In the past day, three meme coins inspired by Roaring Kitty have seen double-digit price increases. According to CoinMarketCap (CMC) data, amidst a modest uptick in the overall meme coin market cap, GME, KITTY, and ROAR have each surged by over 10%.
On Wednesday, GME, KITTY, and ROAR saw gains of 10%, 20%, and 15% respectively, attributed to their associations with GameStop trader Keith Gill, despite lacking official ties to the original meme stock champion. GME shares its ticker with the video game retailer GameStop, while KITTY derives from Gill’s online alias, Roaring Kitty. Both tokens operate on the Solana blockchain, whereas ROAR is Ethereum-based, the second-largest blockchain in the cryptocurrency space.
Keith Gill gained prominence in 2021 for rallying support behind GameStop (GME) during a short squeeze, when the video game retailer’s stock price surged significantly from its previous lows.
The investor remained out of the public eye until this year, resurfacing on social media with a series of enigmatic posts marked with “X.” Following Gill’s return, several cat-themed meme coins experienced significant surges. He also disclosed his positions in GME stock and options on Reddit. On June 7, he conducted his first YouTube livestream in three years.
Gill’s sporadic posts continue to impact the volatility of GameStop and kitty-themed meme coins.
As of the latest update, GME was trading at $0.00636, marking a 10.58% increase over the previous 24 hours according to CMC data. Meanwhile, GameStop stock closed 5.7% higher at $28.54 during Tuesday’s regular trading session.
