Amid a sense of boredom in the market, crypto traders have turned to unofficial GameStop (CRYPTO:GME) memecoins, riding the wave of any glimmer of hope, according to analysts.

The surge in GameStop memecoins, like GME (CRYPTO:GME) on the Solana (CRYPTO:SOL) blockchain, coincided with a 204.50% increase in GameStop's stock price.

Traders speculate that the excitement around GameStop memecoins reflects unallocated capital seeking opportunities.

However, some believe the market needs new narratives to drive confidence, as evidenced by the decreased overall sentiment over the past month.

Despite this, narratives such as tokenised real-world assets and developments in blockchain networks like Solana continue to shape the crypto landscape.