Mirroring the 2021 cycle, the profits from GameStop could spill into altcoins, catalyzing the start of the 2024 altcoin season. Could history repeat itself?

GameStop tops Bitcoin's yearly gains in one day — Will GME spark an altcoin rally?

GameStop shares have surpassed Bitcoin’s $61,322 in yearly returns within a day. Could part of the profits find themselves in the altcoin market, similar to the previous bull cycle?

GameStop stock outperforms BTC’s yearly returns in a day

On the yearly chart, the returns of GameStop shares are up over 154%, compared to Bitcoin’s over 129% yearly returns, according to TradingView.

Most of GameStop’s returns came during the past two days, with GameStop's price rising over 105% on May 14, as of 2:35 PM in UTC.

GameStop’s price started rising on May 13 after Keith Gill, the man widely credited with kicking off the 2021 GameStop short squeeze, unexpectedly returned to social media after a nearly three-year hiatus.

In the 24 hours following Gil’s return to X, shares of GameStop rallied as much as 111%, while Dogecoin DOGE $0.15 and the Shiba Inu token (SHIB) gained $0.000023, respectively, in the same time frame.