- Over the previous week, the prices of three meme coins inspired by Roaring Kitty increased by triple digits.
GME, KITTY, and ROAR whipsawed over 100%, according to CoinGecko statistics, despite a minor drop in the meme coin market cap overall.
Although there is no formal relationship between the three tokens and GameStop trader Keith Gill, the original meme stock champion, it appears that the tokens have benefited from their links. As of Friday, the weekly gains for GME, KITTY, and ROAR are 445%, 817%, and 107%, respectively.
GameStop, a retailer of video games, and GME have the same ticker, and KITTY is modeled off Gill’s Roaring Kitty online persona. While ROAR is hosted on Ethereum, the second-largest blockchain in cryptocurrency, both coins are based on Solana.
Bold Kitty’s reappearance
In 2021, Gill rose to fame by organizing support for GameStop (GME). The video game retailer’s stock price was far lower than its all-time highs at the time, making it difficult for it to stay relevant amid a short squeeze.
The investor disappeared from view until last year, when he reappeared on social media with a number of messages about X. Gill, a GME investor, revealed his holdings in GME stock and options on Reddit as a result of the meteoric rise in cat-themed meme coins following his return.
Despite a 28% decline in GameStop’s stock price that day, Gill’s GameStop portfolio was worth at over $500 million at the time of publication. The company’s first-quarter financial report showed a dramatic fall in revenues of 29%.
Gill’s position may be worth $1 billion if GME stock increases to $65 a share. In addition, Gill is doing her first YouTube Live broadcast in three years.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
