back Keith Gill (also known as “Roaring Kitty”), the man who contributed greatly to… GameStop short squeeze in 2021, and the Dogecoin race, have led to talks of another impending meme-mania. If so, some meme coins are worth watching, as they could be the biggest beneficiaries of this development.
Pepe (PEPE) and Dogwifhat (WIF) could lead the way for Meme coins
Baby and WIF Sounds like you're ready to lead the way if there's another meme craze caused by the return of a generation. Gill was at the helm of the GameStop saga in 2021 when a group of Reddit traders staged a financial rampage against hedge fund managers who were selling shares of the retail company. This led to GameStop stock It goes from less than $3 to $483 in less than a month.
This event is believed to have paved the way for the cryptocurrency craze, which then began as many retail investors entered into cryptocurrencies after this event. This led to a corresponding rise in the prices of various meme currencies, including major currencies, Dogecoin and Shiba Inu. However, with Dogecoin and Shiba Inu looking to lose most of their bullish momentum, newer meme coins like Pepe, WIF, and even Bonk could lead the way this time.
This Newest Meme Cryptocurrency Has Recorded Big Gains in the Past 24 Hours Since Gill Made His First X (formerly Twitter) mail Announcing his return. Specifically, Pepe was the biggest gainer among the top-rated meme coins, posting price gains of more than 25%, according to Data From Coin Market Cap. WIF And Bonk Price increases were also recorded by 11% and 9%, respectively.
Dogecoin and Shiba Inu also posted significant price gains. However, in the long term, Pepe, WIF and BONK are expected to outperform the two largest coins by market cap as they have more room to make equivalent moves to the upside.
At the same time, the return of a generation can also be considered timely as meme coins were already expected to be one of the leading narratives in this matter. The bull ran. As such, this could lead to a significant increase in the meme market.
The event that leads to mainstream adoption
Crypto expert Scott Melker Expect mainstream cryptocurrency adoption to return when Dogecoin reaches a level New all-time high (ATH). However, Jill's return may be the event that marks the return of retail investors to the cryptocurrency space. Moreover, what happened after his return makes a strong case for cryptocurrencies being the future of finance.
the New York Stock Exchange (NYSE) He was mentioned To halt trading of GameStop stock due to its volatility following Gill's numerous X posts. Such an occurrence is impossible on-chain, which may convince TradFi traders to use it Decentralized protocols It is a better choice.
Unlike the New York Stock Exchange, this… Decentralized exchanges It did not stop trading even though the non-retailer's token GameStop (GME) rose more than 3,000% in a single day.
Featured image from Blockzeit, chart from Tradingview.com