Retail investor Keith Gill, known online as Roaring Kitty, has a well-established reputation for his influential tweets that often impact GameStop (GME) shares and the GME-inspired Solana (SOL) memecoin.
Recently, Gill’s tweet had a broader effect, influencing not only GME shares but also various pet-themed memecoins and stocks.
On June 27, Gill posted a cryptic tweet featuring a cartoon image of a dog without any caption.
This simple tweet generated significant market excitement.
Following the tweet, the market capitalization of dog-themed memecoins surged to $36 billion, marking a 2.2% increase within 24 hours.
Cat-themed memecoins experienced an even larger jump of 16.2%, reaching a market cap of $2.4 billion.
In the stock market, pet-related companies like Chewy, Inc. and PetMed Express, Inc. saw substantial gains, although these were short-lived.
GameStop (GME) shares continued their rise, appreciating by 3.68% at the time of reporting.
Similarly, the GME memecoin surged by 14.57% in the past 24 hours.
Technical indicators, such as the Relative Strength Index (RSI), confirmed the bullish trend with values remaining above the neutral threshold on the 4-hour chart.
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Interestingly, despite the excitement around dog-themed memecoins, market leaders like Dogecoin (DOGE) and Shiba Inu (SHIB) only saw modest gains of 3.4% and 1.2%, respectively.
Conversely, top cat-themed memecoins, Mog Coin (MOG) and Michi (MICHI), experienced dramatic increases of 25.9% and 38.65%, respectively.
Further analysis from COINOTAG, using data from Santiment, indicated positive sentiment surrounding these four memecoins, as evidenced by their RSI trends.
Keith Gill’s social media activity continues to wield significant influence over both traditional stocks and the burgeoning world of memecoins.
With both dog-themed and cat-themed cryptocurrencies seeing substantial gains, investors are reminded of the volatile yet potentially lucrative nature of this market segment.
Moving forward, traders and investors will likely monitor Gill’s online presence closely, anticipating potential market shifts driven by his next tweet.
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