Memecoins
Roaring Kitty’s dog tweet was good news for memecoins, but…
- Keith Gill’s dog-themed tweet boosted price action in GME, pet memecoins and related stocks.
- Dog-themed memecoins jumped 2.2%, while cat-themed memecoins rose 16.2%.
Retail investor Keith Gill, also known as Roaring kittenis well known for his influential tweets that typically affect the shares of American video game company GameStop (GME), as well as his GameStop-inspired tweets. Solana [SOL] memecoin – GME.
However, this time, Gill’s message had a broader impact on the market. It caused GME and other major pet care stocks and pet-inspired memecoins to immediately appreciate on the charts.
Roaring Kitty is back!
June 27, Gill shared a tweet, one featuring a cartoon image of a dog looking sideways and sticking its tongue out, and without any caption.
Source: Roaring Kitty/X
Although Gill’s tweet doesn’t imply anything else, dog themed memecoinsThe market capitalization jumped to $36 billion, up 2.2% in just 24 hours.
On the contrary, cat-themed memecoins Market capitalization climbed to $2.4 billion, after increasing 16.2% over the same period.
The impact exceeds expectations
Simultaneously, a few pet-related stocks like Chewy, Inc. and PetMed Express, Inc. also saw significant percentage increases. However, these gains were short-lived.
As expected, GameStop (GME) Stock maintained its rise on the charts, with the stock up 3.68% at the time of writing.
Since the GME memecoin generally mirrors the stock price of GME, it also jumped 14.57% in the last 24 hours. The memecoin uptrend was confirmed by the RSI remaining above the neutral level on the 4-hour chart.
Source: TradingView
Strange events
Despite the fact that many of the memecoins mentioned above are also doing well, the most popular dog-inspired memecoins on the market – Dogecoin [DOGE] And Shiba Inu [SHIB] – saw only minimal gains of 3.4% and 1.2%, respectively.
On the other hand, the best cat-inspired memecoins like Mog Coin [MOG] And Michi [MICHI] saw massive gains, increasing by 25.9% and 38.65% respectively in the last 24 hours.
Finally, it is worth highlighting that AMBCrypto’s analysis of Santiment data confirmed the positive sentiment around these four memecoins, as indicated by their RSI trends.
Source: Santiment