{"id":553440,"date":"2023-09-29T01:00:23","date_gmt":"2023-09-29T01:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=553440"},"modified":"2023-09-28T20:13:34","modified_gmt":"2023-09-28T20:13:34","slug":"gamestop-billionaire-ceo-bullish-dogecoin","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/gamestop-billionaire-ceo-bullish-dogecoin\/","title":{"rendered":"Billionaire Takes Over As GameStop CEO, Bullish For Dogecoin?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Billionaire investor Ryan Cohen has been\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.telegraph.co.uk\/business\/2023\/09\/28\/ryan-cohen-gamestop-stock-surge-chief-executive-chairman\/\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">appointed<\/span><\/a><span data-preserver-spaces=\"true\"> as the new Chief Executive Officer (CEO) of GameStop, a brick-and-mortar video game retailer in the United States, a move that could potentially impact Dogecoin. GameStop&#8217;s stock and the Dogecoin price have shown signs of correlation. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Before assuming this role, Cohen had been the Executive Chairman of GameStop since January 2022 and remained the largest shareholder. <\/span><span data-preserver-spaces=\"true\">The experienced investor takes over in what analysts said is an attempt by the board to turn around the fortunes of the public company.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Pro-GameStop Billionaire Takes Over As CEO<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In this role, Cohen takes over as the President, Chief Executive, and Chairman of GameStop, representing a move to overhaul and possibly revive the company&#8217;s leadership structure. While he assumes several positions, reports indicate that the billionaire won&#8217;t receive a salary.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Following news of Cohen&#8217;s announcement, GameStop prices surged 10%. Analysts interpret this expansion as confidence in the experienced investor&#8217;s capability and even genuine commitment to sparking a turnaround following challenges in 2022 and the shifting landscape that has seen sales in brick-and-mortar stores fall.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/altcoin\/research-firm-reveals-altcoin-trading-playbook\/\" target=\"_blank\" rel=\"noopener \">Research Firm Reveals Its \u201cAltcoin Trading Playbook\u201d<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">The appointment is bullish for GameStop because Cohen is one of the largest shareholders. From September 2020, the billionaire started accumulating aggressively through to December 2020.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The billionaire publicly supported a stock that hedge funds had ignored, as they were betting on a video game retailer to go bankrupt. However, in January 2021, due to a &#8220;short squeeze,&#8221; GameStop&#8217;s stock prices surged by 1,500% as retailers jumped on board, causing the stock to reach around $81.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Will Dogecoin Mirror GameStop&#8217;s Rally Of 2021?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The sharp expansion of GameStop in January due to FOMO and retailers banking on a &#8220;meme stock&#8221; bear the same characteristics as the sudden rally of Dogecoin in the first half of 2021. At peaks, Dogecoin soared to as high as $0.78 as support from Elon Musk, the world&#8217;s richest entrepreneur, pumped the coin to record levels. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The CEO of X openly expressed support for DOGE, even appearing on Sunday Night Live (SNL) as the &#8220;Doge Master.&#8221;<\/span><\/p>\n<div class=\"jeg_video_container jeg_video_content\"><\/iframe><\/div>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/maker-mkr\/maker-mkr-rockets-1500-14-surge-continue\/\" target=\"_blank\" rel=\"noopener \">Maker (MKR) Rockets To $1,500 With 15% Surge, Will This Run Continue?<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">Beyond Elon Musk, Dogecoin&#8217;s status as the first meme coin and its alignment with the broader trend of meme stocks rallying in early 2021, driven chiefly by online communities and social media, fueled DOGE prices.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">DOGE prices have since\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.coinlore.com\/coin\/dogecoin\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">cooled off<\/span><\/a><span data-preserver-spaces=\"true\">, falling by over 80% as bears pressed on, reversing the project&#8217;s huge valuations. Even so, supporters remain bullish, expecting the meme coin to recover in the sessions ahead.\u00a0<\/span><\/p>\n<figure style=\"width: 1233px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/62m8g0RW\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/62m8g0RW\/\" alt=\"Dogecoin prices on September 28| Source: DOGEUSDT on Binance, TradingView\" width=\"1233\" height=\"592\"><\/a><figcaption class=\"wp-caption-text\">Dogecoin prices on September 28| Source: <a href=\"https:\/\/www.tradingview.com\/x\/62m8g0RW\/\" target=\"_blank\" rel=\"noopener nofollow\">DOGEUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">It remains to be seen if Elon Musk will continue tweeting frequently about DOGE. The billionaire is being\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.theguardian.com\/technology\/2023\/jun\/01\/elon-musk-insider-trading-dogecoin-lawsuit\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">sued<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0in New York for allegedly promoting Dogecoin as a &#8220;get-rich-quick&#8221; scheme. The lawsuit claims that Musk, Tesla, and SpaceX were involved in a &#8220;racketeering conspiracy&#8221; to support DOGE.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire investor Ryan Cohen has been\u00a0appointed as the new Chief Executive Officer (CEO) of GameStop, a brick-and-mortar video game retailer in the United States, a move that could potentially impact Dogecoin. GameStop&#8217;s stock and the Dogecoin price have shown signs of correlation. Before assuming this role, Cohen had been the Executive Chairman of GameStop since January 2022 and remained the largest shareholder. The experienced investor takes over in what analysts said is an attempt by the board to turn around the fortunes of the public company. Pro-GameStop Billionaire Takes Over As CEO In this role, Cohen takes over as the President, Chief Executive, and Chairman of GameStop, representing a move to overhaul and possibly revive the company&#8217;s leadership structure. While he assumes several positions, reports indicate that the billionaire won&#8217;t receive a salary.\u00a0 Following news of Cohen&#8217;s announcement, GameStop prices surged 10%. Analysts interpret this expansion as confidence in the experienced investor&#8217;s capability and even genuine commitment to sparking a turnaround following challenges in 2022 and the shifting landscape that has seen sales in brick-and-mortar stores fall.\u00a0 Related Reading: Research Firm Reveals Its \u201cAltcoin Trading Playbook\u201d The appointment is bullish for GameStop because Cohen is one of the largest shareholders. From September 2020, the billionaire started accumulating aggressively through to December 2020.\u00a0 The billionaire publicly supported a stock that hedge funds had ignored, as they were betting on a video game retailer to go bankrupt. However, in January 2021, due to a &#8220;short squeeze,&#8221; GameStop&#8217;s stock prices surged by 1,500% as retailers jumped on board, causing the stock to reach around $81. Will Dogecoin Mirror GameStop&#8217;s Rally Of 2021? The sharp expansion of GameStop in January due to FOMO and retailers banking on a &#8220;meme stock&#8221; bear the same characteristics as the sudden rally of Dogecoin in the first half of 2021. At peaks, Dogecoin soared to as high as $0.78 as support from Elon Musk, the world&#8217;s richest entrepreneur, pumped the coin to record levels. The CEO of X openly expressed support for DOGE, even appearing on Sunday Night Live (SNL) as the &#8220;Doge Master.&#8221; Related Reading: Maker (MKR) Rockets To $1,500 With 15% Surge, Will This Run Continue? Beyond Elon Musk, Dogecoin&#8217;s status as the first meme coin and its alignment with the broader trend of meme stocks rallying in early 2021, driven chiefly by online communities and social media, fueled DOGE prices. DOGE prices have since\u00a0cooled off, falling by over 80% as bears pressed on, reversing the project&#8217;s huge valuations. Even so, supporters remain bullish, expecting the meme coin to recover in the sessions ahead.\u00a0 It remains to be seen if Elon Musk will continue tweeting frequently about DOGE. The billionaire is being\u00a0sued\u00a0in New York for allegedly promoting Dogecoin as a &#8220;get-rich-quick&#8221; scheme. The lawsuit claims that Musk, Tesla, and SpaceX were involved in a &#8220;racketeering conspiracy&#8221; to support DOGE. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":548260,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[1785,7,8375,83571],"class_list":["post-553440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-doge","tag-dogecoin","tag-elon-musk","tag-gamestop"],"acf":[],"yoast_head":"\n<title>Billionaire Takes Over As GameStop CEO, Bullish For Dogecoin?<\/title>\n<meta name=\"description\" content=\"Ryan Cohen is now the CEO of GameStop. 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. You can connect with Dalmas on X: @Dalmas_Ngetich, or contact him on Telegram @Dalmas_Ngetich.","sameAs":["https:\/\/www.linkedin.com\/in\/dalmas-ngetich-40a67a147\/","https:\/\/x.com\/Dalmas_Ngetich"],"url":"https:\/\/wncen.com\/author\/dalmasngetich\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Billionaire Takes Over As GameStop CEO, Bullish For Dogecoin?","url":"http:\/\/wncen.com\/news\/dogecoin\/gamestop-billionaire-ceo-bullish-dogecoin\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/dogecoin\/gamestop-billionaire-ceo-bullish-dogecoin\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/kanchanara-r9dG85a7E_U-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/kanchanara-r9dG85a7E_U-unsplash.jpg?fit=6048%2C4024"},"articleSection":"Dogecoin","author":[{"@type":"Person","name":"Dalmas Ngetich"}],"creator":["Dalmas Ngetich"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["doge","dogecoin","elon musk","gamestop"],"dateCreated":"2023-09-29T01:00:23Z","datePublished":"2023-09-29T01:00:23Z","dateModified":"2023-09-29T01:00:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Billionaire Takes Over As GameStop CEO, Bullish For Dogecoin?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/gamestop-billionaire-ceo-bullish-dogecoin\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/dogecoin\\\/gamestop-billionaire-ceo-bullish-dogecoin\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/kanchanara-r9dG85a7E_U-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/kanchanara-r9dG85a7E_U-unsplash.jpg?fit=6048%2C4024\"},\"articleSection\":\"Dogecoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Dalmas Ngetich\"}],\"creator\":[\"Dalmas Ngetich\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"doge\",\"dogecoin\",\"elon musk\",\"gamestop\"],\"dateCreated\":\"2023-09-29T01:00:23Z\",\"datePublished\":\"2023-09-29T01:00:23Z\",\"dateModified\":\"2023-09-29T01:00:23Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/kanchanara-r9dG85a7E_U-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553440"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/384"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=553440"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/553440\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/548260"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=553440"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=553440"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=553440"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}