Gamestop and Wall Street Bets-inspired meme coins are on the rise this Friday, with many seeing significant increases in the double and triple digits. The token known as Roaring Kitty (KITTY) surged by an impressive 161%, while GME saw an 80% increase in the past 24 hours.
Speculation surrounding Keith Gill has been a driving force behind the surge in Roaring Kitty and GME tokens to new heights. Despite Gamestop shares experiencing a decline of 20% to 30% against the U.S. dollar, meme stock-focused tokens have seen substantial gains. Rumors suggest that Keith Gill, also known as 'Roaring Kitty' and 'Deepf***ingvalue,' may be planning a livestream similar to those he did in 2021.
The meme token GME saw an 80% surge against the dollar, reaching an all-time high of $0.03189 per unit today. Although it has since dropped by 30% from that peak, the GME token remains up by 70% for the day. Roaring Kitty (KITTY), another meme coin based on Solana, also experienced a significant increase of 161% against the U.S. dollar, reaching an all-time high of $0.04309 per coin. Similar to the GME token, KITTY is now down by 30% from its peak. Additionally, four coins with the ticker WSB also saw double-digit gains, albeit smaller than GME and KITTY.
The soaring performance of Gamestop-related meme coins today underscores the speculative frenzy often seen in the meme token space. It remains uncertain whether these assets will maintain their upward momentum. As traders and enthusiasts continue to rally around figures like Keith Gill, the whimsical nature of the market continues to dictate these unpredictable fluctuations. History has shown that such volatile trends can often lead to sudden and unexpected reversals.
What are your thoughts on the surge in GME and Wall Street Bets-related crypto assets? Feel free to share your opinions in the comments section below.