Who Is Roaring Kitty and What Inspires The Meme Coin Drive?

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4 GameStop Spinoffs To Stack Before They Go Ballistic – Crypto News

Published

12 months ago

June 14, 2024

Dripp

The current investment landscape highlights four emerging meme coins linked to GameStop’s recent market success. These include Ben the Dog (BENDog), neversol (NEVER), Catwifhat (CWIF), and Byte (BYTE), each showing potential for significant rallies.

GameStop, often recognized as the quintessential meme stock, continues to capture the attention of speculative investors. A recent post from influencer Roaring Kitty triggered a resurgence in popularity, propelling its shares above the $60 mark. This activity highlights the ongoing allure of meme-stock trading, a phenomenon driven by discussions on platforms like Reddit.

GameStop Corp announced a significant financial move on June 11 by selling 75 million shares on the open market. This strategic sale was part of an at-the-market (ATM) equity offering program. Investors showed strong interest, quickly purchasing the available shares. As a result, the company successfully raised over $2 billion.

The high demand for the shares led to a surge in GameStop’s stock price. This surge reflects investor confidence in the company’s prospects. The funds raised through this offering will provide GameStop with additional capital. This capital can be used to support the company’s strategic initiatives and growth plans.

GameStop primarily retails physical video games and, to a more minor degree, digital versions. However, modern gamers increasingly download or stream games rather than purchase physical copies from retailers.

Amidst these market dynamics, GameStop’s management has strategically capitalized on these spikes by issuing new shares. Furthermore, the company’s recent performance has reinforced the perceived volatility of meme stocks.

This pattern suggests potential benefits for those investing in newer, similar assets, like the recently introduced GME coin on the Solana blockchain.

1. Leading GameStop Spinoff – Ben the Dog (BENDOG)

Ben the Dog (BENDOG) has emerged as a notable contender in cryptocurrency, originating from the popular mobile app “Talking Tom.” Currently ranked 751st on CoinMarketCap, BENDOG boasts a market capitalization of $33 million. The token’s current value is $0.03267, reflecting a 29% decline in the last 24 hours.

4 GameStop Spinoffs To Stack Before They Go Ballistic — Ben the Dog price chart

Despite this, the token has witnessed a substantial rise of 534% in the past month and 1250% over the previous year. As a meme coin utilizing Solana’s blockchain, BENDOG benefits from quick and affordable transaction capabilities.

2. Neversol (NEVER)

Neversol (NEVER) operates on the same Solana platform. With a market value of $4.5 million and a daily trading volume of $2.8 million, NEVER has seen its price increase by 39% over the last month. Currently, it is trading at $0.00006346.

5. Catwifhat (CWIF)

Catwifhat (CWIF), this token has garnered significant attention in the Solana community. Inspired by the viral dogwifhat meme, CWIF utilizes a deflationary model where 4% of each transaction is automatically burned.

Having completed airdrops to over 1.3 million holders, the token has a market cap of $45 million and is ranked 647th on CoinMarketCap. Although it dropped 17% in value over the last day, CWIF has surged by 117% in the last week, with a current price of $0.000001304.

4. Byte (BYTE)

Byte (BYTE) uniquely blends cryptocurrency and popular culture. Allegedly created by Elon Musk’s xAI team as a gift to Grok AI, BYTE has climbed to a market cap of $26 million, ranking 812th on CoinMarketCap.

The token’s value has increased by 11% in the last 24 hours and by an impressive 173% over the past week, with Byte price now at $0.00002723. These meme coins on the Solana blockchain are gaining traction among investors because of their unique attributes and significant price movements, reflecting the cryptocurrency market’s dynamic nature.

Bottom Line

As GameStop’s influence widens, Ben the Dog, neversol, Catwifhat, and Byte are at the forefront of the following digital currency surge. These meme coins offer a fresh investment avenue with promising growth potential.

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