|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cryptocurrency News Articles
Dog-Themed Memecoin Chewy (CHWY) Surges 28% After Keith Gill's Enigmatic Return
Sep 07, 2024 at 09:48 pm
A dog-themed memecoin is surging after the enigmatic return of Keith Gill, also known as “Roaring Kitty,” the individual credited with sparking the GameStop short squeeze.
A dog-themed memecoin is rallying after the mysterious return of Keith Gill, also known as “Roaring Kitty,” the person credited with sparking the GameStop short squeeze.
After an over two-month break, Gill returned to social media with a cryptic X post featuring Solana-based memecoin Chewy (CHWY). Gill shared the following image in a Sept. 6 X post:
Roaring Kitty, Chewy post. Source: Roaring Kitty
Following the cryptic post, Chewy’s price rallied nearly 28% against Solana SOL $128.9 , to trade above $0.011, according to CoinMarketCap data.
SOL
$128.9
CHWY/SOL, 1-h chart. Source: CoinMarketCap
Memecoins like Chewy have no underlying technical utility and rally mainly on social sentiment. Even indirect X posts from the likes of Gill can be seen as a strong endorsement for memecoin traders, who aren’t trading based on fundamental or technical analysis.
Earlier in July, Gill revealed a 6.6% ownership in the online retailer of pet food and other pet-related products, Chewy — which likely inspired the creation of multiple Chewy-related meme tokens.
Related: Roaring Kitty’s $300M GME position sparks market manipulation claims
Is Roaring Kitty dropping or endorsing Chewy?
Despite the Chewy token’s near 30% rally, Gill’s cryptic post seems to suggest that he is dropping the Chewy company, not endorsing it.
The image shared by Gill is from the movie Toy Story and shows the scene where Andy drops his favorite toy, Woody. In Gill’s latest post on X, Woody has been replaced by the Chewy token logo.
This may indicate that Gill is hinting at his departure from his role at Chewy. He initially shared an image related to Chewy in a post on X on June 27.
Chewy post. Source: Roaring Kitty
When the first GameStop short squeeze occurred in 2021, GME stock surged by over 1,000% in just a month. This is one reason why memecoin traders are keeping a close eye on Gill's social media activity.
Related: Citron no longer short on GME, cites ‘market’s irrationality’
What about GameStop?
Gill’s X post could also suggest a potential GameStop resurgence.
Shortly after Gill’s X post was published, an unknown investor bought $2 million worth of GameStop (GME) shares, noted market tracker Unusual Whales in a Sept. 6 X post.
GME $2 million buy. Source: Unusual Whales
At the end of June, a GameStop investor sued Gill over alleged securities fraud. The lawsuit was dropped after just three days.
The initial lawsuit alleged that Gill had committed securities fraud by failing to inform his followers and other GameStop investors that he planned to sell some 120,000 call options before their June 21 expiration date.
Magazine: Roaring Kitty’s GME shares hit $1B, BTC open interest soars, and other news: Hodler’s Digest, June 2-8
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Nervos Network (CKB) Whales Make Strategic Move, Shift Focus to Exciting New Contender: Mpeppe (MPEPE)
- Sep 17, 2024 at 02:30 am
- In the fast-moving world of cryptocurrency, where innovation is the name of the game, whales — those big-time investors who hold vast amounts of crypto
-
- Bitcoin (BTC) Might Reach $70K in the First Week of October, Here's Why
- Sep 17, 2024 at 02:30 am
- Bitcoin [BTC] had a bullish weekend, briefly testing the $60K mark before pulling back. At press time, it traded at $58,272, reflecting a momentary retreat
-
- Nervos Network (CKB) Price Prediction 2024, 2025, 2026: Why CKB Whales Are Adding Mpeppe (MPEPE) to Their Portfolios
- Sep 17, 2024 at 02:30 am
- Nervos Network (CKB) has caught the attention of the broader crypto community, with its price soaring by 55% in the last 24 hours.
-
- Bitcoin Accumulation Frenzy Resumes as $1.3B Worth of BTC Exits Crypto Exchanges
- Sep 17, 2024 at 02:25 am
- Data from IntoTheBlock has revealed a new accumulation trend amongst Bitcoin investors. According to the financial service platform, roughly $1.29 billion worth of BTC has exited various Centralized Exchanges (CEXs) in the last week.
-
- Permissionless Labs Raises $10M to Disrupt Internet Infrastructure With DeVIN Pipe Network
- Sep 17, 2024 at 02:25 am
- Ahead of its planned testnet launch at the Breakpoint conference in Singapore, Permissionless Labs has raised $10 million in a funding round led by Multicoin Capital.
-
- Bitcoin Mine: Noise Complaints And Community Impact
- Sep 17, 2024 at 02:25 am
- Residents had complained for years about the continuous noise the cooling systems of the Bitcoin mining operation. Mayor Kjell-Børge Freiberg said that the noise had bothered a lot of the roughly 8,260 residents of the town.
-
- CrytocoinMiner: A User-Friendly Platform to Make Money Easily
- Sep 17, 2024 at 02:25 am
- CrytocoinMiner’s user-friendly platform has attracted over 3.7M global members for easy mining access.
-
- Nervous Network ($CKB) Emerges as the Top Performer with a 92.2% Gain, Leading the Cryptocurrency Market's Remarkable Weekly Surge
- Sep 17, 2024 at 02:25 am
- Several coins have significantly increased their values in a week marked by remarkable gains in the cryptocurrency market. According to Drops Tab, Nervous Network ($CKB) has emerged as the top performer. It has experienced a significant gain of 92.2%.
-
- Chainlink CCIP Cross-Chain Interoperability Protocol Goes Live on ZKsync Era Mainnet
- Sep 17, 2024 at 02:25 am
- Chainlink has announced the launch of its Cross-Chain Interoperability Protocol (CCIP) on the ZKsync Era mainnet, representing a fundamental advancement in cross-chain interoperability.