• Roaring Kitty’s return sparked a surge in meme coin prices and a spike in GameStop stock
• Lesser-known meme coins like MOG Coin, Popcat, and Book of Meme dominated the top gainers list, while popular ones like Dogecoin, Shiba Inu, Pepe, and Floki also saw substantial gains
• The GameStop token on Solana with the GME ticker skyrocketed by 1,900% in the past 24 hours, with one trader making over $500,000 from buying it after Roaring Kitty resurfaced
Roaring Kitty, also known as Keith Gill, unexpectedly returned to social media on May 13, 2022. His posts included cryptic memes and videos implying he was ready to engage in the markets again. This immediately ignited a frenzy in meme coins and GameStop stock.
GameStop Stock Surges Over 100%
After Roaring Kitty’s posts, GameStop shares surged by over 100%, according to Kobeissi Letter. GameStop added $6 billion in market cap and became one of the top 600 largest public companies in the US.
Meme Coins See Notable Gains
In addition to GameStop, many meme coins saw substantial gains following Roaring Kitty’s return. Lesser known meme coins like MOG Coin, Popcat, and Book of Meme dominated the top gainers list for the day. More popular meme coins like Dogecoin, Shiba Inu, Pepe, and Floki also saw significant increases.
The GameStop token on Solana with the ticker GME skyrocketed 1900% in 24 hours. According to Arkham Intelligence, one trader made over $500,000 in profits from the surge.
Analysts Predict ‘Cat Meme’ Season
Crypto analyst Lookonchain believes the upcoming meme coin season will be cat-themed. Roaring Kitty’s latest videos mentioned “The Dog Days are Over” and showed images of cats. Lookonchain points to increased whale activity in cat-themed meme coins like Popcat, Maneki, and Kitty as evidence for this prediction.
Conclusion
Roaring Kitty’s unexpected return to social media ignited a frenzy in meme assets like GameStop stock and lesser known meme coins. Analysts believe this could indicate the start of a new meme coin season, particularly around cat-themed meme coins. It will be interesting to see if the surge in these assets continues in the coming days and weeks.
