GameStop and kitty-themed meme coins surge with double-digit gains

The prices of three meme coins inspired by the Roaring Cat have recorded double-digit increases in the past day.

Amid the slight increase in the overall meme coin market cap, data from CoinMarketCap (CMC) shows that GME, KITTY, and ROAR are also up over 10%.

The three tokens appear to have benefited from their connections to GameStop trader Keith Gill, despite no official connection to the original meme stock champion. On Wednesday, GME, KITTY, and ROAR were up 10%, 20%, and 15%, respectively, from the previous day.

While GME uses the same ticker as video game retailer GameStop, KITTY is based on Gill’s online alias Roaring Kitty. Both tokens are Solana-based, but ROAR is based on Ethereum, the cryptocurrency’s second-largest blockchain.

Gill rose to prominence when he rallied support for GameStop (GME) in 2021. At the time, the video game retailer was struggling to stay relevant during a short squeeze as its stock price was well off its all-time high.

The investor disappeared from the public eye until resurfacing this year with a series of X-posts on social media. While several cat-themed meme coins rose with Gill’s return, the GME investor disclosed his GME stock and options positions on Reddit. On June 7, the investor went live on YouTube for the first time in three years.

His occasional posts continue to cause volatility in GameStop and Kitty-themed meme coins.

At press time, GME was trading at $0.00636, up 10.58% in the previous 24 hours, according to CMC data. GameStop stock closed at $28.54, up 5.7% during regular trading hours on Tuesday.