Who Is Roaring Kitty And Is His Return Bullish For Cat Meme Coins?

On-chain analytics platform Lookonchain shed light on how retail trading legend Roaring Kitty played an important role in the GameStop GME/USD stock surge of 2021 and what his return could mean for meme coins.

What Happened: Lookonchain notes that Roaring Kitty’s return caused a stir in the meme coin market.

The trader’s story began in 2019 when he started posting about GameStop being undervalued and purchased $53,000 worth of GME stock.

As more people joined him, the stock price soared, turning his investment into around $48 million by January 2021. In June 2021, he posted a video of a kitten falling asleep on Twitter before largely disappearing from social media.

On May 13, Kitty suddenly returned, posting a picture of a video gamer leaning forward on their chair. His return caused two meme coins, GameStop and Roaring Kitty KITTY/USD, to skyrocket by 2,500% and 13,000%, respectively.

This surge is reminiscent of the 2021 meme season, during which Roaring Kitty’s influence drove meme coins like Dogecoin DOGE/USD to new heights, setting its all-time high in May 2021.

Also Read: If You Invested $1,000 In GameStop Stock When ‘Dumb Money’ Was Released In Movie Theaters, Here’s How Much You’d Have Today

Why It Matters: Roaring Kitty’s latest videos mention "The Dog Days are Over, The Dog Days are Done," and feature cats, which could hint at a potential upcoming cat-themed meme season.

Lookonchain listed several cat-themed meme coins that could potentially become the next DOGE, including Popcat POPCAT/USD, Mew MEW/USD, Michicoin MICHI/USD, Mogcoin MOG/USD, Toshi TOSHI/USD, Wen WEN/USD, and Roaring Kitty KITTY/USD among others.

It has also identified several whales and smart money investors who have been buying these cat-themed meme coins.

What's Next: The influence of meme coins and Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: Roaring Kitty’s Timed Posts On X Ignite Fresh Rallies In GameStop, AMC, More Meme Stocks

Image: Pixabay