Solana

GameStop

Memecoin

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 <p>An altcoin inspired by the Gamestop (GME) short-squeeze frenzy of 2021 has exploded over 2,000% after the movement’s leader made an internet appearance for the first time in nearly three years.</p>
 <p>Keith Gill, who pseudonymously goes as “Roaring Kitty” on the social media platform X, posted a gamer meme early on Monday, and has since posted several other videos.</p>
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 <p>The posts are Gill’s first since mid-2021 when he led the movement to pump the price of GME, causing several large institutions that were short the stock to lose money.</p>
 <p>Since the posts, GME has skyrocketed. At time of publishing, it is currently up over 85% in a single day.</p>
 <figure id="attachment_288690" aria-describedby="caption-attachment-288690" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="wp-image-288690 size-full" src="https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp" alt="" width="1024" height="https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp" srcset="https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp 1468w, https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp?resize=300,https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp 300w, https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp?resize=768,https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp 768w, https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp?resize=1024,https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp 1024w, https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp?resize=750,https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp 750w, https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp?resize=1140,https://cdn.thebittimes.com/images/2024/05/14/81546183b84f9403dc1ebfc5f179be35.webp 1140w" sizes="(max-width: 1024px) 100vw, 1024px">
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   Source: Google Finance
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 <p>The resurgence of GameStop appears to have spread to digital assets markets as well.</p>
 <p>GME, a memecoin launched on Solana (SOL) in January, has skyrocketed about 2,113% in the last 12 hours alone, currently trading just over a penny after starting the day below $0.00049.</p>
 <p>Giacomo Pierantoni, head of data at hedge fund Vanda Research, told Bloomberg that such spikes in retail trading have historically been “contrarian” signals.</p>
 <p><em>“These surges in retail activity have served as contrarian signals, prompting institutional investors to quickly short the stock following these rallies driven by retail investors.”</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/gamestop-memecoin-on-solana-explodes-2-113-after-movement-leader-roaring-kitty-suddenly-returns-to-x-tbt88215.html">https://thebittimes.com/gamestop-memecoin-on-solana-explodes-2-113-after-movement-leader-roaring-kitty-suddenly-returns-to-x-tbt88215.html</a></p>

Gamestop Memecoin on Solana Explodes 2,113% After Movement Leader ‘Roaring Kitty’ Suddenly Returns to X

TheBitTimes

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