Usman Salis
Solana memecoin $GME skyrockets 500% after Roaring Kitty's enigmatic comeback meme on X.
Roaring Kitty's Cryptic Comeback
Legendary trader Roaring Kitty, also known as Keith Gill, breaks his three-year social media silence with a cryptic meme on X, marking his first post since the GameStop saga and the WallStreetBets subreddit shutdown.
The meme portrays a figure leaning forward, holding a smartphone, against a backdrop of a red chair and arrow, suggesting a significant movement or directional shift.
Renowned for catalyzing the GameStop stock surge in late 2020, Gill, a former financial analyst, famously advocated for GameStop as undervalued, triggering a frenzy of retail traders investing in the stock.
With a $53,000 initial investment in GameStop, Gill's social media influence drove the stock's meteoric rise, peaking at $483 per share in January 2021, valuing his holdings at almost $48 million.
Gill's identity was unveiled by Reuters, leading to his congressional testimony regarding GameStop's valuation in February 2021. His story was further immortalized in Netflix's docuseries "Eat the Rich: The GameStop Saga" and Sony Pictures' movie "Dumb Money."
$GME Memecoin Resurgence
In a surprising turn, the Solana memecoin $GME, commemorating the GameStop saga, experiences a staggering 556.43% surge within eight hours of Gill's X post.
The official website of the $GME memecoin highlights its homage to the GameStop controversy, symbolizing collective defiance against institutional power.
Despite the memecoin's sudden surge coinciding with Gill's return to social media, it remains uncertain whether he has any association with the token. CoinGecko data indicates minimal activity in the token's price since its inception in late January.
Conclusion
Roaring Kitty's resurgence with a cryptic meme sparks nostalgia for the GameStop saga and triggers a remarkable surge in the Solana memecoin $GME, echoing the power of collective action against institutional dominance. As speculation swirls around Gill's potential involvement, the memecoin's sudden rise adds a new chapter to the ongoing crypto narrative.
Usman Salis
