Keith Gill, who was involved in the famous “GameStop short squeeze” event in 2021, where retail investors clashed with Wall Street short sellers on GameStop, woke up on the X platform yesterday (13th), causing a surge in GameStop stock prices and related meme coins.
In 2021, the American video game retailer GameStop faced difficulties due to its outdated business model and the impact of the COVID-19 virus, leading to being heavily shorted by several Wall Street institutions.
However, a Twitter user named TheRoaringKitty (real name Keith Gill) rallied retail investors on social media to actively buy GameStop stocks (GME) to confront Wall Street capital. This event created the famous retail investor massacre on Wall Street: the “GameStop short squeeze” event.
Further reading:
GameStop short sellers lose 53%! Melvin Capital has closed its position and received an emergency injection of $2.75 billion.
Keith Gill is suspected to have returned
Just yesterday, Keith Gill, who had been dormant on the social platform X for over 3 years, woke up again. In his first latest tweet, although there was no text explanation, a meme picture showed a man sitting on a chair, transitioning from lying flat to leaning forward, still holding something that looked like a game controller.
Many members of the community speculated that this indicated Keith Gill’s possible return?!
GME price surges 110%
Without any other official news from GameStop, according to Google Finance data, GameStop stock (GME) experienced a surge since last night, rising from $17.45 to a high of $36.70, doubling in just one day, which is quite astonishing.
Although there was a slight decline at the close, the aftermarket is currently hitting new highs at $36.9, indicating the enthusiasm of investors.
GME, Roaring Kitty-related meme coins surge
Perhaps inspired by this, a wave of meme coins related to GameStop and Roaring Kitty also surged on various chains yesterday. For example, GME (GaemStap) and KITTY (Roaring Kitty) on Solana, the GameStop-named meme coin GME on Ethereum…
Among them, KITTY on Solana had the highest heat and largest increase. According to DEXSCREENER data, KITTY deployed on Solana a month ago soared from a low of $0.0002118 to a high of $0.04093 yesterday. Although it fell to $0.03461 at the time of writing, the astonishing 24-hour increase was 16,600%, and the market value soared to $25 million.
It is worth noting that Keith Gill also released several short videos related to movies and TV shows last night. Although there was no explanation for the release, more than 30 meme coins related to Wolverine appeared on the internet shortly after the release of a video about X-Men’s Wolverine, being minted on blockchains such as pump.fun, Solana, and Ethereum.
Regarding this meme frenzy caused by Keith Gill, some community members see it as a tribute to the once sensational “GameStop short squeeze” event. However, Dynamica reminds investors that meme coins often come with high volatility and high risks. When participating in market frenzies, one should also pay attention to investment risks.
Related reports:
Forbes Magazine: “Bitcoin Could Become the Next GameStop!” Retail Investors May Enter the Cryptocurrency Market with $1.3 Billion Shorts on Wall Street.
Changing the rules of the game! GameStop launches Ethereum NFT platform to create value for players, creators, and collectors.
GameStop plummets 85% in four days, is the retail frenzy over? Dallas Mavericks owner: There may be a turning point after Robinhood resumes trading.