The stock price of GameStop Corp (NYSE: GME) has surged approximately 17% in pre-market trading, following a previous decline due to the company's announcement of a major share sell-off.

This surge has caught attention, sparking curiosity among traders who suspect it might influence other meme-based investments. Interestingly, as GameStop's stock price rises, several meme coins are also seeing an upward trend, according to hourly charts. This parallel movement has led to speculation about a possible connection between GME’s 17% rally and the gains in meme coins.

**Factors Behind GameStop’s (GME) Price Rally**

GameStop’s pre-market rise is linked to events from May 24. In a Form 8-K filing with the US Securities and Exchange Commission (SEC), GameStop disclosed it had sold 45 million shares through an at-the-market (ATM) program, generating about $933.4 million in gross proceeds via an open market agreement with Jefferies LLC.

Pre-market data from NASDAQ showed GameStop’s stock price at $22.35, a 17% increase, indicating growing investor confidence following the share sale and ongoing interest in the company’s strategic developments.

Additionally, the rally in GameStop’s price seems to be influencing the meme coin sector. Despite negative 24-hour gains for the top three meme cryptocurrencies by market cap, their hourly charts display significant upward momentum. Dogecoin (DOGE) rose 0.85% to $0.1665, Shiba Inu (SHIB) increased 1.49% to $0.00002528, and Pepe Coin surged 2.37% to $0.00001676. These movements suggest that the excitement around GameStop’s stock is impacting the meme coin market.

Other meme coins, such as WIF, FLOKI, and BONK, also saw notable hourly gains of 3-5%, drawing global attention as market participants speculate on whether GameStop’s momentum will extend to the meme coin sector.

The successful share sale has bolstered GameStop’s balance sheet, fueling speculation about the company’s future moves. As GameStop continues to evolve, its influence seems to be extending beyond traditional stock markets into the realm of digital currencies.