Cat-Themed Cryptos Explode After Roaring Kitty Returns To Ignite A Meme Coin Rally Led By GameStop (GME)

Updated: 14 May 2024

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Cat-themed cryptos surged more than 17% in the last 24 hours after Roaring Kitty, the personality behind the GameStop stock saga in 2021, resurfaced on X to ignite a meme coin rally led by GME.

Biggest cat-themed meme coins by market cap (Source: CoinMarketCap)

Top cat-themed altcoins such as POPCAT, Mog Coin (MOG) and Wen (WEN) soared, with both POPCAT and MOG printing 24-hour gains of more than 30%.

Meme Coin Market Soars After Roaring Kitty Returns

The person behind Roaring Kitty, Keith Gill, is known for his role in the GameStop (GME) saga, which saw Reddit traders overpower hedge funds that were profiting from short bets against the game store.

This led to the GME price soaring over 1,000% in less than a month. It also resulted in a substantial short squeeze, which many believe laid the groundwork for a massive surge for leading meme coins Dogecoin (DOGE) and Shiba Inu (SHIB) after retail traders shifted focus.

After going dark on social media on June 19, 2021, Gill brought an end to his silence on May 13 with a cryptic tweet of a gamer sitting up in his chair, possibly signaling his comeback.

The market reacted positively to the return of the analyst, with GameStop shares rallying as much as 111% within the 24 hours after the post.

pic.twitter.com/YgjVqtgcNS

— Roaring Kitty (@TheRoaringKitty) May 13, 2024

The meme coin market also pumped shortly after the tweet was published, pushing the capitalization of the light-hearted crypto sector up more than 8% in the past 24 hours to above $53 billion as of 3:20 a.m. EST.

A Potential GameStop 2.0?

Following Gill’s return, investors are anticipating a potential GameStop 2.0, which could trickle over to the meme coin sector. This ignited an investor frenzy and a subsequent buying spree, with leading meme coins DOGE, SHIB, PEPE, WIF, and FLOKI all recording strong gains.

Largest meme coins by market cap (Source: CoinMarketCap)

Opportunistic developers also tried to capitalize on Gill’s return, with a slew of tokens referring to the infamous GameStop personality entering the market over the past 24 hours. These include TheRoaringKitty, Stonks, and GameStop.

Wolverine-themed meme coins flooded the market as well. More than 30 new tokens went live on pump.fun following Gill’s tweet. A bunch of these cryptos were launched on Ethereum and Solana, Dextools data shows.

This renewed interest in the meme coin sector could also bode well for ICOs, especially hot meme coin presales like WienerAI, Dogeverse, and Sealana.

DOGEVERSE stands out after a blowout presale that’s raised more than $15 million. Its developer is now offering investors a last chance to buy.

Sealana is a more recent ICO on Solana that’s already raised close to $1 million, while Wiener AI has raised close to $2 million as it mines two of the hottest niches in crypto: meme coins and AI.

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