Another Roaring Kitty post boosted the GameStop price, yet the token remains 87% below its peak.
The GameStop token is a reference to the renowned video game retailer GameStop. Inc.
Despite the absence of a direct connection, investors have continued to generate excitement regarding the GameStop price, which has resulted in the achievement of numerous milestones in the crypto market.
Interestingly, the token has experienced a substantial increase in the past 24 hours, indicating that it is on the rise once more.
GameStop Price Increased By 10%, Result Of Roaring Kitty’s Tweet
The crypto investor’s enthusiasm is increasing as the new year commences. In a similar potential mindset, Roaring Kitty resurfaced online and shared a Rick James-themed GIF.
The trading volume of the GME increased by 43% to $9.81M as a result of the increased trading activity.
GameStop price increased by 10% within a day as a result of the increased network activity.
It is presently market capitalized at $27.19M and is trading at $0.00395. Another coin that was inspired by GameStop experienced a 350% increase.
Intriguingly, the game retailer and the popular finance influencer Roaring Kitty have a lengthy history.
Furthermore, this connection has been frequently exploited by the ubiquitous Solana meme coin GameStop (GME), which is still in use today.
Even so, the post did not contain any promotional content or information that was pertinent to this cryptocurrency.
Nevertheless, the price began to increase, and the reason for this is quite intriguing, as it pertains to the past.
What Effect Does Roaring Kitty Have On GameStop’s Pricing?
Keith Gill, also known as “Roaring Kitty,” is a renowned financial analyst and investor.
Because of his market predictions and price analysis, he has amassed an immense fan base.
It is intriguing that in January 2021, he assisted the game retailer GameStop in resolving its financial difficulties.
He invested $53k and even promoted the business’s stock, which ultimately assisted it in weathering difficult times.
Nevertheless, he promptly vanished from the internet for three years before resurfacing in May 2024.
His initial post resulted in a 50% increase in the value of GameStop, which also had an impact on the GME crypto.
Since that time, the GME price has been influenced by the increasing number of individuals who migrate to the token in anticipation of substantial profits, as evidenced by each post made by Gill.
Is There Anything In It For You?
Despite the GameStop token’s recovery today, it still has a considerable distance to travel before it reaches its peak.
It was at its peak in July 2024, when it reached $0.03201, but it has since lost 87% of its value.
Nevertheless, this is not the initial instance in which the GME price has plummeted to this level.
This cryptocurrency experiences frequent price fluctuations; however, it is crucial to acknowledge that it has consistently rebounded following each decline.
Intriguingly, the 10% increase that occurred today is one of those attempts at recovery.
The GameStop price could potentially recover further if the investor’s sentiments remain consistent and the Bitcoin price regains favorable momentum.
However, it is crucial to adhere to prudent investment strategies.
