The roaring success of three memecoins, GME, KITTY, and ROAR, has taken the crypto market by storm over the past week. Despite a slight decrease in the overall memecoin market cap, CoinGecko data reveals that these tokens have seen significant triple-digit price increases. GME, KITTY, and ROAR have surged by 445%, 817%, and 107%, respectively, in just a week.
These memecoins have attracted attention due to their associations with GameStop trader Keith Gill, also known as Roaring Kitty. Gill gained notoriety for rallying support behind GameStop during a short squeeze in 2021. Although there is no official affiliation between Gill and these memecoins, investors seem to be drawn to them due to their connection to the memestock champion.
GME and KITTY, both Solana-based tokens, have seen a massive surge in value thanks to their ties to GameStop and Gill. Meanwhile, the ROAR token, living on Ethereum, has also experienced substantial growth. Gill recently made a comeback on social media, disclosing his GameStop stock and options positions on Reddit, leading to a surge in popularity for these memecoins.
Despite a 28% dip in GameStop’s stock price, Gill’s GameStop portfolio is still valued at over $500 million. If the stock rises to $65 per share, Gill’s position could reach a staggering $1 billion. In addition to his investment success, Gill is set to host a YouTube Live stream for the first time in three years, with over 78,000 people eagerly awaiting the event, scheduled for 4 PM UTC.
Overall, the success of GME, KITTY, and ROAR highlights the growing influence of memecoins in the crypto market. As investors seek opportunities for high returns, these tokens provide a unique and exciting investment option with ties to popular figures like Roaring Kitty and GameStop. With the continued popularity of memecoins and the resurgence of Gill in the investment community, the future looks bright for these tokens and the individuals behind them.
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