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Pepe Jumps 19% to All-Time High Following RoaringKitty Return

source-logo  decrypt.co 14 May 2024 08:45, UTC

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PEPE has hit a new all time high after climbing 19% in the past 24 hours. This comes after Roaring Kitty’s return has seen GameStop and other memes continue to soar.

Financial analyst Roaring Kitty was a central figure to the 2021 GameStop short squeeze which saw the r/WallStreetBets subreddit community attempting to take down hedge funds by purchasing meme stocks. Yesterday, the figure returned to social media after a three year hiatus which saw GameStop double in value and a new meme frenzy begin.

The third largest coin in the meme category, according to CoinGecko, started seeing steady gains due to the meme influencer returning. One of his tweets featured a reimagining of a scene from Gangs of New York with the characters’ skin turned green—just like Pepe the frog. It appears this was bullish for the Pepe community with the token jumping 5.5% in a matter of minutes.


— Roaring Kitty (@TheRoaringKitty) May 13, 2024

Roaring Kitty (also known as Keith Gill) returning also sparked a slew of Solana meme coins to launch, with a Pump.fun record being set. Other meme coins such as Dogecoin, Shiba, and Dogwifhat have also seen significant gains.

After Gill’s Gangs of New York tweet, Pepe traded mostly sideways until Coinbase experienced a “system wide outage” early this morning. This saw Pepe’s price periodically fall before unconfirmed rumors began to circulate that the centralized exchange was preparing to list the meme coin and crashed as a result.

Coinbase did not immediately respond to a request for comment from Decrypt.

Yikes @coinbase crashed while trying to launch spot $PEPE 🐸 pic.twitter.com/kwFELEwUC2

— Muñoz (@CNMunoz) May 14, 2024

“Looks like Coinbase is down for maintenance again! Maybe they are getting everything ready before they list PEPE,” one Twitter user said. “The volume is gonna [be] 10x and they need to prepare.”It’s worth repeating: There are currently no confirmed reports that Coinbase is going to list PEPE. But the mere suggestion has been enough to cause the meme coin to jump 9% to an all-time high of $0.00001096.

Edited by Stacy Elliott.