GameStop (gamestopeth.io)

GameStop (gamestop-coin.vip)

Roaring Kitty

GameStop and AMC-themed memecoins saw massive spikes after influencer Keith Gill, better known as Roaring Kitty, made a comeback on X. 
GME (<a href="https://crypto.news/price/gme/" target="_blank">GME</a>), a Solana-based meme coin with no ties to the American video game company, surged over 70% to $0.7672. The rally was accompanied by a 203% hike in its daily trading volume to $51.23 million. 
GME (Ethereum), a similar meme coin on the Ethereum network, also benefited from Gill’s return, surging over 51% to hit an all-time high of $0.0002487 on Dec. 6. However, it has since dropped 21%, according to CoinGecko data. 
Meanwhile, AMC, the meme coin created to mimic AMC Entertainment, a movie theater chain, rallied over 50%, while KITTY and ROAR, meme coins inspired by Gill’s online persona, both jumped over 45%. 
All of the aforementioned meme coins rallied after Gill’s Dec. 6 X post, marking his first post on the platform in three months. The post featured an altered version of a 2006 Time magazine photo illustration that paid homage to YouTube. 
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 <a rel="nofollow" href="https://t.co/tXViICmVFG" target="_blank">pic.twitter.com/tXViICmVFG</a>— Roaring Kitty (@TheRoaringKitty) <a href="https://twitter.com/TheRoaringKitty/status/1864742787197116887?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 5, 2024</a>
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Even though the post did not mention the tokens, the crypto sector has a <a href="https://crypto.news/gamestop-inspired-meme-coin-surges-300-as-roaring-kitty-resurfaces-on-x/" target="_blank">history</a> of responding to Gill’s posts with similar rallies, and this time was no exception. 
 You might also like: <a rel="" href="https://crypto.news/gme-meme-coin-dives-as-gamestop-stock-falls-15-after-earnings/"> GME meme coin dives as GameStop stock falls 15% after earnings </a> 
Gill’s influence on these meme coins <a href="https://crypto.news/who-is-roaring-kitty-and-why-meme-coins-surge-after-his-return/" target="_blank">stems from his role</a> in the 2021 meme stock frenzy, where he became a symbol of retail traders’ uprising against Wall Street short-sellers. Known for his detailed analysis of GameStop’s potential and his viral posts, Gill played a pivotal role in the GameStop short squeeze that saw the stock skyrocket to over $81. 
These gains come as the cryptocurrency sector seems to be pivoting towards <a href="https://crypto.news/bitcoin-breaks-100k-whats-next/" target="_blank">altcoin season</a>, as evidenced by the Altcoin Season Idex, which recently hit an all-time high of 87. An index score above 80 typically signals the onset of altcoin season. 
However, investors need to be cautious as these gains are often short-lived. In May, the GME token <a href="https://crypto.news/kitty-token-surges-8000-amid-gamestop-investors-roaring-kitty-comeback/" target="_blank">rose</a> from $0.0035 to $0.029 after Roaring Kitty’s return, only to erase all those gains within a few days. It dropped to a record low of $0.0017 in August. 
Similarly, in September, these tokens <a href="https://crypto.news/gme-and-kitty-tokens-form-god-candles-but-gains-could-be-brief/" target="_blank">rallied</a> following Gill’s X post but lost almost all of the gains in a little over a week as the excitement waned. 
Beyond the crypto space, Gill’s return pushed GameStop (GME) shares over 16% on the day, reaching a high of $30.87 before settling at $28.60, while AMC Entertainment (AMC) recorded a 12% jump to $5.55, according to Google Finance data. 
 Read more: <a rel="" href="https://crypto.news/roaring-kitty-faces-class-action-lawsuit-over-alleged-gamestop-stock-manipulation/"> ‘Roaring Kitty’ faces class-action lawsuit over alleged GameStop stock manipulation </a>

Meme coins GME, AMC, ROAR rally as GameStop trader Keith Gill returns to X

crypto.news

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