memecoin era is upon us
It’s the 52nd edition of The Gems Corner, and today we will be looking at the memecoin supercycle, and other alphas, as usual.
Earlier this week, a crypto and stock legend made a comeback sending some stocks off the charts. Not only that but his comeback was captured on multiple mainstream media outlets and blogs.
But who the heck is he?
You guessed right! He’s Roaring Kitty.
Before we jump right into his comeback effect, let me give you some background to his story.
Keith Gill, known as Roaring Kitty, was born in 1986 in Brockton. He was a college track start, after which he ventured into stock analysis. Roaring Kitty used his social media channels (YouTube, Twitter, and Reddit) to share his analysis, gradually amassing followers.
In 2019, he bought GameStop stock (GME) for $53k, which later peaked in 2021, giving him about $48 million in profits. Yes, you read right—48 million bucks. He’s known for kickstarting the ‘meme stock frenzy’, empowering his followers to bet on these stocks.
He made this tweet for the first time in three years, signaling his comeback to the game. His tweet sent shares in GameStop to over 100%, with GME adding about $6 Billion in market capitalization.
You’d agree with me that we are living in the most speculative era in history. And this also shows how influential Roaring Kitty is. That’s not even that catch. The catch is his comeback is an indication of the meme coin supercycle, especially the cat-themed meme coins. The number of meme tokens launching daily has increased exponentially in April and May.
The next couple of months will see an influx of meme coins: millionaires will be minted, and people will be rekt’ed. Retail is already here, and things are about to go nuts. Your best bet is following the right people, sharpening your research skills, and knowing when to enter & exit the market.
We waited. It’s here. Take advantage.
Fan Tokens & Gamblefi Era in View
With the upcoming EURO 2024 football competition, I expect the gamblefi narrative to peak up steam. The current market for sports coins is $2.9B, attached it because I’ll come back to this during and after the competition.
Historically, these fan tokens don’t always perform alongside the prevailing sports tournaments but with the rising meme frenzy and the bull market, it might just be different. Plus, the rising gambling rate in most European countries is another strong indicator of the likely performance of this narrative.
I’m comfy holding $WINR, but I’m looking at adding $CHZ to my bags, as it is the market leader, and will benefit the most.
Image of the Day
Alpha Bites and Tweets
Claim your Rabby Initial Points - link
That’s a wrap.
Thanks for reading!
Until next Friday,
Viktor DeFi.
PS: I’d love to hear your feedback and comments.