Roaring Kitty's Action Shakes GME Token Prices, Again!

Bittime - Keith Gill, the controversial trader known by the social media name Roaring Kitty, has again shaken the price of the GME token. A recent upload on the official account has again caused the price of GameStop-themed memecoins to fluctuate.

Which Happened to GME Token

On Sunday evening, Roaring Kitty shared the opening scene of Christopher Nolan's "The Dark Knight" via his X account. This post, as usual, immediately had an impact on the price of the GameStop memecoin.

According to CoinMarketCap, the price of this memecoin based on the Solana blockchain soared 14% in just a matter of minutes. Apart from that, GameStop memecoin trading volume also jumped 38% to IDR 3.6 trillion (equivalent to $225 million) in the last 24 hours.

Why Is This Important for the GME Token?

Roaring Kitty's social media posts are known to be effective in influencing market movements, both traditional markets and crypto markets. Last week, his "Reverse Uno Card" upload triggered a threefold increase in GameStop (GME) stock prices.

However, Roaring Kitty's actions don't always bear sweet fruit. The YouTube livestream that was heralded last week actually disappointed investors. Instead of getting answers, investors are bombarded with unanswered questions.

This disappointment may make traders wary of Roaring Kitty "bets." This can be seen from the GME memecoin price movement which is relatively moderate compared to last week.

Not only that, most cat-themed cryptocurrencies, including Kitty AI (KITTY/USD), also have the same fate: their prices are plummeting. In fact, these cryptocurrencies also skyrocketed last week due to "Roaring Kitty fever."

GME Token Price Movement

When this article was written, the price of the GameStop memecoin was around IDR 336 (equivalent to $0.0208), according to data from Benzinga Pro. Meanwhile, GameStop's share price in the after-hours market actually fell 3.82%.

Even in regular trading last Friday, GameStop shares closed 39.4% lower at IDR 455 thousand (equivalent to $28.22).

This event is a reminder that the crypto market, especially memecoins, is very volatile and susceptible to sentiment. Roaring Kitty's action, even though it was able to increase the price of the GameStop memecoin in a short time, does not necessarily guarantee long-term profits.

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Learn How to Buy Crypto on Bittime.

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