Bitrabo Editorial
The resurgence of Keith Gill, famously known as “Roaring Kitty,” a key figure in the GameStop short squeeze and the rise of Dogecoin, has sparked discussions about another wave of meme coin frenzy. If this happens, certain meme coins stand out as potential major beneficiaries of this trend.
Pepe (PEPE) and Dogwifhat (WIF): Potential Leaders in the Meme Coin Market
In the event of another meme coin mania influenced by Gill’s comeback, PEPE and WIF could take the lead. Gill played a significant role in the GameStop saga where Reddit traders challenged hedge fund managers, causing GameStop’s stock price to surge drastically. This event is seen as a precursor to the emergence of meme coins, including popular ones like Dogecoin and Shiba Inu. However, with a slowdown in the momentum of Dogecoin and Shiba Inu, newer meme coins such as Pepe, WIF, and Bonk might dominate this time.
Following Gill’s announcement of his return on X (formerly Twitter), these newer meme coins have experienced notable price surges. Pepe has seen the highest gain among the top meme coins, with a price increase of over 25% in the past 24 hours according to data from CoinMarketCap. WIF and BONK have also recorded price rises of 11% and 9%, respectively. It is anticipated that in the long run, Pepe, WIF, and BONK will surpass Dogecoin and Shiba Inu in terms of market cap and potential price surges.
Gill’s reappearance coincides with the projected narrative of meme coins leading the current bull run, potentially fueling a significant upsurge in the meme coin market.
The Catalyst for Mainstream Adoption
Crypto expert Scott Melker suggested that mainstream adoption of cryptocurrency could return with Dogecoin setting a new all-time high. However, Gill’s resurgence might be the pivotal moment that ushers retail investors back into the crypto space, emphasizing the future role of crypto in finance.
Reports indicated that the New York Stock Exchange suspended trading of GameStop’s stock due to heightened volatility prompted by Gill’s posts on X. This incident underscores the contrast with decentralized exchanges that continued trading seamlessly amid the GameStop meme coin surge, showcasing the advantages of decentralized protocols to traditional finance traders.