Whale Jill, known as the 'Roaring Kitty', has once again drawn attention to the iconic video game retailer GameStop. His new social media post, published after three months of silence, has created a stir in the market, leading to a rapid rise in the price of the meme coin #GmeStop (GME).
In the last 24 hours, the price of $GME soared by 30.5%, reaching $0.006736. The market capitalization of the token rose to $46.38 million, while the trading volume amounted to an impressive $43.84 million, corresponding to 94.54% of the capitalization.
What happened?
The focus was on Jill's post on X (formerly Twitter), where he presented a modified version of the famous Time magazine cover created by Arthur Hochstein. The meme instantly gained popularity, triggering a wave of purchases for both GameStop shares and the eponymous meme coin.
Jill, whose mysterious activity on social media previously acted as a catalyst for the sharp rise in GameStop shares earlier this year, is reaffirming his reputation as an influential figure in the crypto and stock world.
Why is this important?
The rise of GameStop demonstrates the power of meme culture and its influence on financial markets. It not only emphasizes the uniqueness of GameStop as a company but also points to the ongoing popularity of meme coins associated with iconic brands.
Given the trading volumes and current market interest in GME, market participants continue to monitor Jill's activity, awaiting new signals.
