The value of the ROAR meme coin experienced a substantial surge of more than 300% today, propelled by social media personality Roaring Kitty's disclosure of owning GameStop stock.

The ROAR meme coin, which has ties to Roaring Kitty, observed a surprising spike in its value this morning, jumping by 307.4% to hit $0.001643, according to CoinGecko.

The surge in value can be attributed to significant events involving Roaring Kitty, also known as Keith Gill, who posted a screenshot on Reddit revealing a sizeable holding of GameStop stock and options. Based on the closing price on Friday, Gill's disclosure of owning 5 million GameStop shares, valued at around $116 million, had a profound effect on market dynamics.

Gill's revelation led to a rapid and significant increase in GameStop stock, peaking at over 100% before settling at an 88% rise in pre-market trading. The peak value of GameStop shares reached $43.57, signalling a renewed enthusiasm among investors in meme stocks.

The surge in GameStop shares, fueled by Gill's strategic social media activities, including a mysterious post featuring the Uno reverse card, reignited interest in meme stocks. These stocks, characterized by their volatile price fluctuations influenced by online popularity rather than company performance, have become a focal point for individual investors.

Despite the recent surge and heightened interest, GameStop faces volatility, having sold 45 million shares for $933.4 million last month while cautioning investors about potential significant losses. The company grapples with anticipated quarterly sales declines and sustained net losses.

The current trading price of GameStop stock is $30.47 per share, with a daily trading volume exceeding $118 million.

The surge in the value of the ROAR meme coin and the resurgence of interest in meme stocks underscore the impact of social media influencers on cryptocurrency and stock market activities, illustrating the influence of digital platforms on investment trends.