GameStop (GME), a memecoin based on Solana blockchain technology, has experienced a remarkable spike of over 300% following a social media post by the renowned trader "Roaring Kitty," reigniting excitement in the memecoin landscape.

At the latest evaluation, the GameStop-associated memecoin, despite lacking official ties to the company, was priced at $0.01309, marking a substantial 220% increase within a mere 24-hour period according to data from CoinMarketCap (CMC). Additionally, the cryptocurrency demonstrated a trading volume of $213 million, witnessing an astounding tenfold surge during the same timeframe.

On June 3, Keith Gill, a stock trader known as "Roaring Kitty," who gained fame for his involvement in the GameStop stock hype in late 2020, posted a mystifying image of a green UNO reverse card.

The recent social media activity by Gill follows a series of cryptic messages and memes shared since his return to various online platforms in May, which have stirred a renewed interest in the memecoin domain.

Furthermore, other memecoins have also reaped substantial gains owing to the revived attention drawn by "Roaring Kitty." For instance, Kitty AI, an unrelated memecoin, has more than doubled in value and is presently trading at $0.007139 as reported by CMC.

Amidst this resurgence, Gill made a rare appearance on Reddit on June 2, his first since April 2021, disclosing a screenshot suggesting his acquisition of 5 million GME shares for $115.7 million. Alongside, he invested another $65.7 million in call options, speculating that the GME stock price would surpass $20 per share by June 21.

Although the authenticity of this screenshot remains unverified, its effects on market sentiment have been notable. The trajectory of GameStop shares, which closed at $23.14 on May 31, has shown an upward momentum over the past month, partly attributed to Gill's resurfaced online presence.

Keith Gill's pivotal role in the GameStop saga during the COVID-19 pandemic is widely acknowledged, with many viewing him as a central figure in the events that resulted in Reddit traders challenging hedge funds that were shorting the struggling game retail giant. The aftermath saw GameStop's stock price skyrocket by over 1,000% in less than a month.

Some analysts speculate that the GameStop short squeeze episode paved the way for the subsequent surge in meme coins like Dogecoin and Shiba Inu, as retail investors turned their attention towards other speculative assets.