Solana

GameStop

Roaring Kitty

Chewy

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
The price of the meme cryptocurrency Chewy (CHWY) on the&nbsp;<a href="https://u.today/xrp-to-skyrocket-next-week-ethereum-eth-not-losing-3370-will-solana-sol-reach-150-again" rel="noopener noreferrer nofollow">Solana</a> blockchain has surged over 1,500% in the past 24 hours. Data from&nbsp;<a href="https://dexscreener.com/solana/4wjdpwtaeuk76aa8fy3gajjct1mxgl61eb84uwbontxa" rel="noopener noreferrer nofollow">DEX Screener</a> shows that CHWY's capitalization is approaching $10 million after this unexpected spike.
CHWY, which launched on June 27, has had a dramatic run. It first soared over 13,500%, then dropped 96% and has now pumped 15 times.&nbsp; <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="189cf8b7-6142-461a-b0c4-f0a2f67ecbc5" src="https://u.today/sites/default/files/inline-images/dexscreener.com_CHWY_SOL_2024-07-01_18-31-39.png">Source: <a href="https://www.tradingview.com/x/EZFAGmS2/" rel="noopener noreferrer nofollow">TradingView</a>
The latest pump, however, has a clear catalyst: Keith Gill, known as Roaring Kitty, disclosed a 6.6% stake in Chewy Inc. in a new SEC filing. Gill gained notoriety for his role in the 2021 GameStop short squeeze. For the record, Chewy is an online retailer specializing in pet food and products.
<h2 dir="ltr" id="coincidence-or-not">Coincidence or not?</h2>
Interestingly, Gill posted a&nbsp;<a href="https://x.com/TheRoaringKitty/status/1806371920495186041" rel="noopener noreferrer nofollow">photo</a> of a cartoon dog on a blue background on a social media platform X three days before the meme token pump. Coincidentally, the Solana meme character Chewy appeared around the same time.&nbsp;
<blockquote>
 <a href="https://t.co/jQBMX4jwjR" rel="noopener noreferrer nofollow">pic.twitter.com/jQBMX4jwjR</a>— Roaring Kitty (@TheRoaringKitty) <a href="https://twitter.com/TheRoaringKitty/status/1806371920495186041?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 27, 2024</a>
</blockquote>
Gill did not mention the pet food company of the same name in his post, which leaves room for speculation about the coincidence or possible manipulation behind this spike in CHWY's value.
Adding to the intrigue, news of a class-action lawsuit against Gill over the GameStop options deal casts a shadow over this development.&nbsp;
The combination of Gill's social media activity and his&nbsp;<a href="https://u.today/is-xrp-security-sec-veteran-and-xrp-advocate-sort-out" rel="noopener noreferrer nofollow">SEC</a> filing has fueled the sudden interest in the CHWY token, raising questions about the influence of the popular financial influencer on the market.

Solana Meme Coin Skyrockets 1,500% After 'Roaring Kitty' Reveals This

Spis treści

U_Today

Inne artykuły opublikowane 1 lip 2024

After Bitcoin drops below $60,000 twice in a week, what’s next?

Analyst Predicts Ethereum ETF Launch In Early July

Amid Cardano’s Woes And AAVE’s Unrealistic Ambitions, Will Qubetics Whitelist Win The Crypto Race?

Nostra CEO Steps Down Just Days After Token Launch Raises Res

MoonBag Presale Soars High, Leaving Shiba Inu ($SHIB) and Notcoin ($NOT) in the Dust

Will the Rise in Bitcoin Continue? Analysts Announce Critical Resistance for BTC!

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!