Having lived through a number of cryptocurrency boom/bust cycles I’ve seen first hand how everyone is coordinated and holding the line...until those who have profit in their sights decide to find a bunch of bag holders to cover their exit. Poof.
Strange statement. Everyone here has lived through the same, you aren't some special snowflake in this regard. Paying more attention than others to the daily price or memes means absolutely nothing in the end.
All the talk of short squeezing and sticking it to the hedge funds and Wall Street aside, they are really basing it on the belief that someone will buy it at a higher price than it is now which will be true until it's not.
Unlike Tesla or Bitcoin which many think are bubbles, this is a case where absolutely no one believes in Gamestop (being a $24 billion company, at least). There's not anyone who thinks holding it forever is a good idea at this price (or even at a fraction of the current price). In these cases when the stock stops going up it implodes very very quickly.
You have a lot of faith in a bunch of people not wanting to realize their profits on a stock that everyone knows is going to tank sooner or later. I'm sure some of them who got in on the run early won't make a dime because they'll hold on too long and then not give up even on the way back down, but some will want to make sure it's real money for them and then this thing is going to go down fast.