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Roaring Kitty has returned with a cryptic X post featuring Solana-based CHEWY memecoin, which saw a 28% price jump. The post has led to speculation about his involvement in the meme token's rally.
Roaring Kitty’s X Post Sends CHEWY Token Soaring
Keith Gill, well known by his alias "Roaring Kitty," the mysterious figure that sparked the GameStop short squeeze, has made an anonymous return, sending a dog-themed memecoin soaring.
According to Cointelegraph, Gill made a triumphant return to social media following a two-month absence with a mysterious X post including the Solana-based memecoin Chewy (CHWY). The photograph below was posted by Gill in a post on September 6th:
Solana-Based CHEWY Memecoin Gains 28%
Based on CoinMarketCap data, Chewy's price against Solana surged over 28%, trading above $0.011 following the cryptic message.
Unlike real currencies, memecoins like Chewy rely solely on public opinion to fuel their price increases. Those that trade memecoin without using technical or fundamental analysis may take even indirect X postings from Gill as a strong endorsement.
Many meme tokens featuring Chewy were probably motivated by Gill's July announcement that she owned 6.6% of the online pet food and accessory business Chewy.
Mysterious Post Hints at Gill’s Departure from CHEWY
Gill appears to be leaving the Chewy company, not promoting it, according to his cryptic post, even though the Chewy token has rallied about 30%.
In the scene where Andy accidentally drops Woody, his beloved toy, Gill shares an image from the film Toy Story. The Chewy token logo has taken Woody's position in Gill's most recent X post.
Gill may be dropping hints about his impending exit from Chewy with this. On June 27, he first posted a Chewy-related image to X.
Memecoin Investors Monitor Gill’s Activity Closely
In 2021, GME stock increased by more than 1,000% within a month of the first GameStop short squeeze. Memecoin investors are keeping a careful eye on Gill's social media accounts for these and other reasons.
A possible revival of GameStop could be hinted at in Gill's X article as well.
According to market watcher Unusual Whales, who published their findings on September 6th, an unidentified buyer purchased $2 million worth of GameStop (GME) shares just after Gill's X post went live.
