The leading video game retailer GameStop Corp (NYSE: GME) stock skyrocketed by 70% after a single post was published by retail trader Keith Gill with his X (previously Twitter) handle @TheRoaringKitty. This is the first time in many years that GME stock has made such a significant move in a single day. Keith Gill’s single post on Monday sparked rallies in GME stock as well as cat-themed meme coins. However, GameStop’s prices shot up by as much as 44% before the market opened.
Source: Google-finance Solana-based GME soars 1,530%
Meanwhile, an unrelated GameStop-themed digital currency, GME, on the Solana blockchain also skyrocketed by 1,530%, and is currently trading at $0.0080, according to data from CoinMarketCap. Additionally, smaller cat-themed digital currencies like Kitty (KITTY) saw massive value increases, rising by thousands of percent.
Besides GME’s recent price surge, if we look at the performance over a longer period, in the last year it experienced only a 52% upside momentum. Additionally, it is still lower than its all-time high of $0.0123. Recent data indicates that developers seized the opportunity to create a range of tokens related to Gill, TheRoaringKitty, GameStop, and the popular internet term “stonks” (used humorously to refer to stocks), all within the last 24 hours.
Crypto-meme industry performance after GameStop record jump
This massive price surge in GME stock also led to a surge in the overall crypto-meme industry by 3%, and at the same time, the 24-hour trading volume also increased by 73%, highlighting investors’ attention and interest in meme coins. Top meme coins including Dogecoin (DOGE) and Shiba Inu (SHIB) experienced a price surge of over 6%, whereas Pepe (PEPE), Bonk (BONK), and Floki (FLOKI) saw a massive price surge of over 10% after GameStop’s blast in the stock market.
The top meme coin PEPE is currently trading near $0.0000097, and in the last 24 hours, it experienced over 13% upside momentum. If we look at the performance of PEPE over a longer period, in the last 7 days, PEPE saw a 12% upside momentum. Whereas, in the last 30 days, despite bearish sentiment, PEPE experienced a 65% upside momentum.
