Tokenized stocks are common in the crypto market; however, stocks-themed tokens are new since very few tokens use stock names.

But this might change as the hype around Roaring Kitty comes back, prompting new meme developers to create tokens based on assets that previously rose in the 2021 short-squeeze era.

One of those tokens is AMC, a meme token with the same name as the stock that went up in the 2021 bull market. 

This article will discuss the AMC Stock and token and whether the token will move similarly to the stock itself. 

How did the AMC Stock Perform in 2021?

AMC is the stock of AMC Entertainment Holdings, Inc. (AMC), an American movie theater chain that faced severe challenges before 2021 due to the COVID-19 pandemic. 

Theaters were closed, major film releases postponed, and revenue plummeted, pushing the company to the brink of bankruptcy.

However, 2021 saw a dramatic turnaround as AMC became a key player in the "meme stock" phenomenon. 

Retail investors, primarily from online forums like Reddit's WallStreetBets, rallied around heavily shorted stocks, including AMC. 

This coordinated buying pressure led to a massive short squeeze, driving the stock price to unprecedented heights.

In January 2021, AMC's stock was trading below $5 per share. By June, fueled by the meme stock frenzy, it soared to over $72, marking an increase of more than 1,400%. 

This surge was largely detached from the company's fundamentals, as AMC's theaters were still affected by pandemic restrictions.

The meteoric rise was short-lived, and the stock price experienced a sharp decline in the following months. 

Nevertheless, the overall gains in 2021 were substantial, with the stock closing the year at a significantly higher value than its starting point.

Post-2021, AMC's stock has continued to be volatile, influenced by factors such as the gradual recovery of the movie theater industry, the company's financial strategies, and continued retail investor interest. 

Although it has not reached the highs of 2021, the stock has seen intermittent surges and declines.

On May 13, 2024, AMC stock experienced a notable uptick, rising by 8%. This was attributed to the return of "Roaring Kitty," also known as Keith Gill, a prominent figure in the 2021 meme stock craze. 

Gill's reappearance on social media sparked renewed enthusiasm among retail investors, temporarily boosting the stock price. 

However, this surge doesn't necessarily reflect any fundamental change in the company's financial standing or long-term prospects.

Overall, AMC's stock performance in 2021 was marked by extraordinary volatility and speculative trading, mainly driven by retail investor movements rather than company performance. 

The legacy of this tumultuous year continues to impact the stock's behavior, underscoring the influence of social media and collective investor action on market dynamics.

Will the AMC Token Follow the Price Surge?

The AMC Token is not new; it has been launched since January 2024, when it went up one day but came down the next. 

Since then, the token has been stagnating in a long consolidation zone. However, since the hype of Roaring Kitty and WallStreetBets came back yesterday, the token has been going up by more than 5,000%, which means that if the trend continues, it can follow AMC Stock’s lead. 

Currently, the token has around $841,000 in locked liquidity and $28.2 million in transaction volume.

This means that it will be hard for the token to go down to zero and for the team to abandon the project, as the locked liquidity seems to be greater than that of most new meme tokens in the market. 

The AMC Token currently has a market capitalization of $13.7 million, more than 16,000 holders, and 55,000 transactions. 

There is more buying volume than selling as the holders count currently includes around 9,000 buyers with a buying volume of $14.2 Million and 7,000 sellers with a selling volume of $13.9 Million. 

There are currently 30,000  buying and 25,000 selling transactions, which means the token might still have more room to go up. 

AMC’s Daily Chart / Source: Dexscreener

Compared to the stock, the AMC Token has gone up more than the stock, as the stock itself only went up by 1,400%, and the token has gone up more than 5,000%.

However, considering the nature of meme tokens, it might be possible that the movement of the token can still be considered less than the stock. This means it can go up even higher, especially since the market condition currently supports it. 

As long as AMC can hold its support zone between $0.007188 and $0.01134, the next target will be around $0.03 and $0.05, which is the token's new all-time high. 

The target and support zone are calculated by the Fibonacci Tool. The support zone is in line with the recovery zone of the 61.8% Fibonacci Retracement zone, and the target price is in line with the 161.8% and 261.8% Fibonacci Extension zone. 

Investor Caution 

While the meme hype has been exciting, remember that the crypto space can be volatile. Always conduct your research, assess your risk tolerance, and consider the long-term potential of any investment.

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