Roaring Kitty— the Reddit WallStreetBets investor/analyst who led an explosive meme stock rally for Gamestop shares in Jan. 2021 (from under $1 to $81 dollars) –just posted to X.com for the first time since it was still Twitter nearly three years ago, awakening the sleeping meme stock crowd and sending Gamestop shares (NYSE:GME) soaring 70% on Monday.
Will cat altcoins like Ethereum’s PopCat ($POPCAT), Catcoin ($CAT), and Kai Cat ($KAI) follow suit and rally on Gamestop’s coattails?
Cat Meme Leads Dog Peers On The Coin Charts
PopCat is up over 16% in just 24-hours following Roaring Kitty’s update: a meme of a gamer furrowing his brow and leaning forward in his chair as he pushes the thumb yokes on his game controller forward. Kai Cat is still in presale, so its price hasn’t moved yet on the news, and $KAI tokens are still available at the premarket price under $0.005.
Back in 2021, the meme stock rally that 81x’d Gamestop shares in a matter of days made meme investors such enormous gains in so short a time span that it drew scrutiny from the SEC and the Secretary of Commonwealth in Roaring Kitty’s home state. The state regulator asked the SEC to pause Gamestop trading because the price was “irrational.
By October 2021, the Securities and Exchange Commission issued a 45-page report stating that, “People may disagree about the prospects of GameStop and the other meme stocks,” but without concluding that any market manipulation had occurred.
GameStop Inspires Meme Coin Investors
Meme coin traders in crypto exchange markets must have been emboldened by the SEC’s tacit approval of meme investing in the case of Gamestop, because Dogecoin launched over 6,400% from under a penny per DOGE in January of that year to $0.64 a coin by May.
The enormous and sudden gains posted by the Gamestop frenzy prompted a conversation on the investing pages about what a “meme stock” even is, which Business Insider concluded was pretty much just a popular stock.
Since then “total degenerate” investors have fearlessly plowed their Bitcoin, Ether, Cardano, and Ripple earnings into meme coins like DOGE, SHIB, FLOKI, and BONK, earning or losing previously unheard of percentages in the investing world depending on when they invested in these cryptocurrency success stories.
A Reason To Take A Look At Ethereum $KAI Coin
Investors who bought meme tokens off crypto exchanges during their cycle peak prices lost their money to those who bought early in the game. That’s why crypto “degens” tell beginning investors to do their research and learn how supply/demand economics and liquid exchange markets work, as well as the ins and outs of crypto.
Another way crypto investors in the blockchain industry aim for the meme segment’s massive gains is being afraid to buy when a coin is up by “irrational” percentages and eager to buy after a coin price returns to earth and to invest in new projects before they rally.
PopCat, for example, has already surged by +3,400% in Q1 of 2024, so it could do it again. KaiCat, another Ethereum meme coin favored by Internet cats, is a new project in its premarket stage. So far it has raised over $230,000 in ETH and BNB tokens from meme coin investors.
Stay Connected With KAI On Socials: X | Telegram
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