- Keith Gill, popularly known as Roaring Kitty, stirred excitement in the crypto market after posting a Times Magazine picture on X.
- Gamestop stock rose 13% before being halted following the post.
- Meme coins inspired by Gamestop also rallied over 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 featuring a Time Magazine picture on social media platform X.
Gamestop-themed meme coins surge after post from Keith Gill
Keith Gill, popularly known as Roaring Kitty, registered his internet presence for the first time in months after he posted a picture with the caption "Time" on X. The picture mirrors a Times magazine cover from 2006 with a computer screen, suggesting an encrypted message.
— Roaring Kitty (@TheRoaringKitty) December 5, 2024
This sparked quick price movements on the Gamestop (GME) stock, which shot up 13% before exchanges halted its trading. However, the game company's stock wasn't the only recipient of the price surge following Gill's post. Meme coins on the Ethereum and Solana blockchains that also bear the GME rallied, posting gains above 40%.
Keith Gill is attributed with leading the GameStop short squeeze from the Wallstreetbets subreddit in 2021, where the GME stock surged over 1,600%.
Gill was also instrumental in the Dogecoin rally the same year before taking a self-induced exile from the media space.
He resurfaced on the social media platform X a few months ago, making cryptic posts that stirred excitement among his followers. Around the same time, the meme coin mania of Q2 2024 was in full swing with Solana meme coins dominating the crypto market.
Most crypto community members are expecting a similar impact on the meme coin sector with his return on Thursday.
The meme coin sector is up over 6%, suggesting increased buying pressure among investors since Keith Gill made the post.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Crypto Today: BNB, OKB, BGB tokens rally as BTC, Shiba Inu and Chainlink lead market rebound
Cryptocurrencies sector rose by 0.13% in early European trading on Friday, adding $352 million in aggregate valuation. With BNB, OKB and BGB attracting demand amid intense market volatility, the exchange-based native tokens sector added $1.9 billion.
US SEC may declare XRP a 'commodity' as Ripple settlement talks begins
The US SEC is considering declaring XRP as a commodity in the ongoing settlement talks with Ripple Labs. FOX News reports suggest Ethereum's regulatory status remains a key reference for XRP’s litigation verdict.
Cardano Price Prediction: ADA could hit $0.50 despite high probability of US Fed rate pause
Cardano price stabilized above $0.70 after posting another 5% decline in its 3rd consecutive losing day. Multiple ADA derivatives trading signals are leaning bullish, but the US trade war impact outweighs the positive shift in inflation indices.
Stablecoin regulatory bill receives green light during Banking Committee hearing
The US Senate Banking Committee voted on Thursday to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, which aims to establish proper regulations for stablecoin payments in the country.
Bitcoin: BTC at risk of $75,000 reversal as Trump’s trade war overshadows US easing inflation
Bitcoin price remained constrained within a tight 8% channel between $76,000 and $84,472 this week. With conflicting market catalysts preventing prolonged directional swings, here are key factors that moved BTC prices this week, as well as key indicators to watch in the weeks ahead.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.