A flood of crypto tokens with names referencing GameStop and famed trader Roaring Kitty have been created in the last 24 hours as developers try to ride a meme-coin resurgence

Keith Gill in his promotional post on YouTube in July 2020.Roaring Kitty/YouTube

Keith Gill’s return to social media, also known as “Roaring Kitty,” has sparked a flood of crypto meme tokens.

Microcap meme tokens with names like “GME” and “Roar” are up more than 1,000%.

Most of the tokens were created in the last 24 hours as developers tried to capitalize on the increased interest.

Keith Gill’s return to social media on Sunday caused prices to surge across a wide range of crypto meme tokens, with multiple coins being created on the Solana network in the last 24 hours.

The “GME” meme token, which borrows GameStop’s stock ticker, traded up 1,247% on Monday with total volume of over $70 million, according to data from CoinMarketCap. The token has no official connection with GameStop.

Another meme token created on the Solana network is “GIL,” which was created early Monday morning and is up more than 4,000% with total volume of nearly $7 million.

“ROAR” is another Solana-based meme token that was created on Sunday evening and traded up 1,856% on total volume of approximately $12 million. And then there’s “KITTY,” which is up thousands of percent to a market cap of over $26 million.

Creating a rapid return on these thinly traded tokens appears to be an attempt to capitalize on the sudden interest in Gill, his internet persona, and GameStop. Given their lack of intrinsic value, such cryptocurrencies often become nearly worthless, but developers can still profit from instant interest and price appreciation.

Gill’s tweet on Sunday – for the first time in almost three years – also set fire to meme stocks such as GameStop, which rose as much as 119% on Monday, and AMC Entertainment, which rose as much as 18%.

Gill’s tweet depicted a man leaning forward in a chair playing a video game; This was perhaps a suggestion that GameStop shares were getting serious after falling 92% from their January 2021 peak of $120.75 to $9.95 in April.

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