The Mysterious Code from Roaring Kitty Again Boosts the Price of the GME Meme Coin

2024-06-10
GameStop coin.png

Bittime - Remember the GameStop (GME) meme coin phenomenon whose price skyrocketed last year? This crypto asset is back in the spotlight after controversial trader Keith Gill, or known as Roaring Kitty on social media, uploaded a new post that sparked wild speculation.

The excitement started with Roaring Kitty's upload on his X account on Sunday night. The post shows the opening scene from Christopher Nolan's film "The Dark Knight".

GME Coin Price Rises

Even though it looks simple, this post immediately had an impact on the price of the GME coin. According to CoinMarketCap, the price jumped 14% in just minutes. Not only that, GME trading volume in the last 24 hours also jumped 38% to IDR 3.6 billion (assuming $1 = IDR 16,000).

Why is Roaring Kitty's post getting attention? It turns out, this trader is known to often influence price movements, both in the traditional stock market and the crypto market. Last week, for example, his "Reverse Uno" card upload successfully tripled the price of GME.

However, Roaring Kitty's influence is not always positive. Last week, the price of GME actually fell 60% after the YouTube livestream session it held was considered disappointing. Investors who hoped to get clarity were actually confused by the session.

Market Response

This incident made market players start to be wary of Roaring Kitty signals. Moreover, prices of other cat-themed coins, such as Kitty AI (KITTY), are also weakening. In fact, these coins also saw their prices increase last week due to "Roaring Kitty fever."

When this article was written, the GME coin price was around IDR 0.33 (at $0.0208). Meanwhile, GameStop's share price actually fell 3.82% in the after-hours trading session, and closed 39.4% lower at IDR 451,552 (at $28.22) in regular trading on Friday.

Conclusion

It is still too early to confirm whether the mysterious Roaring Kitty code this time will soar the price of GME coins again. However, one thing is certain, the post succeeded in attracting attention and triggering high trading activity.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.

To be able to buy crypto assets at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Learn More about the How to Buy Crypto Guide on Bittime.

Monitor graphic movement Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.

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