Solana-based Chewy (CHWY) project jumped as much as 500% on Monday after meme stock trader Keith Gill, known as "Roaring Kitty," disclosed his 6.6% stake in online pet retailer Chewy Inc. via an SEC filing. rose. Solana's Chewy token doesn't have much of a function other than a speculative bet on the rapidly growing memecoin ecosystem. 🚀

On June 27, Roaring Kitty posted a cartoon-style dog photo on X. Anonymous developers created the Chewy meme token between June 27 and 28, using Gill's social media post as the central theme.

Although the project has not been officially linked to Roaring Kitty, Chewy became the last Solana memecoin to record gains linked to Roaring Kitty. Similar activity was seen with the Roaring Kitty-inspired memecoins GME, KITTY, and ROAR.

Solana's CHWY earnings coincided with a legal battle for Roaring Kitty. The famous GME trader is facing a class-action lawsuit from Martin Radev. The complaint alleged that Gill manipulated GameStop stock by orchestrating a “pump and dump” campaign through bizarre social media posts on Reddit and X.