Solana meme coin GME surges 65% as Roaring Kitty signals comeback

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Cryptobriefing2024/12/06 06:22

By:Cryptobriefing

Key Takeaways

Solana-based meme coin surged 65% following Roaring Kitty's cryptic message.
GameStop shares saw a 15% increase leading to trading halts due to volatility.

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GameStop champion Keith Gill, known as “Roaring Kitty,” sparked market movements after posting a cryptic message on X , leading to price surges in both GameStop shares and a Solana-based meme coin.

Solana meme coin GME surges 65% as Roaring Kitty signals comeback image 1

GME meme coin chart (TradingView)

GME stock jumped more than 15% following Gill’s post of a Time magazine cover featuring a computer with an old video player, prompting trading halts on Robinhood due to volatility.

A GameStop-inspired meme coin on the Solana blockchain saw a 65% increase in value, demonstrating the ongoing influence of meme culture across traditional and digital asset markets.

Gill’s social media activity carries substantial market influence following his central role in GameStop’s 2021 rally, which saw the stock surge 10,000% and led to congressional hearings on retail trading practices.

The trading restrictions implemented during that period sparked accusations of market manipulation, particularly as major hedge funds maintained significant short positions in GME.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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