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Who is Roaring Kitty? GameStop Champion’s Return Spurs the Creation of Soaring Memecoins

Published May 14, 2024 11:13 AM
James Morales
Published May 14, 2024 11:13 AM
By James Morales
Verified by Peter Henn

Key Takeaways

  • Roaring Kitty, aka Keith Gill, helped orchestrate the 2021 GameStop short squeeze.
  • His return to social media on Monday triggered a meme coin rally.
  • Solana-based tokens Kith gil (GIL) and ROAR created in reference to his return have rapidly amassed a market cap of several million dollars each.

After a three year hiatus, on Monday, May 13, Roaring Kitty, aka Keith Gill, returned to Twitter. 

Posting a string of characteristically playful videos, the man who is widely credited with initiating the 2021 GameStop short squeeze triggered an overnight memecoin rally. But who is Roaring Kitty and why have markets reacted this way to his return?

Keith Gill the Meme Market Guru

Known on YouTube and X as Roaring Kitty, Gill’s real claim to fame stems from Reddit, where he uses the handle DeepFuckingValue. 

Gill’s analyses posted to the r/wallstreetbets  subreddit helped inspire the community to act in tandem against the interests of hedge funds that were shorting GameStop. 

What followed catapulted the Subreddit to international fame and kickstarted a significant rally in meme investments. 

Propelled by a 1000% increase in GameStop stock, other Roaring Kitty tip-offs and a host of memecoins enjoyed a significant bull run that peaked in the Summer of 2021.

Following intense scrutiny of his role in the events, Gill went dark just as that year’s investment frenzy reached its apex. He maintained a low profile right up until his sudden return on Monday. 

As news of his resurfacing spread, GameStop shares surged by over 100%. Meanwhile, in the parallel world of cryptocurrencies, memecoins have broken out of a sluggish trend that has gripped the market for weeks.

Memecoins Soar on Roaring Kitty Return

Since Gill’s tweets, the market cap of all memecoins tracked by CoinGecko has risen more than 7%. Cat-themed tokens have done even better, climbing more than 15% in the past 24 hours.

In classic memecoin fashion, a string of micro-cap tokens referencing Roaring Kitty have also sprung up.

Shortly after the meme influencer made his first post in years, two Solana-based tokens, Kith gil (GIL) and ROAR, landed on decentralized exchanges, rapidly amassing a market capitalization of several million each.

Existing cat-themed Solana tokens have also benefitted from Gill’s return. Leading the charge, Kitty Coin has jumped over 140% since Monday. Meanwhile, Mochicat is up over 76%.

Finally, GameStop (GME), also an SPL token, exploded by 3,500% from $0.0014 to $0.014 at the time of writing (May 14 2024).

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