Memecoins
GameStop Trader Roaring Kitty Catalyzes Crypto Meme Coins Rally, ROAR Gains 3,100%
GameStop Trader Roaring Kitty Catalyzes Crypto Meme Coins Rally, ROAR Gains 3,100%
2024-05-13 16:18:46 ET
GameStop trader Keith Gill has returned to social media, inspiring a rally of crypto meme coins and the Solana-based meme, ROAR, inspired by “Roaring Kitty.”
CoinGecko data shows the return of the investor who led the 2021 GameStop rally fueled gains in cat and dog memes and Solana-based meme coins.
ROAR posts gains of 3,100% with the return of Roaring Kitty
US stock traders’ euphoria has spread to cryptocurrencies, as a meme coin inspired by the legendary trader “Roaring Kitty” increased its value by 3,100% on Monday, as seen on CoinGecko. Gill’s social media post showing a man leaning forward for him while holding a video game controller was interpreted as the trader’s return to day trading.
Dog- and cat-themed meme coins such as Dogecoin, Shiba Inu, Dogwifhat, Floki, Bonk, and Popcat, among others, observed an increase in their price on May 13.
Meme coins will accumulate gains of thousands of percentage points with a relatively small market cap, while large market cap tokens such as DOGE, SHIB, and POPCAT are up as much as 20%. Solana-based ROAR has no legitimate affiliation with Roaring Kitty or GameStop, yet the token has produced huge gains for holders.
GameStop (GME) has no affiliation with the video game retailer, the meme coin increased its value by 342% on May 13.
The meme coin market capitalization surpassed $54.2 billion on Monday, and Messari’s meme coin tracker shows double-digit plays in most assets in the sector.
Meme coin price increase in 24 hours
Meme coins and WallStreetBets have a history
The /WallStreetBets subreddit has been at the center of the meme coin frenzy in 2021, where GameStop and AMC Entertainment have rallied more than 1,000% in a year. This coincides with the moment when the largest meme coin in the cryptocurrency space, Dogecoin, crossed the $0.50 mark, up from $0.01 in 2021.
Meme stock capital will likely pivot towards meme coins like Dogecoin starting in 2021. At the time of writing, DOGE’s price is $0.150, up 6.79% in the last 24 hours, as seen on Messari.
The mail
GameStop Trader Roaring Kitty Catalyzes Crypto Meme Coins Rally, ROAR Gains 3,100%
appeared first
Invezz