The "god of retail stocks", which once defeated Wall Street, returned, and the meme coin of the same name skyrocketed 100 times in one day

Original author: Joyce

原文来源： BlockBeats

This morning, a tweet went viral in both the U.S. stock market and the crypto community, with more than 6 million views in five hours. The tweet comes from former U.S. stock trader Roaring Kitty, and it's his first tweet in three years.

While no one could tell what the tweet meant, it didn't stop the entire trading community from getting excited about the name Roaring Kitty, with many tweeting "Roaring Kitty is back." Why does a tweet have such an impact? Who is Roaring Kitty again?

From a certain point of view, it can be said that Roaring Kitty gave birth to the meme sector of the crypto community, and DOGE, the originator of meme, was born from the myth of "retail investors vs. Wall Street" led by Roaring Kitty.

Keith Gill, known as "Roaring Kitty," is a former financial analyst, Roaring Kitty is his YouTube and Twitter username, and he's also a loyal Reddit user.

In September 2019, Gill bought GME, a long-established U.S. retailer of game products that had been losing money for years, and showed a screenshot of his trade — about $53,000 — on the Reddit r/wallstreetbets subreddit.

In addition to text output, he also posts videos on Youtube and starts live streams to talk about the fundamentals and potential of GME. For a long time, many retail traders were influenced by him to buy GME, and then go to his Youtube channel comments to warm up and hold on to their confidence.

Roaring Kitty on the Youtube channel

In 2020, the GME did skyrocket, and the Gill asset grew several times. In January 2021, the Melvin Capital hedge fund and Citron Research, a well-known short-selling agency, announced on Twitter that they were bearish on GME, believing that its price should be halved from the closing price.

The news sparked outrage among many retail investors. That month, Wall Street Bets, a Reddit social forum group, launched a massive short-squeeze campaign on major social media, pushing GME's stock price from $17 at the beginning of the month to a maximum of $347, a nearly 19-fold increase. Roaring Kitty has played a big part in this process. He said on Reddit that he would not sell even 1 cent of GME, and he started a seven-hour live stream of the GME stock price on Youtube.

It is worth mentioning that GME plummeted by nearly two-thirds due to the suspension of trading by the brokerage, and Roaring Kitty's earnings retraced more than $15 million, but he still held it firmly and continued to post news in the community, and finally waited for GME to rise again.

The $53,000 GME that Roaring Kitty bought in 2019 turned into more than $30 million a little over a year later, peaking at $48 million. Roaring Kitty catapulted to fame, Netflix produced the documentary "Eat the Rich: The GameStop Sagame" and the movie "Dumb Money," which was released last year, is also based on Roaring Kitty, telling the story of his journey from the first time he bought GameStop stock to the stock peak and the hedge fund crash.

Since a large number of retail investors were trading on Robinhood at the time, and Robinhood had suspended GME trading in this "long and short war", the fierce emotions of investors on Robinhood spilled over to other targets, including DOGE, which had no real meaning. Shortly after the GME incident, Elon Musk began posting a flood of tweets spreading the Doge Meme on Twitter, which peaked three months later with a market capitalization of $90 billion. The MEME bull run in the crypto community has since begun.

In retrospect, even though Roaring Kitty never bought cryptocurrency, the culture of rebellion he led and Robinhood's role as a "low-barrier transaction" throughout the incident echoed the culture of the crypto community.

Chamath Palihapitiya, a venture capitalist who shocked Wall Street for buying a large amount of bitcoin for $80, commented on Roaing Kitty's "track record" at the time and said that retail investors are not inferior to Wall Street professionals, who in the past only did not have enough money to use more financial instruments, so they would be cut leeks by institutions. Now that retail investors are united to blast the hammer mechanism, it shows that the era of retail investors has arrived.

As the Wall Street game gradually came to an end, the price of GME gradually fell, and Roaring Kitty disappeared from the internet, with his Youtube channel and Twitter no longer being updated, most recently in 2021.

After three years, Roaring Kitty tweeted again, and this legend of "retail investors" and crypto culture naturally aroused the excitement of the community. Prior to this, GME had already experienced a week of gains, with Roaring Kitty helping them to gain up to 80% weekly, and the last time they saw such gains was in 2022.

Roaring Kitty's impact on GME's stock price is not particularly significant, and his comment area is full of shouting comments on various meme coins, among which the luckiest one belongs to Roaring Kitty's eponymous meme KITTY, which was born on March 31, fell by more than 90% on the second day of its launch, embarking on the road to zero, but unexpectedly rose sharply because of the return of Roaring Kitty.

A month after zeroing, KITTY has risen more than 100 times in the past 7 hours. Some traders have also been lucky, with a trader who spent about $3,000 on 17.4 million KITTY yesterday before Roaring Kitty's tweet and is now making more than $100,000 in profit from this tweet.