Cryptocurrencies and actions associated with Roaring Kitty rose on Wednesday after the famous trader expressed his apparent wish for “Merry Christmas.”
What happened
Keith Gillbetter known online as Roaring Kitty, became active on this special day after he posted a picture of a beautifully wrapped gift.
The message conveyed his Christmas wishes and was not as cryptic as some of his previous social media posts.
— Roaring Kitty (@TheRoaringKitty) December 25, 2024
The frenzy broke out immediately. The actions of GameStop Corp. (NYSE:GME), linked to the historic 2021 Roaring Kitty short squeeze, jumped 7.68% in overnight trading on Robinhood to $33.50.
More Read
Similarly, the meme Cryptocurrency by the name of GameStop (GME) rose 5% to a market capitalization of $31.26 million, as reported by CoinMarketCap. The cryptocurrency based on Ethereum (CRYPTO:ETH) saw a 43% increase in trading volume in the last 24 hours.
Another cryptocurrency, Kitty Inu (KITTY) soared 17.96% in the last 24 hours.
Read also: Nvidia (NVDA) Stock in Uptrend: What to Expect If It Breaks $145 Resistance?
Why is it important
Notably, these meme cryptocurrencies have no fundamental ties to GameStop or Roaring Kitty, but are instead just playing into speculation of a meme stock short squeeze and a possible repeat of the 2021 event.
Roaring Kitty’s social media posts have dramatically moved the traditional and cryptocurrency markets in 2024, especially after her return in May.
The trader has shared position updates on Reddit and even hosted a live show on his YouTube channel during market hours.
GameStop price movement
GameStop shares closed 0.78% higher at $31.14 during the regular trading session on Tuesday, according to data from Benzinga Pro.
Read also: Cryptocurrencies retain gains on Christmas: Bitcoin and Ethereum lead global market
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