Memecoins
Why Are GameStop and Kitty-Themed Memecoins Trading Higher Today? Read More – GameStop (NYSE:GME)
Cryptocurrencies linked to legendary trader “Roaring kitten” rose Tuesday due to high short interest in meme stocks, GameStop Corp. GME.
What happened: GameStop GME/USD, the Solana The SOL/USD-based meme coin that pays homage to the historic short squeeze of 2021, has surged 10% in the past 24 hours.
In addition, AI Kitten KITTY/USD climbed 25%, with 24-hour trading volumes up 10%.
These two memecoins have no fundamental connection to GameStop or Roaring Kitty, but simply play on speculations about a short-term liquidation of the stock even and a possible repeat of the 2021 event.
See also: Pepe, dogwifhat and Floki explode amid red-hot memecoin rally — Dogecoin and Shiba Inu also surge
Why is this important: Keith Gill, better known online as “Roaring Kitty,” has He set the stock and cryptocurrency markets on fire with his return to social media in May.
The trader posted position updates on Reddit and They even hosted a live stream during market hours on his YouTube channel.
His sporadic posts continue to inject volatility into GameStop and Kitty-themed memecoins.
Price action:At the time of writing, GME was trading at $0.00661, up 10.84% in the past 24 hours, according to Benzinga Pro dataGameStop shares closed up 5.85% at $28.58 during regular trading hours on Tuesday.
Read more :
News and market data powered by Benzinga APIs
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.