Cryptocurrencies tied to Keith Gill, aka Roaring Kitty, witnessed a massive spike overnight on Wednesday after the legendary trader dropped a Rick James-themed GIF.
What happened: The post showed comic icon Dave Chappelle impersonating star musician James, although its market reference was not immediately clear. But that hardly mattered to cryptocurrency degens.
Solana (CRYPTO: SOL)-based meme coin GmeStop (GME) spiked over 13% in the last 24 hours, while BNB Chain (CRYPTO: BNB)-based GameStop Coin (GME) exploded 328%, data from CoinMarketCap revealed.
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These coins were themed around GameStop Corp. (NYSE:GME), the meme stock at the center of Roaring Kitty’s historic short squeeze of 2021.
Even coins labeled around the word Kitty benefitted, with Solana-based Kitty AI rallying over 6% in the 24-hour period.
|
Cryptocurrency |
Gains +/- |
Price (Recorded at 10 p.m. ET) |
|
GameStop Coin (GME) |
+328.20% |
$0.002759 |
|
GmeStop (GME) |
+13.03% |
$0.004094 |
|
Kitty AI (Kitty) |
+6.01% |
$0.0003319 |
It should be noted that these meme coins have no fundamental ties to GameStop or Roaring Kitty but are just playing on the speculations of a short squeeze of the meme stock and a possible repetition of the 2021 event.
Roaring Kitty returned to social media in 2024 after a three-year hiatus and has been sporadically posting through his X account. His posts have invariably moved the stock and the cryptocurrency markets.
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This article Roaring Kitty’s Rick James-Themed Post Triggers 300% Rally In GameStop Coin, Kitty-Labeled Cryptos Spike originally appeared on Benzinga.com
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