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

Dormant Bitcoin Wallets Come to Life

chest

Six dormant Bitcoin wallets have moved a total of 55,359 BTC, worth approximately $40.15 million, between August 16 and August 26.

user avatarSatoshi Nakamura

SEC Proposes New Rules for Crypto Custody Regulations

chest

The SEC has proposed new rules to modernize crypto custody regulations for investment advisers and companies.

user avatarJesper Sørensen

US Law Blocks Federal Reserve from Issuing Digital Currency Until 2030

chest

US Congress passed a law blocking the Federal Reserve from issuing a digital currency until 2030.

user avatarRajesh Kumar

ECB Executive Addresses Privacy Concerns of Digital Euro

chest

Piero Cipollone from the European Central Bank addresses privacy concerns regarding the digital euro, emphasizing user privacy and transaction confidentiality.

user avatarLucas Weissmann

Bitcoin Futures Traders Abandon Crypto for Stablecoin Margin

chest

Bitcoin futures traders have largely abandoned using Bitcoin as collateral for their positions, opting for stablecoin-backed positions to avoid risks associated with price drops.

user avatarFilippo Romano

Gold Prices Surge to Three-Month High

chest

Gold prices surged to a three-month high, reaching $4,696.18 an ounce, driven by a weaker dollar and falling Treasury yields.

user avatarEmily Carter

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.