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GameStop trader Keith Gill made a return to social media, inspiring a rally in crypto meme coins and “Roaring Kitty” inspired Solana-based meme, ROAR.
Data from CoinGecko shows that the return of the investor who spearheaded 2021’s GameStop rally has fueled gains in dog and cat memes and Solana-based meme coins.
ROAR posts 3,100% gains as Roaring Kitty returns
The euphoria of US stock traders spread to crypto, a meme coin inspired by the legendary trader “Roaring Kitty” has added 3,100% to its value on Monday, as seen on CoinGecko. Gill’s social media post that shows a man leaning forward in his seat while holding a video game controller was interpreted as the trader’s return to day trading.
Dog and cat-themed meme coins like Dogecoin, Shiba Inu, Dogwifhat, Floki, Bonk and Popcat among others have observed an increase in their price on May 13.
Meme coins will relatively small market capitalization piled gains in thousands of percents while tokens with large market cap like DOGE, SHIB, POPCAT rallied up to 20%. Solana-based ROAR has no legitimate affiliation with Roaring Kitty or GameStop, however the token has yielded massive gains for holders.
GameStop (GME) has no affiliation with the video game retailer, the meme coin added 342% to its value on May 13.
Meme coin market cap crossed $54.2 billion on Monday and Messari’s meme coin tracker shows double digit games in most assets in the sector.
Meme coin price gains in 24 hours
Meme coins and WallStreetBets have history
The subreddit /WallStreetBets was at the center of the meme coin frenzy in 2021, where GameStop and AMC Entertainment rallied over 1,000% within a year. This coincides with the time when the largest meme coin in crypto, Dogecoin crossed the $0.50 mark, up from $0.01 in 2021.
Capital from meme stocks likely rotated to meme coins like Dogecoin starting 2021. At the time of writing, DOGE price is $0.150, up 6.79% in the past 24 hours, as seen on Messari.
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