Meme coins like Brett, Jasmy, Pepe, and GameStop (GME) will be in the spotlight on Monday as investors focus on US meme stocks when the market opens.
These tokens will be watched closely after Roaring Kitty, a trader who popularized the meme stock investing craze disclosed his GameStop holdings. The trader, whose real name is Keith Gill, owns GME stock worth $180 million. His position also comprises $65 million worth of options in the June 20th strike call.
Roaring Kitty has become one of the most popular traders on Wall Street. Last month, he stirred a rally in meme companies like GameStop, AMC Entertainment, Blackberry, and Clover Health by just reappearing on X (Twitter).
Keith’s popularity surged in 2021 as he stirred a stock surge of highly shorted companies in risky industries. GameStop is a slow-growing video game retailer while AMC Entertainment is a highly-leveraged movie theatre company.
Therefore, most meme tokens will react to the GME stock performance when the market opens on Monday. Indeed, the GameStop (GME) meme token was one of the best performers in the market on Monday morning as it surged by over 220% to $0.01163. Its market cap has jumped to over $80 million.
JASMY vs Pepe vs Brett tokens
Other meme coins have done well since Roaring Kitty sparked the meme stock surge in May. Brett token soared to a record high of $0.129 on Sunday, giving it a market cap of over $1 billion. Its surge accelerated after it became available in Seamless Protocol, a leading lending protocol on the Base Blockchain.
Jasmy was also one of the top beneficiaries of last month’s action in the meme stock and coins market. It soared to a high of $0.40, which was 78.7% above the lowest point this year. The Pepe token jumped to $0.00001719, 1,980% above the year-to-date low.
Therefore, there is a likelihood that these tokens will see more demand if GameStop sparks a rally among popular meme assets. However, it is worth noting that the 2021 meme stock rally ended in pain as most of them pulled back. Bed Bath & Beyond went bankrupt while Wish.com was sold for a bargain.
The same situation happened in May as the GameStop stock crashed by over 64% from its highest point. AMC stock fell by 63% from its monthly high while Blackberry fell by 27%.
