Crypto News Today- Solana Meme Tokens Surge, GameStop Shares Skyrocket as ‘Roaring Kitty’ Resurfaces on X

Solana Meme Tokens Surge, GameStop Surges as ‘Roaring Kitty’ Returns on X

Crypto News– A single image shared on Monday ignited rallies in several cat-themed meme coins and GameStop stock (NYSE: GME) as online communities celebrated the apparent return of TheRoaringKitty, the X profile of retail trader Keith Gill, who made his first post since late 2021. Gill posted a meme referencing a period of ‘locking in,’ a term often used to describe intense focus or concentration.

pic.twitter.com/YgjVqtgcNS

— Roaring Kitty (@TheRoaringKitty) May 13, 2024

Users on X and Reddit interpreted the image as a signal to engage more actively in trading. Stocks associated with Gill and other ‘meme stocks‘ experienced significant surges. GME prices rose by as much as 44% in pre-market trading and surged up to 100% upon market open before trading was halted. AMC Entertainment Holdings (NYSE: AMC), a cinema chain, saw a 12% increase in pre-market trading, climbing as high as 30% after the market opened.

Data indicates that in the last 24 hours, developers opportunistically released numerous tokens referencing Gill, TheRoaringKitty, GameStop, and ‘stonks’ – a meme term for stocks.

Who is Roaring Kitty?

Gill’s analysis of the video game retailer GameStop on Reddit, which began in 2019 and gained momentum during the COVID pandemic, became a viral sensation at the time. It was widely credited as a key factor in the GameStop short squeeze of January 2021, as numerous small-time traders united to buy options and leveraged shares of the company. During this period, the stock surged from $4 to over $120 in just a month, reaching thousands of percent higher than its lifetime low of 64 cents in April 2020.

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