According to CoinDesk, the return of TheRoaringKitty, also known as Keith Gill, to social media has sparked a surge in Wolverine-related meme coins across several blockchains. This surge occurred immediately after Gill posted a video of the X-Men character on the X social media platform. In addition to Wolverine, several tokens related to GameStop and Melvin Capital have also been issued.
Following Gill's post, over 30 new tokens were launched on pump.fun, with others also being introduced on Ethereum and Solana, as reported by Dextools. Gill's return to social media after a three-year hiatus, marked by a meme suggesting a regained focus, led to a widespread rally in meme stocks and a volatile weekly open for the GameStop stock (GME) and several cat-related meme coins.
Meme coins have played a significant role in the recent cryptocurrency bull market, following the success of dogwifhat (WIF) and bonk (BONK). Many of these tokens have seen their market cap surge to over $1 billion as investors seek the next dogecoin (DOGE) or pepe (PEPE).
However, not all newly minted meme coins have enjoyed sustained success. Some have faced sharp declines shortly after their launch as bad actors drain liquidity to capitalize on the meme coin hype. Gill's return could potentially introduce a new narrative to meme coin trading. The immediate rise in X-Men characters and meme coins related to GameStop and Melvin Capital, the hedge fund that was squeezed out of a GME short three years ago, indicates a clear crossover from Gill's traditional finance following to crypto meme coins.