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Solana meme coin GameStop Wif Hat (GMEWIFHAT) confirmed stellar development this Tuesday, with its worth surpassing 40,000%. Nevertheless, on the time of writing, the upside for GMEWIFHAT is simply 131%.
The value enhance is tied to the return of RoaringKitty, the dealer largely credited for spiking the GameStop inventory surge in late 2020 together with the “WallStreetBets” subreddit, whose actual id is Keith Gill. One other meme coin that benefited from this reality is Roaring Kitty Wif Hat (RWIF), which at the moment bolsters a 32,424% rise.
Furthermore, each meme cash borrow the “hat” issue that was made standard by the token Dogwifhat (WIF), which is the biggest meme coin on Solana by market cap, conquered after a worth leap of over 181,000%.
Cat cash hypercycle?
The X person often known as EllioTrades shared with its over 750,000 followers his thesis on the meme coin market after the return of RoaringKitty. In keeping with EllioTrades, the person behind the WallStreetBets episode shared that “the canine days are over” in one of many movies posted after his comeback.
“Now on the floor this can be seen as a easy announcement of his return (as a cat). Possibly the Canine are literally referencing Wall Road elites. It actually doesn’t matter. Memes thrive on IYKYK fashion consideration betting and the prominence of Roaring Kitty submit “Dumb Cash” film hitting netflix is ranges past something we’ve seen earlier than,” mentioned EllioTrades.
Due to this fact, EllioTrades defined that he’ll add publicity to all cat-themed cash he at the moment holds. He additionally thinks that the market is but to begin its bull cycle, with extra upward motion set to occur within the subsequent months.
Furthermore, the dealer predicted that when the brand new technology of merchants begins flowing to crypto from social platforms comparable to TikTok, memes which can be standard amongst “Gen Z” will give life to probably the most worthwhile meme cash.
“The primary actual instance I noticed of this was $HAMMY (Unhappy Hamster) which I purchased as a result of my spouse reveals me that crying hamster actually on a regular basis on TikTok. Because the dumb cash commerce goes viral once more, the subsequent gen will deliver over the “REAL” memes truly going viral on socials. They may shift the sport to 1 the place they’ve the higher hand, as any new group would try to do,” he concludes.
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