Roaring Kitty makes a comeback? GME concept MEME welcomes a collective celebration
New wine in old bottles, the celebrity effect is an old trick.Author: Deep Tide TechFlow
The big player is back.
After a half-month silence, Roaring Kitty, who became famous for going long on GameStop stock, posted a picture of a "reverse card" from the UNO card game on Twitter today.
Regardless of what this tweet implies or suggests, since Roaring Kitty's personal image is deeply tied to the Wall Street Bets theme, the moment this tweet was released, the GameStop stock $GME's Solana chain token $GME surged nearly 300%, while the $GME on the ETH chain skyrocketed nearly 800%.
Old wine in a new bottle, the celebrity effect is an old trick?
Last month, Roaring Kitty tweeted for the first time in three years, which led to a massive surge in $GME and its namesake token. During this period, Roaring Kitty continuously posted various film clips on Twitter.
Even such seemingly nonsensical expressions triggered people's FOMO, with almost every short clip posted by Roaring Kitty on Twitter being followed by hype around the namesake memecoin.
For Roaring Kitty, it might just be a momentary expression, but for the retail investors, it cannot be ignored, as every tweet could be an undiscovered gold mine.
The act of pulling up targets closely associated with celebrity concepts may seem absurd, but for crypto players, they have witnessed waves of love for the associated assets in the market.
After Elon Musk expressed his love for $DOGE multiple times through tweets, the price of $DOGE seemed to be strongly tied to his every word and action.
In 2021, every time Musk mentioned Dogecoin, a massive pump in $DOGE followed, repeatedly. The wealth effect of this influence snowballed, to the point where monitoring Musk's tweets became a millisecond-level endeavor.
To this day, Musk remains a top figure in the crypto space, with countless eyes in the market glued to his every tweet, hoping to find the wealth code hidden in one of his posts.
The previously hyped concept of "founders and cute animals" is similar, with Vitalik Buterin's cat, Solana founder Toly's dragon, and Polygon founder Sandeep's pet elephant, etc…
What attracts people is not the cute animals themselves, but the essence of the pet sector's hype is still the influence of celebrities.
The influence of celebrities themselves draws people's attention to the meme hype of the targets, and some celebrities actively promote the memes, like a spark on a fuel tank, igniting upon contact.
Of course, celebrities, as the source of influence, are well aware of this. Last week, the prototype of the $Jenner coin, Caitlyn Jenner, was quick to ride the wave:
Which GME concept memes are worth paying attention to?
Namesake Stock Tokens
$GME
The namesake token $GME of the two GameStop stocks is currently the hottest target:
$AMC
Similar to the narrative of $GME, $AMC is also the namesake token of the US stock $AMC. As the largest cinema chain in North America, $AMC is also a target that retail investors are keen to hype. From the price performance, $AMC has also clearly been influenced by Roaring Kitty's tweets, surging nearly 700% before retreating.
Character Namesake Tokens
$Kitty is the namesake token of Roaring Kitty, which surged after Roaring Kitty's first tweet in May after three years, and today it also rose nearly 1000% with Roaring Kitty's new updates before retreating.
Wall Street Bets Concept
$WSB and $WSM
There are also $WSB and $WSM, which directly point to the Wall Street Bets theme.
It can be seen that the market's demand is becoming increasingly straightforward and crude. The wealth effect of the attention economy repeatedly crushes pure fundamentalists. Everyone needs their investments to make a loud impact; a piece of news can directly pump the market, which is ideal. Therefore, now a single image from Roaring Kitty can easily drive over a hundred million dollars in capital flow.
Musk's dog, Vitalik's cat, Kitty's GME, in fact, nothing has changed…
Attention is like a flag in the hands of celebrities; with just a gentle wave, it is not an exaggeration to say that retail investors will respond immediately.
However, attention also has a shelf life. The market is more willing to pay for continuously emerging new hotspots, even if this new hotspot is just an old story with a new skin.
Whether Roaring Kitty's "comeback" is just a momentary whim remains to be seen, but what is certain is that the crypto market is never short of fresh hotspots and enthusiasts willing to pay for them.
