Roaring Kitty News: Return Sparks Surge in Chewy and GME Tokens
- Roaring Kitty's return led to a nearly 30% surge in Chewy's price.
- GME token saw over 93% increase, while Roaring Kitty token spiked by 65%.
- The sustainability of these gains remains uncertain, with historical data showing short-lived rallies.
Roaring Kitty Comeback News: What’s the Impact?
The recent return of Keith Gill, also known as "Roaring Kitty," has caused a stir in the cryptocurrency world, particularly with dog-themed memecoin Chewy (CHWY). Roaring Kitty Twitter post surged pice of various memecoins.
On September 6, after a two-month hiatus, Gill shared an image from Toy Story where Woody, the beloved toy, was replaced with the Chewy token logo.
This post led to a nearly 30% surge in Chewy’s price, trading above $0.011. At the time of writing, CHEWY token was trading at $0.0111076 with $45,246.91 in market cap and $56,125.48 in 24-hour volume.
Despite this rally, Gill’s message seemed to hint at dropping Chewy rather than endorsing it, suggesting a potential departure from his role at the Chewy company. This speculation arises from Gill's previous 6.6% ownership in Chewy, the online pet food retailer, and his influence on the creation of multiple Chewy-related memecoins.
Impact on GameStop (GME) and Roaring Kitty Tokens
Gill's influence extends beyond Chewy, impacting the GME crypto token and the Roaring Kitty (KITTY) token. On September 6, GME saw a 93% increase from its intraday low, reaching $0.0052, and marking a 168% rise from its August low.
Currently, the token price is trading at $0.004608, after an intraday surge of 16.62% and $16,222,999 in 24-hour volume. The market cap of GME token now exceeds $31 million. Simultaneously, the Roaring Kitty token spiked by more than 65%, after the post and currently hovering at $0.00035.
Despite these gains, the sustainability of GME and KITTY tokens remains uncertain. Historical data shows that similar rallies have been short-lived. For instance, GME surged from $0.0035 to $0.029 in May but dropped to $0.0017 by August.
Gill's recent activities and the upcoming GameStop earnings announcement on September 10 have generated significant market excitement. This return of Roaring Kitty has rekindled interest in memecoins and Roaring Kitty stocks associated with him, demonstrating Roaring Kitty portfolio and powerful influence of social media on market movements.
Conclusion
Keith Gill's return has reignited interest in memecoins like Chewy and tokens such as GameStop and KITTY, demonstrating the potent impact of social media. However, the sustainability of these rallies remains uncertain, underscoring the volatile nature of markets driven by social sentiment rather than fundamental analysis. Roaring kitty net worth is over $289 million, which showcases his strong presence in the market.
