Keith Gill, the ‘Roaring Kitty,’ stirred the crypto space with his comeback and lifted GameStop Stock to 74.40% in a single day.
A post from Keith Gill’s account seeks the attention of traders and investors as the GameStop (GME) stock surged 74.40% in a single day. The retail trader hinted at his comeback by posting a meme on X, indicating at a big memecoin rally.
The Comeback of the Meme-Stock Guru
On May 13, Keith Gill, who went dark on social media on June 19, 2021, publicly appeared through a tweet on X. As he was at the center of the GameStop saga in 2021, his comeback influenced the meme-stock market, especially the GameStop stock.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
Over 10K comments and 23.3 Million views on the tweet showcase his popularity in the meme-stock market. The tweet spiked GME stock price, hitting over $30.45 after a surge of 74.40% in a day.
The influence of the same is observed on other memecoins, including Dogecoin (DOGE), Pepe (PEPE), and Shiba Inu (SHIB). Curb, crypto enthusiasts took to X to discuss the sudden boom in the memecoin world.
$GME + MEME COIN SUPER CYCLE
— Curb◎ (@CryptoCurb) May 13, 2024
to those saying "bruh what does $GME moving have to do with $crypto & Meme Coins"$GME arguably kick-started the 2020 meme run
profits flew from $GME -> $DOGE (see chart)$GME pumping is hugely bullish/risk-on MEME COIN SUPER CYCLE.. RUN IT! pic.twitter.com/NXQDjzxQPH
Curb compared different memecoins, including GME, DOGE, PEPE, etc., and hinted towards a next big memecoin rally.
Is It the Meme-Stock Time Again?
Gill’s post sparked the memecoin market and spiked a few coins’ prices. GEM, a meme token utilizing GameStop’s name, logo, and ticker, experienced a rise of 318.0%, reaching $0.01113 in a single day.
At the press time, DOGE recorded a spike of 6.5%, hitting $0.1523, whereas SHIB reached $0.00002382 after a 5.3% rise. In the same way, PEPE was trading at $0.00001071 after a 21.6% surge in a day.
Expectations From The Q1 2024 Earning Report
As GameStop stock outperformed, investors and traders expect something positive from the upcoming earnings report. GameStop’s Q1 2024 earning report is expected on 5 June 2024 with an estimated earning of $0.09 in negative and over $1.045 Billion in revenues.
However, the Q4 2023 earnings and revenue report wasn’t up to expectations, documenting a drop of 25.42% in earnings.
