GameStop Rally Fuels Meme Coin Surge: PEPE, FLOKI, and More Soar
The ongoing GameStop shares rally that jump-started Monday has influenced the digital asset sector, with a meme coin surge for assets like PEPE, Floki, and others experiencing significant gains. The resurgence is largely attributed to the renewed interest sparked by Keith Gill, known as "Roaring Kitty," a retail trader whose online persona and investment strategies contributed to the GameStop short squeeze.
"Roaring Kitty" Sparks Meme Coin Mania
Meme coins surged after a post by Keith Gill, triggering a 110% price surge in GameStop shares and wiping out more than $1.2 billion from short sellers. This post, and others that would follow, would trigger a 110% price surge in GameStop shares, erasing more than $1.2 billion dollars out of the hands of short sellers. The GameStop rally has ignited a surge in social media activity surrounding meme coins.
FLOKI and PEPE Lead the Charge
The GameStop rally has inspired meme coin developers, leading to surges in PEPE, FLOKI, and MOG coins. FLOKI, for example, saw a remarkable 145% surge in social interest. Similarly, Pepe has seen its value rise. “Roaring Kitty is living proof that retail can mog (outperform) institutions at the highest level,” one meme coin developer said.
Retail Investors Flex Their Power
That has fed into the digital asset market, as the ongoing GameStop stock surge has fueled a meme coin rally for Pepe, Floki, and many others. As GameStop stock rallied about 51% on Monday, several meme coins began seeing increased social activity. FLOKI saw a 145% surge in social interest as traders acknowledged the power of retail investors.