- GME memecoin has posted massive gains.
- The rally came after the “Roaring Kitty” posted on X for the first time in nearly three years.
- GameStop’s stock also surged on the tweet.
The memecoin market has emerged as a winner in the last two days despite the broader market downturn that pushed the prices of established crypto assets like Bitcoin down. Notably, GME posted massive gains on Tuesday following the return of the popular “Roaring Kitty” account on X (Twitter).
GME is a Solana-based meme coin created in January this year as a tribute to GameStop, shortly after the gaming retailer announced plans to withdraw from the crypto industry and shut down its two-year-old NFT marketplace.
GME’s Wild Rally to New All-Time Highs
According to CoinGecko data, the GME memecoin traded 460% higher on May 14 after skyrocketing by an outstanding 1,900% on Monday. As of press time, the memecoin was exchanging hands at $0.01614, up over 2,914% from its price 30 days ago.
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GME’s market cap stood at $111,099,251 with a 24-hour trading volume of $220,740,703 at last check.
While GME borrows GameStop’s stock ticker, the meme coin has no official affiliation with the company. The company’s stock also posted triple-digit gains after Roaring Kitty’s first tweet after a nearly three-year hiatus.
Believed to be operated by Keith Gill, the Roaring Kitty account was at the epicenter of the 2021 GameStop Short Squeeze, which saw the GameStop stock surge over 1,000% in less than a month. At last check, the account had over 1 million followers.
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Read about Dogecoin’s recent performance:
Dogecoin Gets 62% Boost on Derivatives as Bulls Regain Control
Stay updated on Coinbase’s recent “system-wide” outage:
Coinbase Suffers Critical Outage: Were Your Funds Safe?
