Solana Memes, GameStop Stock Jumps 44% in Premarket as ‘Roaring Kitty’ Returns on X

As a crypto investor with experience in following market trends and understanding the impact of social media influencers, I’m thoroughly impressed by the power of Keith Gill, also known as Roaring Kitty. His single post on Monday sparked rallies in meme coins and GameStop stock, demonstrating the significant influence he holds over retail traders and the wider crypto market.

On Monday, a solitary image ignited protests among investors in various cat meme coins and Gamestop stock (NYSE: GME). Enthusiasts in the financial community celebrated what seemed to be the resurrection of TheRoaringKitty, the enigmatic retail trader Keith Gill, whose last post dated back to late 2021.

As an analyst, I’ve noticed that in a recent post, Gill shared a meme which colloquially refers to a phase of unwavering attention or intense focus. The majority of users on X and Reddit appeared to interpret this image as a call to action, encouraging them to concentrate on trading markets.

The prices of stocks associated with Gill and other popular meme stocks experienced significant gains. For instance, GameStop (GME) saw a surge of up to 44% in the early trading session, while AMC Entertainment Holdings (AMC) rose by 12%.

On the decentralized Solana blockchain, an unconnected GameStop meme token experienced a staggering increase of over 550%, according to DEXTools’ data. Simultaneously, the AMC token soared by an impressive 1,200%. Several microcap feline-themed meme coins, like KITTY, reported gains in the thousands of percent.

I’ve analyzed the data, and it appears that developers, taking advantage of recent market trends, have released numerous tokens related to Gill, TheRoaringKitty, GameStop, and the meme term “stonks” within the last day.

Who is Roaring Kitty?

In late 2019, Gill initiated an intriguing discussion about GameStop on Reddit, which later picked up significant momentum during the COVID-19 pandemic. This conversation played a pivotal role in the unprecedented short squeeze event that took place in January 2021. A large number of individual investors collaborated and acquired options and amplified their stock holdings in GameStop.

In just one month, the stock price surged from a mere $4 to an impressive high above $120, representing a massive gain compared to its all-time low of only 64 cents in April 2020.

Gill’s modest $53,000 opening investment ballooned to an astounding nearly $50 million at its highest point, making for an inspiring tale of a solitary trader amassing a fortune from his humble bedroom by opposing hedge funds. Melvin Capital, one of the most active losers, took significant financial blows with their losses on meme stocks and other conflicting investments.