GameStop Q1 earnings do not deter Roaring Kittythemed memecoins
In the past week, three memecoins inspired by Roaring Kitty have seen significant price increases, with GME, KITTY, and ROAR all surging by over 100%. Despite a slight dip in the overall memecoin market cap, data from CoinGecko shows these three tokens making impressive gains.
The tokens, GME, KITTY, and ROAR, have been linked to GameStop trader Keith Gill, although there is no official connection to the original memestock champion. As of Friday, GME has seen a 445% increase, KITTY an 817% surge, and ROAR a 107% rise over the past week.
GME shares the same ticker as the video game retail company GameStop, while KITTY is modeled after Gill’s Roaring Kitty online persona. Both GME and KITTY are built on Solana, while ROAR operates on Ethereum, the second-largest blockchain in the crypto world.
Keith Gill gained notoriety for supporting GameStop during the 2021 short squeeze, when the company was struggling to stay relevant as its stock prices plummeted. After a period of absence, Gill made a comeback on social media, sparking a surge in cat-themed memecoins. He also disclosed his GME stock and options positions on Reddit, revealing a portfolio worth over $500 million despite a 28% drop in GameStop’s stock price.
If GME’s stock reaches $65 per share, Gill’s holdings could potentially hit $1 billion. Additionally, Gill is set to host a YouTube Live stream for the first time in three years, with over 78,000 people already in the waiting room ahead of the event scheduled for 4 PM UTC.
In other news, ROAR has experienced a 300% spike following Roaring Kitty’s GameStop announcement.
