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Meme coin prices are skyrocketing following the dramatic return of legendary GameStop trader Roaring Kitty – the man responsible for the historic GME and AMC short squeeze.
A singular tweet from Roaring Kitty’s X account after 3 years sent the meme coin market into a frenzy.
Roaring Kitty comes back and memecoins start pumping pic.twitter.com/oyY6QWZCj0
— VIKTOR (@thedefivillain) May 13, 2024
Pepe coin reached a new all-time high in the aftermath, peaking at $0.0000109 with a market capitalization of $4.8 billion. The Dogecoin price is also on the cusp of a major breakout.
New meme coins continue to be in high demand as well. New Solana token Sealana has raised over $750k in its ICO and is being tipped as the next 100x meme coin.
Roaring Kitty Returns – GameStop Stock and Meme Coins Rally
For the first time in 3 years, Roaring Kitty posted an X post. The post provided no context, only containing the popular “leaning forward” meme.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
Apparently, that is all the investors needed to go on a buying spree of meme stocks and meme coins. The GME stock reached a new yearly high of $36.70 on Monday before closing trading at $30.44.
GME short sellers suffered a market-to-market loss of ~$1 billion, while GameStop’s CEO made over $488 million in notional profit yesterday, data from Quiver Quantitative reveals.
However, the stock is going parabolic during the pre-market hours, currently up 140%. Similarly, the AMC stock is up 110% in the pre-market.
⚠️ PREMARKET:$AMC +114%$GME +100% pic.twitter.com/JLm3m3CEVT
— Investing.com (@Investingcom) May 14, 2024
Even with the GameStop and AMC stock being halted several times, both tokens appear poised to skyrocket towards their respective all-time highs.
The bullish impact of the GameStop saga has carried over to meme coins as well.
The GME meme coin on Solana is up by 240% today on Tuesday, while a new token Gamestop Wif Hat ($GMEWIFHAT) is up 72,000% in the span of just a few hours.
Top meme coins such as Pepe and Dogecoin are also showing tremendous strength.
The Dogecoin price is up 5% to trade at $0.15 and is on the cusp of a major breakout.
Analyst Daan Crypto Trades highlights that Doge has held the $0.12 support level even during bearish conditions and is now poised for a bullish resurgence. He expects the top meme coin to trade as high as $0.26 in the coming days.
Meanwhile, the Pepe price has now more than doubled since hitting its local bottom in April. The Pepe coin is currently trading at $0.0000108 and could rally to $0.0000123 in the coming days.
New Meme Coin Sealana
The demand for new meme coins remains high, especially with the renewed GameStop saga attracting retail investment.
Experts are now tipping Sealana ($SEAL) to be the next big meme coin. This new meme coin is a South Park inspired satire on a stereotypical crypto degen, a description that is especially apt after the GameStop mania.
The Sealana mascot represents an overweight seal that is concerned only about finding the next big Solana meme coin, even if it has to live in its mom’s basement for it.
Crypto whales are not hesitant to invest in meme coins that make them laugh and Sealana is already attracting significant attention.
Popular YouTubers such as Cilinix Crypto have publicly purchased the new meme coin and Jacob Bury has signalled the possibility of Sealana being the best crypto to buy now.
It is therefore no surprise that the Sealana presale has raised over $750k in its first few weeks.
Interested buyers can simply send SOL tokens to the project wallet at the address below: DJ15ZYXqUNMYJ3hL7z4ciSaSFAw5cbos3YjGpdvwmF6c.
Alternatively, they can visit the sealana.io presale website and swap ETH, BNB or USDT tokens to buy $SEAL.
*Cryptonomist did not write the article or test the platform.
