Inflation Data Comes in Hot as GameStop and GME-Inspired Memecoin on Solana Continue Ripping Higher

Inflation Data Comes in Hot as GameStop and GME-Inspired Memecoin on Solana Continue Ripping Higher


Gamestop and a GME-inspired memecoin are rallying harder as hotter-than-expected inflation data boosts risk appetite in crypto and stocks.

The producer price index (PPI), which measures what producers receive for their goods, increased 0.5% in April and was up 2.2% on a 12-month basis, according to the latest release from the Bureau of Labor Statistics (BLS).

It was the biggest gain so far this year, and was higher than the forecasted 0.2%.

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Meanwhile, stock indices have pushed slightly higher as Wall Street digests the data, and Gamestop, the meme stock that exploded in 2021 causing hedge funds to lose large amounts of capital, is continuing its resurgence following the return of the movement’s leader, “Roaring Kitty.”

GME opened the day over $64, up more than

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