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Keith Gill’s return, closely tied to GameStop’s stock rally in 2021, has sparked a massive flood of Solana-based meme coins via the Pump.fun protocol.
GME Stonks, GameOver and KiethGillWifHat are just a few examples of tokens launched via Pump.fun in the past 24 hours after Gill, a financial analyst and investor also known as Roaring Kitty, posted the meme on Twitter. age.
Pump.fun, which allows anyone to release meme coins for as little as 0.02 SOL ($3), had its busiest day of distribution on Sunday after Gill posted an image of a man hunched over in a chair with a video game controller in his hand. Recorded. According to Dune, a total of 14,500 different meme coins were released through Pump.fun that day, setting a new record. dashboard.
Keeping with the pace of new Solana tokens on Sundays, over 7,400 tokens were created via Pump.fun on Monday as of this writing. On Twitter, the Pump.fun account appeared to be referencing Gill’s cat-themed nickname and an influx of related tokens. said“I’m sure today is a good day for cats.”
Pump.fun also acknowledged the not-so-good aspects of meme coins, such as how the value of volatile assets can change. A “lug pull” causes you to plummet. The Pump.fun team asked Gill on Twitter if he would be “interested in stimulating (his) followers with a coin launch,” effectively inviting him to participate.
Whether the anonymous developer simply added an image of a hat to Gill or used a widely used spelling of the word, Monday’s Gill and GameStop themed coins were added to the growing list. 512,000 tokens It is distributed using the Solana protocol. Since the January launch of Pump.fun, these launches have generated approximately 127,000 SOL, or $19 million in protocol revenue in the form of gas fees.
Some Solana-based tokens were inspired by a video Gill posted Monday after his initial reappearance. For example, including the Marvel superhero Wolverine in one game resulted in the release of a token called Roaring Wolverine, which appears to have already crashed.
Once known for frequently posting top-rated posts on Reddit’s r/WallStreetBets, Gill is credited with rallying thousands of traders in 2020 to bet on Wall Street through one of the most shorted stocks. But after the historic short squeeze that sent GameStop’s stock price soaring to $483, the numbers for the modern financial legend have all but disappeared from public view.
Trading was halted on Wall Street on Monday after Gill’s reemergence, sending shares of GameStop soaring. stopped several times. Meanwhile, Solana-based tokens, which borrowed GameStop’s ticker name, rose nearly 1,700%. Others were inspired by By the meme stock craze.
Edited by Ryan Ozawa.
