As of press time, GME coin, which has no official connection to GameStop, was trading at $0.01309, an increase of 220% in the last 24 hours, according to CoinMarketCap data. What is even more remarkable is that transaction volume increased tenfold in the same time period, reaching 213 million dollars. This sudden rise reveals the magnitude of the impact that a single image shared by Gill on the platform had on the market.

So, what did “Roaring Kitty” share? On June 3, Gill shared an image of a green UNO “turn down” card on the X platform. The post is considered the latest in a series of cryptic messages and memes Gill has shared since his return to social media platforms in May. Although it is not exactly known what meaning these movements find among investors, it is certain that they will create a movement in the market.

As the rise in GME coin created a domino effect, other memecoins also experienced significant increases. The memecoin called Kitty AI, which is also not affiliated with GameStop, more than doubled its value after Gill’s post. Kitty AI, currently trading at $0.007139, can be cited as an example of investors’ reaction to such encrypted messages.

Gill’s reappearance on social media resonated not only in the memecoin market but also in traditional exchanges. In a rare appearance on Reddit on June 2, Gill shared a screenshot showing that he purchased 5 million GME shares for $115.7 million. This move reignited investors’ interest in GameStop stock. In addition to buying the stock, Gill also invested $65.7 million in options, betting that the GME stock price would reach at least $20 per share by June 21.

Although the authenticity of the screenshot has not yet been confirmed, its impact on the market is undeniable. GameStop shares, which closed at $23.14 on May 31, have been trending upwards over the past month, partly attributed to Gill’s reactivated social media accounts.

Gill, who played a key role in the GameStop events during the COVID-19 pandemic, is seen by many as the hero of Reddit investors fighting against hedge funds that briefly sold shares of traditional gaming store GME. These moves caused GameStop’s stock price to rise more than 1,000% in under a month. Some market experts believe that this “short squeeze” led by Gill paved the way for the subsequent rally in other memecoins such as Dogecoin and Shiba Inu. In this view, retail investors have shifted their focus to other speculative assets.

The impact Gill’s social media posts had on the market is an indication of how sensitive and speculation-based investment tools memecoins are. Investors should approach such encrypted messages and screenshots with caution and make investment decisions based on thorough market research and their own risk tolerance. The return of “Roaring Kitty” and the rise in GME coin once again reveals that the memecoin market is as risky as it can be exciting.