Popular internet personality and trader “Roaring Kitty” made an unexpected return to social media on Monday, sending the cryptocurrency market into shock and excitement.
His reply was followed by a series of cryptic videos, including catsm, which appeared to drive the price of the cat-themed memecoin higher over the past 24 hours.
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Memecoin mania and market reaction
Keith Gill, known as “The Roaring Kitten,” has returned to social media after three years, posting the popular “Chair Lean Forward” meme.
– The Roaring Kitty (@TheRoaringKitty) May 13, 2024
His comeback has pushed GameStop meme stock (GME) prices up 201% in the past day as he is a major player in the 2021 meme stock craze.
In addition to the images, the trader also shared a series of video edits that also fueled the memecoin market. Wolverine-inspired meme coins skyrocketed after one of his edits featured the Marvel character, News BTC reported.
Other large players in the industry saw green numbers in the coming hours, such as PEPE and many of the top dog-themed meme coins by market cap.
As part of a chain reaction, daily trading volume for the largest frog-themed memecoin flipped over for Solana (SOL), which saw a 238% increase in trading volume over the past day.
Additionally, smart traders benefited from price spikes after purchasing large amounts of the coin. According to Lookonchain, one whale bought 195 billion PEPE worth $1.98 million and within hours had made $236,000 in unrealized profits.
Dog Days are over, cat-themed Memecoin rises 16%
The impact of Roaring Katie’s return isn’t limited to dog-themed meme coins. The trader’s edit included several images and references to cats, sending the cat-themed sector soaring 16%.
Feline-inspired memecoins have grown in popularity during this cycle, with tokens like CatDog (MEW) and Popcat (POPCAT) making the top ten memecoin lists in the past month.
One of Roaring Kitty’s edits includes a snippet of Florence + The Machine’s song “Dog Days Are Over.” Alongside the video, the trader highlighted the lyrics: “The dog days are over, the dog days are over.”
– The Roaring Kitty (@TheRoaringKitty) May 13, 2024
Additionally, he added an image of a cat, seemingly suggesting that future meme coin rallies may be led by cat-themed meme coins rather than the usual dog-themed ones.
Whale hears roar
Lookonchain reported that Memecoin Roaring Kitty (KITTY) surged 13,000% along with GME. Other feline-themed coins including POPCAT, MichiCoin (MICHI) and Roaring Kitty (ROAR) also saw significant gains.
Popcat is up 24.4% and 276% on the one-day and monthly time frames, respectively, while MichiCoin has surged 38.9% over the past day and 333.5% since its launch on April 26. The volume has also increased by 80%.
The biggest gainers were tokens inspired by traders. Ethereum-based SOAR surged by more than 1,162% in a matter of hours, rising from $0.00024830 to $0.0031338. This surge also represents a massive increase of 3216.8% on the weekly time frame, with a similar increase of 826% in daily trading volume.
According to the report, whales took advantage of the momentum and filled their bags with these coins. A whale withdrew SOL from Binance and purchased 490,400 POPCAT, worth approximately $235,472.
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Another big player previously made 2,170 SOL (approximately $320,000) on POPCAT and spent another 4,000 SOL (approximately $592,000) on POPCAT and MICHI tokens. The whale purchased 587,3830 POPCAT for 2,000 SOL and 626,616 MICHI for the same amount.
Featured image from Unsplash.com, chart from TradingView.com
