On May 28, meme coins GME and KITTY increased in value by 19% and 55% respectively, following GameStop's stock, which gained about 25%.
According to CoinGecko, both coins have slightly declined in price after their sharp rise. At the time of writing, GME is trading at $0,004658, and KITTY at $0,003511. After the close of trading on May 28, GameStop's stock was valued at $23.78 on the NYSE.
GME is a meme token using the same ticker as GameStop's stock. KITTY got its name from former financial analyst Keith Gill, known by the pseudonym The Roaring Kitty.
An expert and active participant in the WallStreetBets subreddit, Gill became famous after sparking the 2020 "war" of retail traders against Wall Street. On May 13, 2024, GameStop and AMC stocks surged by more than 75% following Gill's unexpected return. Alongside these events, the rest of the meme token segment also grew. Over the past 24 hours, the total market capitalization of this segment increased by 6.6%, reaching $72.4 billion.
The SHIB coin rose by 16% in 24 hours, ranking 11th among the largest cryptocurrencies. WIF increased by 21%, and the "political" meme token MAGA by 27%.
The GMCI Meme index increased by 19% over the week and has gained 323% since the beginning of the year.
Let us recall, on May 13, a trader earned a 32-fold profit on the KITTY meme token thanks to the activity of The Roaring Kitty.
Earlier, ForkLog reported that a long-term SHIB investor earned over $1 million on the coin in three years.
