As an experienced analyst, I’ve closely followed the memecoin market and its various trends over the years. Roaring Kitty’s sudden return to social media sent shockwaves throughout the community, with his past involvement in the 2021 meme stock frenzy still fresh in everyone’s memory. The cryptic videos he posted, featuring cats and memecoin edits, triggered a surge in prices for cat-themed memecoins, as well as other popular memecoins.
On Monday, the well-known internet persona and trader known as “Roaring Kitty” unexpectedly returned to social media platforms, causing waves of astonishment and exhilaration throughout the crypto market.
I noticed a surge in the price of cat-themed memecoins within the last 24 hours, coinciding with a string of cryptic videos that were shared on various social media platforms, one of which was titled “catsm.” As an experienced crypto investor, I find it intriguing how these seemingly innocuous posts can have such a significant impact on the market.
Memecoin Frenzy And Market Reaction
As a dedicated crypto investor, I’ve come across an intriguing piece of news. The enigmatic figure behind the moniker “Roaring Kitty,” Keith Gill, recently resurfaced on social media after a three-year absence. To express my excitement, I shared the widely recognized “leaning forward in the chair” meme with my fellow investors.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
The price of GameStop’s meme stock (GME) surged by an impressive 201% within the last day, largely due to his return as a significant figure in the 2021 meme stock craze.
As a researcher studying memecoin markets, I’ve observed traders sharing intriguing video edits alongside images that significantly influenced the market. For instance, according to News BTC, Wolverine-inspired memecoins experienced remarkable growth after being featured in one of these traders’ edits.
As a market analyst, I observed notable gains for several major competitors within the memecoin sector during those specific hours. Pepe (PEPE) and numerous other leading dog-themed memecoins displayed positive returns on investment.
The popular memcoin with a frog theme has surpassed Solana’s daily trading volume in terms of volume, experiencing a significant boost of approximately 238% within the last day. (Or: The trading volume for the leading memcoin with a frog theme has eclipsed that of Solana, resulting in a substantial 238% increase in daily volume over the past day.)
In addition, astute investors profited handsomely by purchasing substantial quantities of PEPE tokens during the price rise. As reported by Lookonchain, one large investor acquired 195 billion PEPE tokens, equivalent to $1.98 million, and had already accumulated unrealized profits amounting to $236,000 just a few hours later.
Dog Days Are Over, Cat-Themed Memecoins Gain 16%
As a researcher studying the stock market trends, I’ve discovered an intriguing development that extended beyond the dog-themed memecoins following Roaring Kitty’s return. This influential trader incorporated several cat-related images and references into his edits, leading to a significant 16% increase in the value of cat-themed stocks.
Memecoins inspired by cats have seen a surge in popularity lately. Notable examples include MEW (Feline-equivalent of DOG) and POPCAT, which have entered the top 10 memecoins in the past month.
Roaring Kitty incorporated a segment from “Dog Days Are Over” by Florence + The Machine in their edited video. They highlighted these song lyrics: “The heat of the dog days is passed, those days have ended.”
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
He also incorporated cat pictures into the mix, hinting that the upcoming memecoin surge might favor cats over the customary canine themes.
Whales Hear The ROAR
According to Lookonchain’s recent report, there was a remarkable increase of around 13,000% for Roaring Kitty (KITTY) in addition to GameStop (GME). Similarly, other cat-themed tokens such as POPCAT, MichiCoin (MICHI), and Roaring Kitty (ROAR) experienced considerable growth.
Over the past day, Popcat experienced a 24.4% growth and a massive 276% surge in the monthly timeframe. On the other hand, MichiCoin recorded a significant leap of 38.9% in a single day and an impressive 333.5% rise since its debut on April 26. Additionally, both tokens have seen a substantial 80% spike in their daily trading volumes.
Some notable winners included tokens that mirrored the trader’s influence. The Ethereum token SOAR experienced an extraordinary gain, jumping from $0.00024830 to $0.0031338 within hours, equating to a stunning 1162% surge. This rapid rise also translated into a substantial 3216.8% increase in the weekly context, accompanied by a significant 826% uptick in daily trading volume.
According to the data in the report, whales capitalized on the situation and amassed large quantities of these tokens. One particular whale transferred Solana (SOL) from Binance and purchased approximately 490,400 Popcats, which was equivalent to roughly $235,472 in value.
A prominent investor, who had previously earned a profit of around $320,000 by investing 2,170 SOL in POPCAT, later invested an additional 4,000 SOL, or roughly $592,000. With this investment, the investor obtained 587,383 POPCAT tokens and 626,616 MICHI tokens at a cost of 2,000 SOL per token for each.
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2024-05-14 22:17