Roaring Kitty's Return Boosts GameStop Token (GME) Price

by Giorgi Kostiuk

a year ago

The price of GameStop token (GME) surged following the return of the famous blogger Roaring Kitty, who posted an animated GIF on social media, leading to increased trading activity.

Roaring Kitty's Impact on GameStop Price

The Solana-based GameStop token (GME) saw its price rise to $0.00402, a 13% 24-hour gain, with its market capitalization reaching $27.57 million. This was accompanied by a 47% increase in trading activity, totaling $10.28 million.

Roaring Kitty's Historical Connection with GameStop

Roaring Kitty gained fame for his support of GameStop stock in January 2021, when he invested $53,000 and advocated for the company among his online followers, leading to a significant rise in its stock price.

Roaring Kitty reignited interest in GameStop upon his return to social media after three years, causing a 50% spike in stock prices.CITE_W_A

Legal Issues and Outcomes

In June 2024, a GME investor filed a lawsuit against Roaring Kitty, accusing him of manipulating the company’s stock for personal gain. However, the lawsuit was dropped after three days due to insufficient evidence.

Roaring Kitty’s return to social media once again created a significant impact on the GME token price, showing that his influence on stocks and cryptocurrency remains substantial.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

CryptoAppsy: A Revolutionary Tool for Monitoring Cryptocurrency.

CryptoAppsy has been launched, providing real-time cryptocurrency data and portfolio management features.

Son Min-ho20 minutes ago

Catastrophic Phishing Attack on Trezor Users Results in Massive Losses

A catastrophic phishing attack on Trezor users on January 16, 2025, resulted in the theft of approximately 1,459 BTC and 205 million LTC, exposing critical vulnerabilities in user security practices.

Ayman Ben Youssefan hour ago

Crypto Losses Reach 400 Million in January 2025 Amidst Alarming Hacks

In January 2025, crypto losses reached 400 million due to hacks, highlighting critical vulnerabilities in the blockchain industry.

Tando Nkubean hour ago

Federal Reserve and European Central Bank Communications

This week, the Federal Reserve and European Central Bank are set to be highly active in their communications, which could have significant implications for global markets.