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“Roaring Kitten” provoked a 6000% increase in the KITTY meme coin

On May 13, a trader made a 32x profit on the KITTY meme token after awakening financial analyst Keith Gill's X account (The Roaring Kitty), which sparked a retail trader “war” against Wall Street in 2020. Lookonchain analysts drew attention to this.

The user spent 21.1 SOL ($3000) to buy 17.4 million KITTY shortly before Gill tweeted his return.

Soon after, the price of the meme token increased by more than 6,000%. Then the trader sold 12.8 million KITTY for 294 SOL ($41,000), leaving 4.6 million KITTY ($56,000) on his balance sheet.

The profit was $94,000.

On November 29, 2020, The Roaring Kitty discovered hedge fund Melvin Capital was shorting shares of the GameStop (GME) chain. After this, users decided to buy securities in order to prevent large players from sinking the company.

Subsequently, top managers of companies involved in the scandal spoke at a hearing before the Financial Services Committee of the US House of Representatives.

At the peak of GameStop's growth, Keith Gill's own shares were valued at $48 million. His X account has been abandoned since 2021.


Source: Cryptocurrency

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