GME and KITTY Tokens Surge Amid GameStop Stock Rally

On May 28, meme coins GME and KITTY rose by 19% and 55% respectively, alongside GameStop shares, which gained approximately 25%.

According to CoinGecko, both coins have since seen a price decline after the initial surge. At the time of writing, GME is trading at $0.004658, while KITTY is at $0.003511. 

After the close of trading on May 28, GameStop shares were valued at $23.78 on the NYSE.

GME is a meme token that uses the same ticker as GameStop shares. KITTY is named after former financial analyst Keith Gill, who goes by the pseudonym The Roaring Kitty. 

The expert and WallStreetBets subreddit participant is known for sparking the 2020 “war” of retail traders against Wall Street. On May 13, 2024, GameStop and AMC stocks rose by more than 75% following Gill’s unexpected return. 

Simultaneously, the broader meme token segment also saw growth. Over the past day, the total market capitalization of the sector increased by 6.6% to $72.4 billion. 

The SHIB coin rose by 16% over 24 hours, reaching the 11th spot among the largest cryptocurrencies. WIF increased by 21%, while the “political” meme token MAGA rose by 27%. 

The GMCI Meme index increased by 19% over the week and has gained 323% since the beginning of the year. 

Back on May 13, a trader achieved a 32-fold profit on the KITTY meme token following the reawakening of The Roaring Kitty.

Later, ForkLog reported that a long-term SHIB investor earned over $1 million from the coin over three years.