- GME led the Solana memecoins gainers chart.
- dogwifhat and Popcat were other assets that saw significant price increases.
Solana memecoins have seen a recent surge, largely fueled by a single post. Among them, the GameStop token [GME] took the lead in driving the uptrend despite previous stagnant performance.
Other memecoins on the Solana [SOL] network, such as dogwifhat [WIF]Bonk [BONK]and Popcat [POPCAT] have also benefited from the positive trends currently observed in SOL memecoins.
Roaring Kitty rolls Solana memecoins
A post created by the social media account “Roaring Kitty” on May 13 caused notable moves in Solana memecoins.
“Roaring Kitty” is the story of Keith Gill, a trader whose videos have previously influenced spikes in memecoin values, most notably in GameStop (GME).
How GME responded
AMBCrypto’s analysis of the GameStop (GME) price movement revealed a significant increase on May 13. GME value shot up more than 1,600%, reaching $0.009 from around $0.0005.
This increase marked an all-time high for GME, which set a new all-time high at the time of the analysis. At the time of writing, the price was trading around $0.01, indicating a further increase of over 20%.
Also, the Relative Strength Index (RSI) indicated a strong bear trend, with the RSI above 80, indicating an overbought situation.
Source: TradingView
Despite the strong increase, continued momentum may require further volume increases. Nevertheless, GME emerged as the biggest gainer among the Solana memecoins over the past 24 hours.
Popcat and dogwifhat share the uptrend of memecoins
Analysis of the Solana memecoins rankings revealed that Popcat was another notable winner over the past 24 hours.
Popcat’s chart showed a gain of over 16.5% on May 13, with the trading price hovering around $0.48. At the time of writing, the price was trading close to $0.5, which represents a further increase of over 3%.
Similar to GME, Popcat’s Relative Strength Index (RSI) suggested a bull trend.
Source: TradingView
Meanwhile, dogwifhat also posted gains, although less substantial than GME and Popcat. On May 13, dogwifhat posted a gain of over 1% and was trading around $3. Currently, the price is trading just above $3, reflecting an increase of over 2%. Despite the smaller gains, Dogwifhat remained the largest Solana memecoin with a market capitalization of over $3 billion.
Source: TradingView
What next with Solana’s memecoins?
Roaring Kitty’s recent post sparked interest in GME and other Solana memecoins. However, the next moves for these coins cannot be predicted with certainty as Roaring Kitty’s activity appears to be ongoing.
Read Solana’s [SOL] Price forecast 2024-25
Should Roaring Kitty post positive updates regarding GME, other memecoins could experience another uptrend.
The events that unfold over the rest of the week will be intriguing to observe as they could shed more light on the trajectory of these memecoins.