The Highly Awaited Broadcast is Over, Meme Coin Prices Have Been Halved

Meme coins, which tripled in value in a few days, lost up to 50% of their value.

Roaring Kitty, the legendary investor of 2021, broadcast live for the first time in three years.

Meme coins are on the decline

Many meme coins inspired by the GameStop craze lost up to 50% in value.

Keith Gill (Roaring Kitty), who made GameStop and AMC shares soar during the pandemic, shared his GameStop positions during his 45-minute broadcast. More than 600 thousand people watched the broadcast.

According to CoinGecko data, meme coins named GME and ROAR lost 24% and 31% of their value, respectively, when the broadcast ended, compared to their prices before the broadcast started. These had risen by up to three times the previous day.

None of these meme coins are officially affiliated with Roaring Kitty. Solana-based GME uses the same ticker as GameStop (GME) but is not affiliated with the company in any way.

Shares of GameStop, traded on the New York Stock Exchange (NYSE), lost 40% of their value.

Some commentators suggest that Keith Gill manipulated the market. According to WSJ, E*Trade is considering banning Roaring Kitty from using the platform on the grounds that it manipulates the market.

During the day, in addition to meme coins, there was a 3.5% shrinkage in the cryptocurrency market in general.

Note: I mentioned an important project in the pinned tweet. I definitely recommend you to read it.