Roaring Kitty-themed memecoins unfazed by GameStop Q1 earnings
Three Roaring Kitty-inspired memecoins marked triple-digit price increases over the past week.
Despite a slight decline in the overall memecoin market cap, CoinGecko data showes that GME, KITTY, and ROAR whipsawed over 100%.
The three tokens have seemingly benefitted from associations with GameStop trader Keith Gill, although no official affiliation exists with the original memestock champion. On Friday, GME, KITTY, and ROAR are up 445%, 817%, and 107%, respectively, over the past week.
GME shares an identical ticker with video game retail company GameStop and KITTY is styled after Gill’s Roaring Kitty online alias. Both tokens are Solana-based, while ROAR lives on Ethereum, crypto’s second-largest blockchain.
Roaring Kitty comeback
Gill became famous for marshaling support behind GameStop (GME) in 2021. At the time, the video game retailer struggled to maintain relevance during a short squeeze as its stock price was far below its all-time highs.
The investor vanished from the public eye till this year, returning on social media with a series of posts on X. As some cat-themed memecoins boomed on Gill’s comeback, the GME investor disclosed his GME stock and options positions on Reddit.
At press time, Gill’s GameStop portfolio was valued at over $500 million despite a 28% fall in GameStop’s stock price on the day. The company posted a sharp 29% sales decline in its first-quarter earnings report.
If GME stock rises to $65 per share, the value of Gill’s position could hit $1 billion. Also, Gill is hosting a YouTube Live stream for the first time in three years. Crypto.news noted over 78,000 people in the waiting room ahead of the event, which is scheduled for 4 PM UTC.
