TL; DR
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In 2021, the $GME mania spread to crypto, leading to a rise in the number of memecoins – that same $GME mania has just started again, hoping it will hit crypto for a second time.
Full story
15 and counting.
That’s how many memes it took @TheRoaringKitty (the guy who sparked the GameStop stock mania in 2021) to add $10 billion to GameStop’s market value in just two trading days.
It started with this post (also pictured above ☝️), after $GME shares started rising in after-hours trading this weekend – marking the first post from Roaring Kitty (aka Keith Gill) since June 18, 2021.
Since then, he’s been teaching a masterclass in high-quality, epee-rallying memes (check them out here — this is our favorite so far).
“Okay, that’s cool – but what does this have to do with crypto?”
Good point!
Back in – what was it, late 2020/early 2021? – when Keith’s theory about the massive undervaluation of $GME entered the zeitgeist, it set off a chain reaction that spilled over into crypto and led to the Dogecoin pump of 2021.
So now Crypto Twitter is playing with the idea that lightning can strike twice, as those who feel like they missed the recent $GME pump turn to the crypto markets in search of another win.
Whether or not this will happen is anyone’s guess…
But here’s how we heap it is situated:
We suspect that many of the people who participated in the 2021 $GME and $DOGE pumps bought their stocks and crypto through Robinhood (which was the platform of choice at the time).
Since then, those people have probably:
…for the retail investors who held on, if there’s anything that will get them back into space with fresh money, it’s a report that they’re making (and rising) profits again.
And when retail arrives, things get crazy.
Fingers, toes and eyes: crossed – hope this will happen!