GameStop Trader ‘Roaring Kitty’ Return Drives Crypto Memecoin Frenzy
- Token created in January rose more than 1,400% on Monday
- Unaffiliated Roaring Kitty memecoin soars more than 700%
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Trader euphoria stemming from the long-awaited return to social media by Keith Gill, the investor known for spearheading 2021’s memestock rally under the name of “Roaring Kitty,” has spilled over into the world of crypto.
A cryptocurrency created at the end of January utilizing GameStop’s name, logo and ticker rose more than 1,400% on Monday, according to CoinGecko data, despite having no legitimate affiliation with the company. GameStop, a video game retailer that became one of the most recognizable memestocks, was a target of Gill’s when he rallied day traders on Reddit in an effort to squeeze the company’s short sellers more than two years ago.