On Monday, popular internet personality and trader “Roaring Kitty” made a surprise return to social media that shook and excited the crypto market.
His comeback message was followed by a series of cryptic videos, including catsm, which apparently fueled a price increase in cat-themed memecoins over the past 24 hours.
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Memecoin frenzy and market reaction
Keith Gill, known as 'The Roaring Kitty', returned to social media after a three-year hiatus by posting the popular 'leaning forward in chair' meme.
– Roaring Kitten (@TheRoaringKitty) May 13, 2024
His return propelled the price of GameStop's meme stock (GME) to surge 201% over the past day, as he was a major player during the 2021 meme stock frenzy.
Alongside the image, the trader shared a series of video montages that also fueled the memecoin market. As reported According to News BTC, Wolverine-inspired memecoins skyrocketed after featuring the Marvel character in one of its edits.
Other big players in the industry saw green numbers in the following hours, like Pepe (PEPE) and many of the largest market cap dog-themed memecoins.
As part of the ripple effect, the largest frog-themed memecoin has reversed Solana (SOL) in its daily trading volume, seeing a 238% increase in volume over the past day.
Additionally, smart traders took advantage of the rally after purchasing large amounts of tokens. According to Lookonchain, a whale bought 195 billion PEPE, worth $1.98 million, and had already made $236,000 in unrealized profits a few hours later.
Dog Days Are Over, Cat-Themed Memecoins Gain 16%
The impact of Roaring Kitty's return didn't stop at dog-themed memecoins. Several images and references to cats were part of the retailer's changes, fueling a 16% increase in the cat-themed sector.
Feline-inspired memecoins have gained popularity during this cycle, with tokens like cat in dog word (MEW) and Popcat (POPCAT). join the list of top ten memecoins from last month.
One of Roaring Kitty's edits included a fragment of the Florence + The Machine song “Dog Days Are Over”. Alongside the video, the trader highlighted the lyrics: “The dog days are over, the dog days are over.” »
– Roaring Kitten (@TheRoaringKitty) May 13, 2024
Additionally, he added images of cats, seemingly insinuating that a future memecoin gathering might be led by cat-themed memecoins instead of the usual dog-themed ones.
The whales hear the roar
Lookonchain reported that, alongside GME, the memecoin Roaring Kitty (KITTY) soared 13,000%. Other feline-themed tokens, including POPCAT, MichiCoin (MICHI), and Roaring Kitty (ROAR), have also seen significant increases.
Popcat saw an increase of 24.4% and 276% over one-day and monthly periods, while MichiCoin surged 38.9% over the past day and 333.5% since its launch on the 26th. april. Both tokens also saw an 80% increase in daily trading. volume.
Among the top gainers were trader-inspired tokens. Ethereum-based SOAR soared over 1,162% in a matter of hours, from $0.00024830 to $0.0031338. This increase also represents a massive increase of 3,216.8% over the weekly period, with a similar increase in daily trading volume of 826%.
According to the report, whales took advantage momentum and loaded their bags with these tokens. A whale withdrew SOL from Binance and purchased 490,400 POPCAT, worth approximately $235,472.
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Another big player, who had already earned 2,170 SOL, or approximately $320,000, on POPCAT, spent another 4,000 SOL, or approximately $592,000, to purchase POPCAT and MICHI tokens. The whale acquired 587,3830 POPCAT for 2,000 SOL and 626,616 MICHI for the same amount.
![Memecoins, POPCAT, POPCATUDT](https://www.newsbtc.com/wp-content/uploads/2024/05/POPCATUSDT.P_2024-05-14_08-26-37.png?w=860&resize=860%2C508)
Featured image from Unsplash.com, chart from TradingView.com