GME Spikes 59% As Roaring Kitty Returns to X, the Altcoin Season Is On – Will STARS Capitalize On This Rally?

Financial analyst Keith Gill, known as Roaring Kitty on YouTube, made a comeback on social media after three months of silence.

In response, GME, AMC, and ROAR tokens, all inspired by 2021 GameStop’s short squeeze, spiked by over 50% in 24 hours.

Degens Celebrate Kitty’s Return With a Short Rally

GameStop’s short squeeze is one of those events that changed the course of history, at least for retail investors. Gill’s role in shifting market dynamics is undeniable, and he could very well be called the ‘Father of Degen’ alongside Elon Musk.

On December 6, Gill posted an altered Time Magazine 2006 cover paying homage to YouTube. The post didn’t offer any further explanation and left users wondering what Gill meant to say.

Many of Gill’s followers replied with their versions of the picture and speculation regarding its hidden meaning.

In fact, Roaring Kitty’s X posts are rarely insightful or clear. Nonetheless, crypto investors responded to Kitty’s return with a rally, just like in July and every time before.

The GameStop (GME) token, which is not affiliated with GameStop, rose sharply from $0.005039 to $0.008041 (+59%). GME’s 24-hour trading volume hit $44.4M.

Another top gainer is the AMC Entertainment (AMC) token, with a 51% increase. Roaring Kitty (ROAR) rose by 27.14% and reached a $7.54M market cap.

However, this rally is likely to be as short-lived as previous ones. In May, GME spiked by over 3,700% in two days only to fall the next day. The token once again surged in July, hitting an all-time high of $0.03207 but soon dropped to $0.004973 (–84%).

HBAR, XLM Lead the Altcoin Sector, Meme Coins Are Thriving

High degen activity suggests we’re entering another altcoin season. BTC dominance falling from 61% on November 21 to 55% on December 6 supports this trend.

Over 75% of the 50 top-performing coins within the last 90 days brought their holders better returns than BTC. Hedera (HBAR), Stellar (XLM), MANTRA (OM), Sui (SUI), and Dogecoin (DOGE) grew the most this season.

DOGE still leads the meme coin sector, followed by Shiba Inu (SHIB), Pepe (PEPE), DogWif

Go to Source to See Full Article
Author: Bitcoinist

Did you like this?
Tip BTC Newswire with Cryptocurrency