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- Recent tweet from Keith Gill incites price jumps for GameStop (GME), pet-themed memecoins, and related stocks.
- Significant market movements observed with dog-themed memecoins rising 2.2% and cat-themed memecoins surging 16.2%.
- Keith Gill’s tweets continue to exert considerable influence on related stocks and digital assets.
A fresh Keith Gill tweet rattled the markets, catapulting dog-themed and cat-themed memecoins to new heights as pet-related stocks experience notable gains.
Keith Gill Sparks Market Movement
Retail investor Keith Gill, known as Roaring Kitty, is famous for his impactful tweets that often move the needle on GameStop (GME) shares and influence the GME-inspired Solana (SOL) memecoin. This time, Gill’s tweet caused a ripple effect across a broader spectrum, including shares of GME and various pet-themed memecoins and stocks.
A Cryptic Dog Tweet
On June 27, Keith Gill posted a cryptic tweet featuring a cartoon image of a dog, which lacked any caption. This simple image was enough to stir significant excitement in the market.
Following this tweet, the market capitalization of dog-themed memecoins surged to $36 billion, marking a 2.2% increase within 24 hours. In contrast, cat-themed memecoins saw an even larger jump of 16.2%, reaching a market cap of $2.4 billion.
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Widespread Impact on Stocks
Beyond the realm of digital currencies, pet-related stocks like Chewy, Inc. and PetMed Express, Inc. also witnessed substantial gains, though these were short-lived. GameStop’s (GME) shares, more predictably, sustained their rise, appreciating by 3.68% at the time of reporting.
Mirroring GME’s performance, the related GME memecoin surged by 14.57% in the past 24 hours. Technical indicators, such as the Relative Strength Index (RSI), confirmed the bullish trend with values remaining above the neutral threshold on the 4-hour chart.
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Unexpected Outcomes
Interestingly, despite the buzz around dog-themed memecoins, market leaders like Dogecoin (DOGE) and Shiba Inu (SHIB) only saw modest gains of 3.4% and 1.2%, respectively. Conversely, top cat-themed memecoins, Mog Coin (MOG) and Michi (MICHI), experienced dramatic increases of 25.9% and 38.65%, respectively.
Further analysis from COINOTAG, utilizing data from Santiment, indicated positive sentiment surrounding these four memecoins, as evidenced by their RSI trends.
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Conclusion
Keith Gill’s social media activity continues to wield significant influence over both traditional stocks and the burgeoning world of memecoins. With both dog-themed and cat-themed cryptocurrencies seeing substantial gains, investors are reminded of the volatile yet potentially lucrative nature of this market segment. Moving forward, traders and investors will likely monitor Gill’s online presence closely, anticipating potential market shifts driven by his next tweet.
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