Benzinga - A new social post by controversial trader Keith Gill, known by his social media name Roaring Kitty, has injected fresh volatility into GameStop (CRYPTO: GME) memecoin.
What Happened: The trader, who has hogged considerable positive and negative publicity in the last month, shared the opening scene from Christopher Nolan's "The Dark Knight" through his official X account Sunday evening.
As has been the case, the Solana (CRYPTO: SOL)-based memecoin–which pays tribute to the 2021 short squeeze of GameStop Corp. (NYSE:GME) by the legendary trader–soared 14% within minutes of the post, according to CoinMarketCap.
Moreover, trading volume surged 38% to $225 million in the last 24 hours
Why It Matters: The trader's social posts have been invariably moving the traditional and cryptocurrency markets.
Around the same time last week, Roaring Kitty's Reverse Uno Card post spurred a 3X jump in GME's value.
However, the memecoin tanked 60% when the trader's much-hyped YouTube livestream last week disappointed investors, leaving them with more questions than answers.
It was plausible that traders have become circumspect of Roaring Kitty and his bets, and GME’s moderate price action compared to last week seemed to lend validity to this notion.
Moreover, most kitty-themed cryptocurrencies, including Kitty AI (CRYPTO: KITTY), were trading in the red. Recall that these coins too made substantial gains last week on Roaring Kitty frenzy.
Price Action: At the time of writing, GME was exchanging hands at $0.0208 , according to data from Benzinga Pro. Shares of GameStop traded 3.82% lower in the after-hours trading.On Friday, GameStop shares closed 39.4% lower at $28.22 during the regular session.
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