Around 2021, the "short squeeze" of GameStop stock became a legend in the US stock market. Roaring Kitty (real name Keith Gill), as the main promoter of this incident, led retail investors to fight against Wall Street short sellers through social media platforms such as Reddit, eventually causing well-known hedge funds to lose $5.05 billion. This battle not only spawned movies and documentaries, but also sparked heated discussions in the market about "resistance culture" and "low threshold trading."
Although this has no direct connection with the cryptocurrency world, the rebellious spirit represented by Kitty and Robinhood’s “low threshold trading” model coincide with the culture of the crypto community. The wave triggered by Kitty has promoted the rise of various MEME coins including DOGE.
Kitty's Return and Market Response
After a few years of silence, Kitty became active on social media again on May 13, 2024. A simple tweet instantly attracted 21.98 million reads and received 100,000 likes. This not only marked Kitty's return, but also reignited the enthusiasm of the MEME coin market. Kitty's continuous release of videos and tweets has caused MEME coins such as PEPE to heat up rapidly, even setting a record high.
The market generally speculates that Kitty's return is not just a few tweets, but a harbinger of further actions. Therefore, the concept currency around Kitty may usher in a new wave of narrative and hype.
List of Kitty concept coins
Although Kitty has not directly involved in the cryptocurrency circle, her influence has led to the rise of many MEME coins. The following are some relatively popular Kitty concept coins:
1. SOL Chain WSB (Wall Street Bets)
- Address: AkVt31h8vgji5wF4nVbq1QmBV5wBoe8JdSoDTkDhQwEw
- Introduction: A currency based on the concept of the Wall Street Bets group on the Reddit forum.
- Data: 24-hour trading volume was US$3.19 million, with a single-day increase of more than 300%.
2. SOL Chain Kitty
- Address: EKEWAk7hfnwfR8DBb1cTayPPambqyC7pwNiYkaYQKQHp
- Introduction: MEME coin, named after Roaring Kitty, was born in March 2024. After a sharp drop, it has recently risen by more than 20,000%.
3. SOL chain GME (GameStop's MEME coin of the same name)
- Address: 8wXtPeU6557ETkp9WHFY1n1EcU6NxDvbAggHGsMYiHsB
- Introduction: MEME coin, named after GameStop, was born in January 2024 and its recent daily increase is close to 2000%.
- Data: 24-hour trading volume exceeds $110 million.
4. Ethereum Chain GME (GameStop’s MEME coin of the same name)
- Address: 0xc56C7A0eAA804f854B536A5F3D5f49D2EC4B12b8
- Introduction: A recently issued new coin with a 24-hour trading volume of US$2 million.
5. Base Chain GME (GameStop’s MEME coin of the same name)
- Address: 0xbeB0fd48C2BA0F1AacaD2814605f09e08A96B94E
- Introduction: Issued in April 2024, with a 24-hour trading volume of US$3.5 million.
Market Hotspots and Future Outlook
Currently, SOL chain GME seems to be the leader in this concept and deserves continued attention. In addition, PEPE has performed strongly recently, not only breaking through all-time highs, but also releasing a 25-minute long video, further stimulating market enthusiasm. It remains to be seen whether Kitty’s return will be linked to the currency circle and become the spiritual leader of Web2 for a certain MEME coin. PEPE has risen significantly, which may be the result of the market's early layout.
Suggestions and notes
1. Follow Kitty’s updates: Follow Kitty’s Twitter account (https://twitter.com/TheRoaringKitty)
, to see whether it is linked with the cryptocurrency circle, which is more forward-looking than a simple wool party strategy.
2. Pay attention to the MEME currency market: MEME coins are usually active in bear markets because mainstream currencies lack stories and momentum. During this period, MEME currency may behave very crazy, and the phenomenon of fund grouping is obvious. If there is the promotion of spiritual leaders, the rise of MEME currency may be difficult to stop.
3. Cross-market investment strategy: Consider the investment strategy of currency-stock linkage, such as AI stocks and Web3’s AI tokens, GME stocks and
GME MEME coins, etc., can look at the market from multiple dimensions and increase your chances of winning.
Recommended Movies
- "Stupid Money": A movie adapted from the GME incident.
- "Eating the Rich: The GameStop Saga": a documentary on the same subject.
Twitter influencer @Rocky_Bitcoin provided some movie recommendations:
1. Attach importance to MEME culture: In the global economic and political turmoil, the awakening power of rebellion and free will cannot be ignored.
2. Follow opinion leaders: The movements of opinion leaders often indicate market trends.
3. Use tools and tap into social value: Make good use of tools and tap into the potential value of social platforms.
4. Cross-market investment: Cross-market investment strategies can bring greater returns.
