This Solana Meme Officially Rocketed Coin: On Investors' Radar With 1,500% Rally!

The price of the meme coin Chewy (CHWY) on the Solana blockchain has increased by over 1,500% in the last 24 hours. Data from DEX Screener reveals that CHWY's market value approached $10 million after this unexpected increase. Launched on June 27, CHWY experienced a dramatic rise. It first rose over 13,500%, then dropped 96% and is now up 15x in value.

However, there is an obvious catalyst for the recent price increase: Keith Gill, better known as Roaring Kitty, is trading with Chewy Inc. in a new SEC filing. announced its 6.6% stake in the company. Gill gained fame for his role in the GameStop short sale in 2021. It's also worth noting that Chewy is an online retailer specializing in pet food and products.

Interestingly, Gill shared a photo of a cartoon dog on a blue background on X three days before the meme coin's rise. Coincidentally, the Solana meme character Chewy also appeared around the same time.