Solana memecoin GME pumps 460% in a day as 'Roaring Kitty' reappears
Quick Take
- The GME memecoin, which borrows GameStop’s stock ticker but has no official affiliation with the company, traded more than 460% higher on Tuesday.
- In equity markets, GameStop shares surged 120% in the pre-market session, following new activity on Keith Gill’s @TheRoaringKitty account on X.
The GME memecoin, which borrows GameStop's stock ticker but has no official affiliation with the company, traded more than 460% higher on Tuesday, according to Coingecko data.
The memecoin's significant gains come after GameStop stock posted a triple-digit rally after Keith Gill’s @TheRoaringKitty posted on X for the first time in nearly three years. Gill and the subreddit WallStreetBets were at the center of the 2021 meme stock frenzy.
"While the general market continues to drift off into the summer, GME has emerged after a long slumber, pumping 80+% yesterday off the back of Roaring Kitty's tweet," QCP Capital analysts said.
Gamestop memcoin. Image: CoinGecko
In equity markets, shares of GameStop and AMC are on track to extend the previous day's big gains. On the New York Stock Exchange, shares of the video game retailer were set to open 120% higher, while those of the movie theater chain rose by 100%, according to TradingView data.
Other so-called "meme stocks" were also poised to open sharply higher on Tuesday, signaling that the pandemic-era meme stock frenzy could be returning.
The GMCI Meme Index, which tracks the largest memecoins by market cap, was up 7.65% at 308.52 at publication time.
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