- The meme coin market is showing trends similar to the 2021 frenzy period.
- Keith Gill, known on social media as Roaring Kitty or DeepF**kingValue, has updated his personal portfolio.
- Gill’s assets, consisting of stocks and options, now total over half a billion dollars, and he announced a live broadcast on YouTube today.
Discover how Keith Gill’s return to social media has ignited a meme coin resurgence, driving significant market movements.
A Legendary Trader’s Return Boosts Market Activities
Keith Gill, who rose to prominence during the GameStop short squeeze period in the pandemic, has made a notable comeback on social media after a three-year hiatus. This appearance has sparked considerable excitement in the financial markets, particularly among meme coins.
Impact on GameStop Shares and Meme Coins
Following Gill’s announcement, GameStop (GME) shares experienced a remarkable 47% increase. More intriguingly, the indirect influence on meme coins was even more profound. A meme coin using the GME ticker saw a daily rise of 111%, according to CoinGecko, even though it has no direct affiliation with GameStop.
The Surge of Roaring Kitty (KITTY) Coin
The meme coin named after Gill, Roaring Kitty (KITTY), demonstrated an even more dramatic surge. Launched on March 30, 2024, KITTY saw its value skyrocket by 212% within 24 hours, reaching a price of $0.2797. This surge coincided with Gill’s first social media post in three years on May 13, which propelled KITTY’s market capitalization to $30 million in less than 48 hours.
Conclusion
Keith Gill’s reemergence on social media has undeniably jolted both traditional and meme markets. His updated portfolio and social media activity have influenced substantial price movements, primarily within meme coins, reflecting a potent blend of social media power and market speculation. Investors should closely monitor such trends as they highlight the ever-evolving dynamics of financial markets.
