GameStop Corp. Cl A (NYSE: GME) stock has been on a rollercoaster ride lately, thanks to the return of the infamous meme stock trader Keith Gill, also known as Roaring Kitty, to social media after a long absence. However, the frequent halts in GME trading on traditional exchanges have paved the way for the emergence of meme coins in the midst of the current crypto bullish trend.

The surge in popularity of GameStop-inspired meme coins has been remarkable in the past 24 hours, especially with the news that Gill’s GME portfolio is nearing the $1 billion mark. For example, Solana-based Roaring Kitty (KITTY) saw a staggering 300% increase in value to reach $0.0344 on Friday.

Another Ethereum-based meme coin, Roaring Kitty (ROAR), also experienced a significant rally of over 126% to reach $0.00154 at the time of this update.

The Solana-based GME coin witnessed a surge of more than 115%, trading at around $0.025 with a daily average trading volume exceeding $357 million and a market cap of approximately $202 million.

On the other hand, the Ethereum-based GME coin saw an increase of over 83% in the past 24 hours, reaching around $0.00006286.

Looking at the bigger picture, the rise of parody meme coins following the GameStop phenomenon reflects the growing crypto FOMO. The meme coin industry has now surpassed $69 billion in market cap and over $5.8 billion in daily average trading volume.

With the US SEC showing no objection to Gill’s activities, there is a possibility of a meme coin frenzy triggering a new altseason. Additionally, the dominance of Bitcoin is expected to see a shift amidst the impressive pumps in Ethereum (ETH) and Binance Coin (BNB).

Tags: Meme Coins