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GameStop Rally Sends Meme Coins Skywards; PEPE, FLOKI, MOG Surge

May 13, 2024
  • Meme coins surged after a post by Keith Gill, a retail trader whose online persona and investment strategies contributed to the GameStop short squeeze in 2021.
  • The meme coin surge was not limited to microcap tokens but also impacted larger tokens like Pepe and Floki.
As a researcher with experience in the crypto market, I’m fascinated by the recent surge of meme coins following retail trader Keith Gill’s viral post. This event is noteworthy because it impacted both smaller and larger tokens alike, such as Pepe (PEPE), Floki (FLOKI), popcat (POPCAT), and mog (MOG).As an analyst, I’d rephrase that as: I observed a significant surge in the prices of popular meme coins on Tuesday, which can be attributed to a viral post by retail trader Keith Gill. His influential following played a pivotal role in driving up the values of certain stocks and digital tokens at the beginning of this week.

I, an astute crypto investor, transformed a $58,000 investment into an estimated $50 million windfall between 2019 and 2021, primarily through strategic GameStop (GME) options purchases. After maintaining a low profile on my @TheRoaringKitty X account for three long years, I recently posted a simple image that ignited a frenzy in the stock market. The stock value nearly doubled on Monday, defying numerous trading halts, all without me explicitly mentioning Gamestop in my post.

As a crypto investor, I’ve noticed an infectious excitement from the retail world spilling over into the token markets. A multitude of GameStop-inspired offshoots and humorous tokens emerged on both Solana and Ethereum blockchains – with the meme GME token experiencing a staggering surge of up to 500%.

As an analyst, I’d rephrase it as follows: After Gill shared a video showcasing the X-Men character Wolverine, a wave of WOLVERINE tokens emerged among developers, many experiencing significant price drops – over 90% – in the hours that followed.

As a crypto investor, I’ve noticed some significant price surges in various tokens within the past 24 hours. Not only microcaps experienced this trend, but larger tokens like PEPE and FLOKI saw jumps as high as 30%. Additionally, popcat (POPCAT) and mog (MOG), which are themed around cats, also showed remarkable growth. These price increases could be an early indication that risk appetite is returning to the crypto markets after a period of subdued trading activity.
GameStop Rally Sends Meme Coins Skywards; PEPE, FLOKI, MOG Surge
Some traders have reignited discussions about a potential Dogecoin (DOGE) surge, reminiscent of its 2021 price boom following the dramatic rise of GameStop’s stock price from $4 to $120 within a month.
As a researcher studying the MOG token, I’ve discovered firsthand that individual investors, like Roaring Kitty, can outperform even the largest institutional players in the market. This was evident in Roaring Kitty’s impressive returns, which left a significant impact on the meme coin sector. The market was reminded of this when it recalled the widespread excitement around GameStop in 2021, which extended to Dogecoin and other popular meme coins.
“Although we’re still not in a fully bullish market, the recent price fluctuations following Roaring Kitty’s return suggest which investments may perform well once market conditions become more exuberant. The market has given us a clue, indicating its preference for $MOG.”

As an analyst, I’ve noticed among developers and traders that there’s more to Gill’s draw than just his generational wealth. The intrigue lies in the captivating tale of a lone trader outwitting hedge funds from the comfort of their bedroom, armed with nothing but publicly accessible tools. And who knows, they might even replicate a similar successful move.

Some people believe that meme tokens have gained significant traction in this cycle, making them a formidable competitor to Decentralized Finance (DeFi) and utility crypto projects due in part to their widespread popularity and appeal.

As a crypto investor, I’ve noticed an intriguing shift in the industry’s perception towards meme coins. In my role as lead developer at Floki, I recently shared this insight with CoinDesk, expressing that the sector is only beginning to appreciate the entertaining and relatable nature of memes. The retail market is increasingly drawn to meme coins, seemingly disregarding the outdated “utility” projects that have long dominated the crypto landscape.

As an analyst, I foresaw the growing fascination with meme coins several years ago when others were expressing concerns about their lack of underlying value. Recently, Floki has shifted its focus towards providing utility products to cater to its early token buyers who initially saw it as nothing more than a humorous meme.

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2024-05-14 14:21