Following Keith Gill’s return to Reddit, meme stocks like GameStop (GME) and meme coins linked to the GME and Wall Street Bets trend have surged. Known as “Roaring Kitty,” Gill’s resurgence has reignited interest in these assets.
In the last 24 hours alone, cryptocurrencies such as GME and KITTY have recorded gains in the triple digits, reflecting the renewed enthusiasm among investors and traders alike.
Meme Stock Frenzy Rekindles Amid Keith Gill’s Return
In mid-May, the meme stock frenzy surged back to life as Keith Gill, also known as Roaring Kitty, returned to social media. His reappearance sparked a significant rise in stocks like GameStop and AMC, reminiscent of the hype seen in 2021.
However, the revival was short-lived. Just a week after Gill’s posts on X, stocks such as AMC and GameStop experienced sharp declines, dampening the initial excitement generated by his return.
Following these events, Gill resurfaced on Reddit, this time using the alias “Deepf***ingvalue.” His return to the platform suggests ongoing interest and influence within the meme stock community, despite the volatile market movements experienced shortly after his initial social media presence.
Roaring Kitty Revives Meme Stock and GME Meme Coin Craze
Following Roaring Kitty’s return to Reddit, specifically on the r/superstonk subreddit instead of r/wallstreetbets, a screenshot shared by u/deepf***ingvalue revealed substantial holdings in Gamestop call options, totaling $65.7 million. Additionally, Roaring Kitty himself reportedly holds $115 million in GME, although it remains unclear if he fully controls the Reddit account or manages the X account @theroaringkitty.
Simultaneously, meme crypto assets associated with the GME and Roaring Kitty hype have surged significantly within the past day. According to Coingecko data, a cryptocurrency named GME has risen by 221%, while another named KITTY has surged by 298%.
Tokens linked to the Wall Street Bets trend, such as WSB, have seen gains ranging from double to triple digits, with WSB itself skyrocketing by 486% in just 24 hours. Market metrics also indicate that GME stock has increased by 33%, while AMC has risen more than 10% against the U.S. dollar.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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