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Roaring Kitty’s Return Triggers KITTY’s 8700% Rally, GME Pumps 100%

May 13, 2024

Keith Gill, more commonly known as Roaring Kitty, has re-surfaced on social platform X [formerly Twitter]. Letting the cat out of the bag after a period of three years, Gill cryptically tweeted an image of a video gamer leaning forward on a chair, indicating that he was paying attention and taking the game seriously.

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Gill’s comeback has excited people across all markets. Back during the pandemic, his predictions of GameStop stock price managed to ignite the meme-stock maina of 2021 that eventually resulted in a short squeeze. In fact, owing to the hype, the exchanges like Robinhood had to place restrictions and limit trading associated with meme stocks.

Owing to the fluctuations, the Congress stepped into the picture and conducted hearings involving executives from different companies including Reddit, Melvin Capital, Citadel and Robinhood. Even Gill was questioned. In his testimony to the House Financial Service Committee, Gill infamously asserted that he was not a cat. Retrospectively, several users now welcomed him back by tossing greetings along the lines of “Hey, it’s the guy… who’s not a cat.”

A meme coin named Roaring Kitty [KITTY] registered a whopping 8693% pump in a single day, with its volume traded oscillating in the $19-$20 million bracket.

Source: DEX Screener

During the pre-market hours, even stock prices started roaring. GameStop was up 42%, while AMC tagged along by rising 16%. Several market participants, including Ansem, brought to light how the masses are not yet accustomed to the crossover between the internet/social media and finance. Gill did not mention anything about any stock in specific, yet, prices have already started going parabolic.  

In January 2021, GME’s stock price created an intraday peak at $120.75. Retail interest failed to sustain and the price collapsed. Last month, it hit a three-year rock bottom of $9.9. However, with the tides now reversed in its favor, GME shot up by 99.7% in just a matter of a few minutes after the U.S. markets opened. Its trading has been halted five times already until now. In the words of market participants, “Guess, it is indeed time to buckle up.”

GME price action | Source: Google Finance

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