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Meme coin supercycle or liquidity crisis? Expert discuss RoaringKitty’s return
The post Meme coin supercycle or liquidity crisis? Expert discuss RoaringKitty’s return appeared on BitcoinEthereumNews.com. After a nearly two-year hiatus, the trader known as RoaringKitty returned to social media on May 13. Keith Gill, the real identity of RoaringKitty, is largely credited for spiking the GameStop stock (GME) surge in late 2020, and his return was enough to make GME price jump nearly 147% in 24 hours. Moreover, following his first publication, Gill started sharing cryptic videos that attracted the attention of known crypto investors, such as Ansem. This formed a landscape that is seen by the trader who identifies himself as EllioTrades as a preparation for a ‘meme coin super cycle.’ However, some investors from the crypto community manifested their worries about movements in traditional finance being capable of draining liquidity from crypto. Eneko Knörr, CEO and co-founder of Stabolut, shared with Crypto Briefing that the crypto market’s liquidity is unlikely to be substantially affected. “On the contrary, it feels like the meme stocks comeback has brought back attention to meme coins, with PEPE trading at a striking all-time high, for instance. This parallel surge in both meme stocks and meme coins indicates that the enthusiasm generated by RoaringKitty’s return is not limited to a single market, but rather is a broader phenomenon that transcends traditional boundaries,” explained Knörr. Furthermore, Stabolut’s co-founder believes that the crypto market is well-equipped to absorb and respond to such shifts in investor sentiment, another sign that the liquidity will remain robust in crypto. “In fact, the overlap between the meme stock and crypto communities may even lead to a cross-pollination of ideas and investment strategies, further fueling the growth of both markets.” A possible meme coin supercycle Knörr highlights the impact influencers and key opinion leaders (KOL) have on the crypto industry, mentioning Max Keiser and Kris Marszalek, CEO of Crypto.com, as examples. Their voices, he adds, can…
The post Meme coin supercycle or liquidity crisis? Expert discuss RoaringKitty’s return appeared on BitcoinEthereumNews.com.
After a nearly two-year hiatus, the trader known as RoaringKitty returned to social media on May 13. Keith Gill, the real identity of RoaringKitty, is largely credited for spiking the GameStop stock (GME) surge in late 2020, and his return was enough to make GME price jump nearly 147% in 24 hours. Moreover, following his first publication, Gill started sharing cryptic videos that attracted the attention of known crypto investors, such as Ansem. This formed a landscape that is seen by the trader who identifies himself as EllioTrades as a preparation for a ‘meme coin super cycle.’ However, some investors from the crypto community manifested their worries about movements in traditional finance being capable of draining liquidity from crypto. Eneko Knörr, CEO and co-founder of Stabolut, shared with Crypto Briefing that the crypto market’s liquidity is unlikely to be substantially affected. “On the contrary, it feels like the meme stocks comeback has brought back attention to meme coins, with PEPE trading at a striking all-time high, for instance. This parallel surge in both meme stocks and meme coins indicates that the enthusiasm generated by RoaringKitty’s return is not limited to a single market, but rather is a broader phenomenon that transcends traditional boundaries,” explained Knörr. Furthermore, Stabolut’s co-founder believes that the crypto market is well-equipped to absorb and respond to such shifts in investor sentiment, another sign that the liquidity will remain robust in crypto. “In fact, the overlap between the meme stock and crypto communities may even lead to a cross-pollination of ideas and investment strategies, further fueling the growth of both markets.” A possible meme coin supercycle Knörr highlights the impact influencers and key opinion leaders (KOL) have on the crypto industry, mentioning Max Keiser and Kris Marszalek, CEO of Crypto.com, as examples. Their voices, he adds, can…
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