Memecoins
GameStop Rally Takes Roaring Kitty Memecoins to New Highs
Roaring Kitty-themed memecoins have posted huge gains following a surge in GameStop shares over the past 24 hours.
CoinGecko data shows that GME memecoins, KITTEN, and ROAR skyrocketed by 115%, 235%, and 94%, respectively. They are currently trading at $0.02601, $0.0312, and $0.00132.
GameStop shares rose in premarket trading Friday after Keith Gill, known as “Roaring Kitty,” announced his return to YouTube for the first time in three years. Gill had previously mobilized retail investors to support the struggling video game retailer.
🚨🇺🇸BREAKING: ‘ROARING KITTY’ BECOMES A BILLIONAIRE AS GAMESTOP STOCKS RISE
As shares of GameStop ($GME) rise to $67.50 per share in after-hours trading, “Roaring Kitty,” the investor who helped spark the meme stock frenzy, is on the verge of becoming a billionaire.
Self $GME opens at o… https://t.co/VXJMWwFvXW pic.twitter.com/tpwyVytyWE
— Mario Nawfal (@MarioNawfal) June 7, 2024
The Roaring Kitty YouTube channel, which has over 700,000 subscribers, has announced a live stream scheduled for today. Following this announcement, GameStop’s stock price rosenow up 31% in premarket trading at $61.21.
GME is a Solana-based memecoin that shares the same symbol as GameStop stock but has no official connection to the retailer. ROAR and KITTY centers on Gill’s character Roaring Kitty from GameStop’s brief run three years ago, but doesn’t even have any formal connection to him.
Surprisingly, this GME has jumped more than 5500% in the last four weeks, reaching a market capitalization of around $191 million and an average 24-hour trading volume of around $318 million.
Previously, Gill’s return to social media sparked a new meme coin frenzy. The meme coin market had already seen a rally led by Solana-based projects such as Pepe (PEPE) and Floki Inu (FLOKI).
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