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Roaring Back: Kitty’s Cryptic Clue Catapults GameStop Stock and GME Meme Coin
- Roaring Kitty, known for his role in the GameStop saga, returns with a cryptic tweet showing a blank PC screen, spurring market excitement.
- The tweet, hinting at a 2006 Time magazine cover, has been viewed over five million times, leading to widespread speculation.
- Following the tweet, GameStop’s stock rose by 5.92%, and related memecoins surged by 55%.
Roaring Kitty is back. Again. The man behind the GameStop saga, Keith Gill, has sent markets into a frenzy with…just a tweet…what else of course?
The post which has been viewed over five million times, shows a blank computer screen and a media player, likely YouTube. Without any explanations provided, speculations are circling around a Time cover from 2006, which made the public the Person of the year.
Related: Australian Youtuber Jamie Zhu Investigates Crypto Scams in Latest Video
The slogan at the time was: “You (Yes, You) Are TIME’s Person of the Year”, which is now missing from the tweaked tweet.
GameStop Memecoin Soars, Then Crashes
It’s Gill’s first social media post in three months and has caused some, perhaps expected, reactions.
The stock price of GameStop Corp. (GME) is up 5.92%, while crypto memecoins also rallied. GmeStop (GME) is among the largest gainers in the past 24 hours, gaining up to 55% and reaching US$0.00802 (AU$0.01241) at the highest point.
However, since that high it has retracted by 24%, trading for US$0.00614 (AU$0.00946) at the time of writing.
In September Gill posted an equally cryptic image, showing a dog photoshopped into a Toy Story scene. That too led to a memecoin rally, although short-lived.
In June, the stock prices of Chewy Inc. and Petco Health and Wellness Co. increased when Gill posted a cartoon dog image on X (formerly known as Twitter). He later revealed in July that he had a 6.6% stake, but according to an October SEC filing, he had sold all of his shares by that time.
Community At Odds with Gill’s Post
Roaring Kitty, also a Reddit user under the name of ‘DeepFuckingValue’, became famous when he identified significant short positions held by hedge funds against GameStop and rallied online communities to buy GameStop stock.
Related: Crypto Surpasses Stocks in South Korean Trading as Investors Seek Risk Exposure
This sparked a rapid stock price surge, drawing public attention. Hedge funds, facing massive losses on their short positions, were forced to buy GME themselves, further fuelling the frenzy.
The latest post by Gill has members of Crypto Twitter scratching their heads, as many try to interpret the meaning behind it.
Another user went down a different path, trying to ‘explain’ the post…well…differently:
Author
Aaron Feuerstein
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master's in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
