Keith Gill, popularly known as Roaring Kitty, sparked excitement in the cryptocurrency market after posting a photo from Times Magazine on X. GameStop shares rose 13% after the post before being suspended. The GameStop-inspired meme coin also rose more than 40% after Gill's X post.
GameStop-based meme coins rose more than 40% on Thursday after popular trader Keith Gill stirred excitement in the meme coin sector with a post on social media platform X featuring a photo from Time magazine.
GameStop-themed meme coins proliferate due to Keith Gill's post
Keith Gill, popularly known as Roaring Kitty, has registered her internet presence for the first time in months after posting a photo with an X captioned “Time.” The photo shows a 2006 Times magazine cover and a computer screen, suggesting it was encrypted. message.
This sent GameStop (GME) stock into high gear, with the stock soaring 13% before the exchange halted trading. However, it wasn't just gaming company stocks that were affected by the sharp rise in stock prices after Gill's post. Similarly, meme coins on the Ethereum and Solana blockchains, including GME, rose, posting gains of over 40%.
Keith Gill is credited with leading the GameStop short squeeze in 2021 from the WallStreetBets subreddit that sent GME stock soaring more than 1,600%.
Gill also contributed to the Dogecoin rally that same year, before being exiled from the media world himself.
He reappeared on social media platform X a few months ago, causing excitement among his followers with cryptic posts. Around the same time, meme coin mania in Q2 2024 was in full swing, with Solana meme coin dominating the crypto market.
Most cryptocurrency community members expect his return on Thursday to have a similar impact on the memecoin sector.
The memecoin sector is up over 6%, suggesting increased buying pressure among investors since Keith Gill's post.
