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

user avatar

by Giorgi Kostiuk

2 years 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.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Nethermind Transitions to Chainlink CCIP as Node Operator

chest

Nethermind has transitioned its crosschain node operations to Chainlink CCIP, ending its role in the LayerZero Decentralized Verifier Network.

user avatarKenji Takahashi

NAVI Prime's Curated Lending Markets: A Step Towards Enhanced Risk Management

chest

NAVI Prime introduces curated lending markets to enhance risk management in DeFi by isolating environments and customizing collateral rules.

user avatarMaria Fernandez

NAVI Protocol Launches NAVI Prime: A New Era in Decentralized Lending

chest

NAVI Protocol has launched NAVI Prime, a modular lending framework on the Sui blockchain that replaces shared liquidity pools with independently curated lending markets.

user avatarGustavo Mendoza

HINC Deployment Enhances Sui Network's Institutional Appeal

chest

The deployment of the Neuberger Securitize High Income Tokenized Fund (HINC) on the Sui network enhances its appeal to institutional investors and showcases its potential in the tokenized finance landscape.

user avatarMiguel Rodriguez

Neuberger Securitize Launches High Income Tokenized Fund (HINC)

chest

Securitize and Neuberger Berman have launched the Neuberger Securitize High Income Tokenized Fund, known as HINC, providing accredited investors with tokenized access to high-yield bonds and other credit products.

user avatarRajesh Kumar

Walmart's Stock Plummets After Earnings Report

chest

Walmart's stock fell over 9% after its fiscal second-quarter earnings report showed only a 2.6% increase in US comparable sales, raising investor concerns.

user avatarLuis Flores

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.