Memecoins take advantage of GameStop rally as ‘Roaring Kitty’ returns to YouTube – DiarioBitcoin
By Hannah Perez
Tokens using the name GameStop and Roaring Kitty have skyrocketed in price in line with a meteoric rally in GME shares on the traditional stock market. Keith Gill announced his return to streaming on Thursday.
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- GME, KITTY and ROAR tokens soar in price amid rise in GameStop shares
- GameStop shares closed Thursday with a gain of more than 45%
- The latest frenzy of meme shares was sparked by the announcement of Roaring Kitty’s return to YouTube
A token based on Solarium which uses the stock symbol GameStop has been benefiting from the astonishing rise in the price of that company’s shares in the US market.
The actions of GameStop (GME) closed Thursday up 47% after trader Keith Gill, better known by his alias “Roaring Kitty” either “DeepF–kingValue“, will reveal plans to reappear on YouTube.
Gill announced that he would make his first YouTube live streaming in three years this Friday, while a screenshot posted on Reddit reveals that his stock and options position is now worth about $586 million.
Gill is known for helping fuel the meme stock bull rally in 2021. He rose to fame during the COVID-19 pandemic for sharing his risky bet on GameStop through messages, memes and video broadcasts, through which he inspired hundreds of retailers to invest in the struggling video game chain.
The GME token, which leverages the company’s stock symbol, has benefited from the latest price surge. Based on Solarium, GME has soared more than 80% in the last 24 hours. The cryptocurrency reached an all-time price high of USD $0.03 early Friday in what has been a meteoric jump of 500% in the week.
It’s not the only one memecoin who is gaining from the rise of GameStop in the traditional market. Another cryptocurrency that also uses the same GME symbol, but based on Ethereumhas also seen similar price action, rising nearly 90% on the day and almost 1,000% in the last week, as data from CoinMarketCap.
Several tokens inspired by the internet figure behind all the fuss have also emerged. Tokens that use the name ““Roaring Kitty” under the trading symbols ROAR, KITTY and STOCKS, are up 50%, 185% and more than 200%, respectively, in the last 24 hours, according to data from CoinGecko.
GameStop jumps on Roaring Kitty return
None of the tokens mentioned appears to have some affiliation with Gill or the video game company.
Character “Roaring Kitty” sparked upheaval on Wall Street last month after posting his first social media messages in nearly three years. The actions of GameStop They soared to $48.7 on May 14, hitting a 2021 high, and have gained 3,000% since the middle of last month, surpassing a market capitalization of $120 million.
The actions of GameStop continued higher in pre-market trading on Friday, at one point touching the $65.8 area, according to data from Google Finance. At those prices, Gill’s position would be valued at $1 billion, as noted Decrypt.
Article by Hannah Estefanía Pérez / DailyBitcoin
Picture of Unsplash
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