Gamestop and Wall Street Bets-inspired meme coins are seeing a significant surge on Friday, with many experiencing double and triple-digit growth. The token known as roaring kitty (KITTY) skyrocketed by 161%, while GME has risen by 80% in the last 24 hours.
Speculation surrounding Keith Gill has been a driving force behind the surge in Roaring Kitty and GME tokens. While Gamestop stocks have had a rough day, dropping by 20% to 30% against the U.S. dollar, the meme stock-focused tokens have shown impressive gains. There are rumors that Keith Gill, the individual behind the ‘Roaring Kitty’ and ‘Deepf***ingvalue’ accounts, may be planning a livestream similar to those he conducted in 2021. For instance, the meme token GME surged by 80% against the dollar, reaching an all-time high of $0.03189 per unit today. Despite a 30% drop from that peak, the GME token is still up by 70% for the day.
Roaring Kitty (KITTY), a meme coin based on Solana, saw a 161% increase against the U.S. dollar and reached a record high of $0.04309 per coin. KITTY is currently down by 30% from its peak, mirroring the trend of the GME token. Four coins with the ticker WSB also saw double-digit gains, though not as significant as GME and KITTY.
The surge in Gamestop-related meme coins today reflects the speculative frenzy often seen in the meme token space. It remains uncertain whether these assets will maintain their upward momentum. As traders and enthusiasts rally around figures like Keith Gill, the market’s unpredictable nature continues to drive these fluctuations. History has shown that such volatile trends can quickly reverse course.
What are your thoughts on the rise of GME and Wall Street Bets-related crypto assets? Feel free to share your opinions in the comments section below.
