Memecoins
Cat cryptocurrency will follow 70% of the stock pump of the “Roaring Kitty” meme.
Roaring Kitty, the Reddit WallStreetBets investor/analyst who led an explosive stock meme rally for Gamestop stock in January 2021 (sub $1 to $81 dollars), just posted on X.com for the first time since it was still Twitter nearly three years ago, awakening the sleeping meme crowd and sending Gamestop (NYSE:GME) shares soaring 70% on Monday.
Will altcoin cats like Ethereum’s PopCat ($POPCAT), Catcoin ($CAT), and Kai Cat ($KAI) follow suit and rally on Gamestop’s wave?
Cat meme leads dogs in coin charts
PopCat grew more than 16% in just 24 hours after Roaring Kitty update: A meme of a gamer frowning and leaning forward in his chair while pushing the thumbsticks of his game controller forward. Kai Cat is still on pre-saleso its price has not yet moved in the news and $KAI tokens are still available at the pre-market price below $0.005.
In 2021, the meme stock rally that took 81x’d Gamestop stock in a matter of days caused meme investors to earn such huge gains in such a short time frame that it attracted the attention of the SEC and of the Secretary of the Commonwealth in Roaring Kitty’s home state. The state regulator asked the SEC to suspend trading in Gamestop because the price was “irrational.”
In October 2021, the Securities and Exchange Commission released a 45-page report stating that “people may disagree about the prospects for GameStop and other meme stocks,” but without concluding that any market manipulation had occurred .
GameStop Inspires Meme Coin Investors
Meme coin traders in the cryptocurrency trading markets must have been encouraged by the SEC’s tacit approval for meme investing in the case of Gamestop, because Dogecoin launched over 6,400% from less than a cent per DOGE in January of that year. year to $0.64 per coin by May.
The huge and sudden gains seen in the Gamestop frenzy have spurred a conversation on investing pages about what a “meme stock” is, which Business Insider concluded it was pretty much just a popular title.
Since then, “totally degenerate” investors have fearlessly invested their earnings in Bitcoin, Ether, Cardano and Ripple into meme coins such as DOGE, SHIB, FLOKI and BONK, gaining or losing percentages unheard of in the investment world depending on when they have invested in these cryptocurrency success stories.
A reason to check out the Ethereum coin $KAI
Investors who purchased meme tokens from cryptocurrency exchanges during the peak price cycle lost their money to those who bought early in the game. That’s why cryptocurrency “degens” tell novice investors to do their research and learn how supply/demand economics and liquid trading markets work, as well as the ins and outs of cryptocurrencies.
Another way cryptocurrency investors in the blockchain sector are aiming for massive gains from the meme segment is to be afraid to buy when a coin rises by “irrational” percentages and to be eager to buy after a coin’s price comes back to earth and to invest in new projects before they recover. .
PopCat, for example, has already rose +3,400% in Q1 2024, so it could happen again. KaiCat, another Ethereum meme coin favored by internet cats, is a new project in its pre-market phase. So far everything raised over $230,000 into ETH and BNB tokens from meme coin investors.
Stay connected with KAI on social media: X | Telegram
Disclaimer: This is a paid version. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of the information available in such content. Do your research and invest at your own risk.