Cat-themed cryptocurrencies surged Thursday after controversial trader "Roaring Kitty" returned to social media with an intriguing post.
What Happened: Keith Gill, better known online as “Roaring Kitty,” posted a photo of a cartoonish dog, marking his first post since June 18. The photo shows a dog looking sideways, sticking its tongue out, without any captions.
As has been the case over the last month-and-a-half, cryptocurrencies with "Kitty" in their names began to surge.
Within minutes of the post, Solana SOL/USD-based Kitty AI spiked 34% to its weekly highs. While profit-taking halted the ascent, the coin still managed to record double-digit gains in the last 24 hours.
Similarly, Kitty Inu bounced more than 4% in the last 24 hours.
| Cryptocurrency | Gains +/- | Price (Recorded at 11:45 p.m. EDT) |
| Kitty AI KITTY/USD | +14.89% | $0.005677 |
| Kitty Inu KITTY/USD | +4.22% | $0.000003315 |
See Also: Top Trader Is Long Bitcoin, Ethereum, Short Litecoin, Cardano…And Thinks Shiba Inu’s Time Has Passed
Interestingly, the social post did not provide a significant boost to dog-themed memecoins like Dogecoin DOGE/USD and Shiba Inu SHIB/USD, both of which were up just 2.68% and 1.73%, respectively.
Why It Matters: The trader’s social posts have become one of the biggest drivers of stock and cryptocurrency markets lately.
Famously known for the 2021 short squeeze of GameStop Corp. GME, the legendary trader has been posting cryptic images, ranging from a sketched man leaning forward in a chair to the opening scene of Christopher Nolan’s “The Dark Knight.”
These posts have triggered massive spikes in kitty-themed cryptocurrencies and coins linked to GameStop.
Shares of GameStop closed 3.68% higher at $25.09 during Thursday's trading session, according to data from Benzinga Pro.
His latest dog post also triggered a significant rally in pet stocks, including Chewy, Inc. CHWY and PetMed Express, Inc. PETS.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
