KITTY Token Surges 8,000% As Keith Gill Returns To Social Media

Yolowire 13-May-2024 11:41 AM

The %RoaringKitty (CRYPTO: $KITTY) %Cryptocurrency, a Solana-based meme token, has seen its price rise more than 8,000% after Keith Gill began posting on social media again.

Gill, who is known by the online handle “Roaring Kitty” and credited for helping to fuel the meme stock craze of 2021, took to social media over the weekend for the first time in three years.

His bullish analysis of GameStop on the %WallStreetBets site during the 2021 meme stock craze sent the company’s share price soaring.

News of Gill’s return to social media sent shares of video game retailer %GameStop (NYSE:GME) up 45% in early trading on May 13.

Likewise, the KITTY crypto that was started as a joke during the meme stock rally of 2021 is surging on news that Roaring Kitty is again posting on social media.

Several other meme tokens associated with Roaring Kitty and the meme stock rally have also seen their prices more than double in the last 24 hours.

In real life, Gill used to be a Chartered Financial Analyst (CFA) and a licensed securities broker based in Massachusetts before moving to focus on day trading.

By some estimates, Gill turned an initial investment of $53,000 U.S. in GameStop into $50 million U.S. due to the short squeeze he helped execute on the stock in January 2021.

GameStop’s stock peaked at $483 U.S. a share in 2021 before crashing. Prior to today’s move higher, GameStop’s share price was at $17.46 U.S. per share.

GameStop continues to struggle with poor sales and declining profits. The company has been trying for several years to turnaround its business and move to selling video games online.

On X (formerly known as Twitter), Gill published an image featuring a man transitioning from a casual to a competitive sitting posture, accompanied by the caption “Casual to Competitive.”

The man depicted in the image appears to be holding what looks like a video game controller.

Despite its big move higher, the KITTY token still trades at a fraction of one cent.