that the crypto market is volatile. It’s important to DYOR and never invest more than you’re prepared to lose, even if the project has strong potential.
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