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Meme coins are on fire and PEPE hits an all-time high thanks to a single tweet

Meme coin prices have reached record highs following the return of popular trader Keith Gill, known by the nickname “Roaring Kitty,” to the Twitter platform. He reached a price Pepcoin (PEPE) Level of $0.00001119. This is its highest level since mid-March, recording an increase of 34% in just 24 hours.

Trading volume jumped to $1.56 billion, bringing PipCoin's market value to $4.31 billion, surpassing Ethereum Classic's market value to become the 23rd largest digital currency by market capitalization .

The return of “Roaring Kitty” to the Twitter platform, after a long absence since June 2021, has aroused wide interest among traders. Gil posted a photo of a man holding a remote control and sitting attentively. This was seen by users as a sign of a period of intense concentration.

On the night of May 12, he testified Prices of PEPE parts A further recovery, surpassing the pivotal resistance level under which the price has remained since March.

According to DEXTools data, it has increased GameStop Coin Built on Solana grew over 550% after Gil's return, as it increased AMC part By 1200%. Major altcoins such as Dogecoin, DOGE and Shiba Inu, SHIB also saw increases of 5% and 7%, respectively.

Strong fluctuations in “meme stocks” and meme coins

The rises were not limited to digital currencies alone, but also extended to generation-related stocks or so-called meme stocks. "GameStop's stock price rose 44% in premarket trading. It then rose as much as 110% at the market open before trading stopped. AMC Entertainment Holdings shares have increased by 12% pre-open, reaching 25% after the opening on Wall Street.

according to Supplier Santiment Blockchain Data The meme market had an exciting start to the week, with trading volumes among the 50 largest meme sector assets up more than 34%. These developments added $5 billion to investors' wealth in 24 hours

It attracts currencies such as PEPE There is currently considerable interest in MAGA, MOG, PONKE, PEPE2.0, SPX and ANALOS, representing potential opportunities for significant price swings.

Memories of the pandemic return

During the 2021 pandemic, Reddit traders, led by Keith Gill, united to buy and back GameStop shares against hedge funds that were betting on a decline in the traditional game store's stock prices by opening huge positions in short sale contracts. This sudden support caused GameStop's stock price to surge more than 1,000% in less than a month.

Last Monday, a dizzying rise in GameStop's stock price caused losses approaching $1 billion for short sellers, according to data from S3 Partners. As the stock price rose 74%, hedge funds involved in the short sales suffered a loss of up to $838 million.

The sudden rise in stock price appears to have been triggered by the "Roaring Kitty", which had previously mobilized an army of day traders to invest in gaming stocks in 2021, marking a historic event in the annals of Wall Street.

“We expect short covering on this stock as it already had a stress score of 100/100 before today's session,” said Ihor Dusaniovsky, general director of forecast analysis at S3.

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