Why is GameStop Price Rising Today - The Story Behind

Why is GameStop Price Rising Today? Know The Reason

Why is GameStop Price Rising Today? Everything You Need To Know

Roaring Kitty and GameStop - many might not be aware of the connection. However, those aware would understand why a recent Roaring Kitty’s X post has got the GameStop price rise.

The GameStop’s token GME is, however, still 87% away from reaching its prime value.

The Story Goes Like This…

A famous financial analyst and investor, Keith Gill, popularly known as ‘Roaring Kitty,’ has a high fan following for his price predictions and price analysis. He once helped the game retailer GameStop during its financial crisis by investing $53k and even promoting the business’ stock. GameStop hence came out of the tough times.

However, Gill soon disappeared from the internet for three years. He re-emerged in May 2024, when his first post sparked a price rise for GameStop. Its stock price rose by 50%, also significantly influencing the GME crypto.

Now, as a result, everytime Gill posts anything, the token is expected to rise, and the hope of heavy profits reemerges. 

Having done with the storytelling, you may know that the GameStop token comes from the popular video game retailer GameStop.inc. 

The Matter

Roaring Kitty recently posted a GIF on X that featured Rick James. Although the post has had no connection with GameStop, the GME price has surged 43% to $9.81M - now you can understand why. Increased trading activity rose network activity and pushed the price 10% within a day.

The token is currently trading at $0.00395 with a market cap of $27.19 million. Interestingly, another GameStop-inspired coin also surged 350%.

GameStop (GME) is a Solana meme coin. Though it surged heavily, substantial price drops are also not uncommon with the GME token. Its prime $0.03201 was in July 2024, however the recent 10% surge is an attempt at recovery that might help retain investor interest. If Bitcoin price also regains bullish momentum, GME could recover further.