Solana
Gamestop Memecoin on Solana Explodes 2,113% After Sudden Return of ‘Roaring Kitty’ Movement Leader on X
An altcoin inspired by the Gamestop (GME) short-squeeze frenzy of 2021 has exploded more than 2,000% after the movement’s leader made an appearance on the internet for the first time in nearly three years.
Keith Gill, who goes by the pseudonym “Roaring Kitty” on the social media platform job a gamer meme early Monday, and has since posted several other videos.
The posts are Gill’s first since mid-2021, when he led the push to raise the price of GME, causing several large institutions that were short the stock to lose money.
Since these releases, GME has skyrocketed. At the time of publication, it is currently up over 85% in a single day.
Source: Google Finance
GameStop’s resurgence also appears to have spread to digital asset markets.
GME, a memecoin launched on Solana (GROUND) in January, has soared approximately 2,113% in the last 12 hours alone, currently trading just over a penny after starting the day below $0.00049.
Giacomo Pierantoni, head of data at hedge fund Vanda Research, said Bloomberg that such spikes in retail have always been “contrarian” signals.
“These increases in retail activity served as contrarian signals, prompting institutional investors to quickly sell stocks following these retail investor-driven rallies.”
Don’t miss anything – Subscribe to receive email alerts directly to your inbox
Check Price action
follow us on X, Facebook And Telegram
Surf The Hodl Daily Blend
& nbsp
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock/Natalia Siiatovskaia/WindAwake