GME (CRYPTO:GME), an unofficial Solana (CRYPTO:SOL) meme coin parodying GameStop (CRYPTO:GME), has surged over 2,000% in the past week, surpassing a $100 million market capitalisation amid a trading frenzy linked to the retailer's stock surge.

Fueled by investor interest in GameStop Corp shares, the meme coin's rise coincides with its listing on centralised exchanges like Bitget and BingX.

The unexpected return of trader Keith Gill, along with GameStop CEO Ryan Cohen's substantial unrealised gains, has contributed to another short squeeze in GameStop shares.

However, the euphoria surrounding meme coins has also attracted warnings from experts about reckless investor behavior, exemplified by previous instances of meme coin projects raising significant funds only to abruptly abandon them.