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The Roaring Kitty price soared 326% to trade for $0.008315 as of 10:33 a.m. EST on trading volume that soared 220%.
It came following a post on social media platform Reddit by Keith Gill. Gill, known by the pseudonym “Roaring Kitty,” indicated holding over $180 million worth of GME stock and call options.
Gill is famous for his pivotal role in the 2021 short squeeze of GME stock. The Reddit post was Gill’s first since April 2021 under his “DeepFuckingValue” account on June 2.
He posted a snapshot that displayed a 5 million GME shares purchase bought for $115.7 million. Besides that, the screenshot also revealed an investment of $65.7 million in call options.
Gill also shared a mysterious green UNO reverse card to X (formerly Twitter), increasing the number of enigmatic posts and memes that he has been revealing since his surprise return in May.
— Roaring Kitty (@TheRoaringKitty) June 3, 2024
The Enigma That Is Keith Gill Drives Roaring Kitty Price
Gill played a significant role in early 2021 when his YouTube videos and Reddit posts on the subreddit WallStreetBets revealed his bullish thesis on GameStop stock. This encouraged others to invest in the company.
His analysis and commentary helped spark a buying frenzy among retail investors. This led to a massive short squeeze on Wall Street hedge funds that were betting against GameStop’s stock. As a result, the stock price soared dramatically, causing a significant disruption in the financial markets and attracting widespread attention.
Roaring Kitty’s actions and public statements regarding GameStop ultimately made him a prominent figure in the stock market world during that period. With the recent show of faith in GameStop, markets are betting on the rally spilling over into the Roaring Kitty price.
Roaring Kitty Price Prediction
The Roaring Kitty price recorded a god candle on the one-day timeframe on Monday, before topping out at $0.019234. Early profit booking ensued, causing a 55% correction to $0.008345.
TradingView: KITTY/USDT 1-day chart
On the two-hour timeframe, the altcoin is wiping out the gains, with the Relative Strength Index (RSI) nosediving to show falling momentum. Notably, the RSI has crossed below the yellow band of the signal line, often interpreted as a sell signal.
The Moving Average Convergence Divergence (MACD) also hints at a possible sell signal, which would be executed once it crosses below the orange band of the signal line. The histograms of the MACD also reflect the same outlook, showing the KITTY market is shifting in favor of the bears fast amid ongoing sell-off.
The critical support due to the 38.2% Fibonacci retracement level of $0,007521 could be lost as sellers have their way. If it happens, it would effectively mark a fall below the Fibonacci Golden Zone that starts from $0.010927, the 61.8% Fibonacci retracement level. This would toss the Roaring Kitty price in the hands of the bears. A break below this level would encourage more sell orders.
TradingView: KITTY/USDT 2-hour chart
On the other hand, if investors leverage the correction to buy the dip, the Roaring Kitty price could recover. Nevertheless, only a higher high above the $78.6% neckline at $0.013352 would invalidate the bearish thesis. In a highly bullish case, enhanced buying pressure could see the KITTY reclaims its peak above the $0.020000 psychological level.
Elsewhere, investors are pivoting to SEAL, a new crypto ICO that has raised more than $3 million. Cypto YouTuber Cilinix Crypto reviews why investors should consider getting into the Solana presale project on the ground floor.
Promising Alternative To Roaring Kitty
SEAL powers the Sealana ecosystem and is a character based on a chubby seal that is fully immersed in the Solana Sea. The character, once sleek and agile, is so absorbed in degen trades that he’s become obese on a diet of chips and tinned tuna.
If someone over takes you and flips you off!🖕Don’t pull your gun on them, just give them an Emotional Support $SEAL Beer! 🍻🦭 Never let anything distract you from your goal of Massive Gains, Lambos, and Freedom! 🇺🇸💰
Cheers to big wins and livin’ the #Sealana dream! 🦭🚀… pic.twitter.com/eww6YolDkk
— Sealana (@Sealana_Token) June 3, 2024
With Solana meme coins now a choice investment in an upmarket, Sealana is thriving. The project’s integration with the Solana blockchain is a key advantage, leveraging Solana’s robust performance, low fees and rapidly expanding ecosystem.
Sealana is a ”Send SOL” launch without timers, stages, hardcap, or even a whitepaper. That makes now a perfect time to buy SEAL if you are interested because the ICO could end at any time.
Buy Sealana tokens here for $0.022 each.
Also Read:
PlayDoge (PLAY) – Newest ICO On BNB Chain
- 2D Virtual Doge Pet
- Play To Earn Meme Coin Fusion
- Staking & In-Game Token Rewards
- SolidProof Audited – playdoge.io
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