YEREVAN (CoinChapter.com) — The Chewy memecoin surged by nearly 30% after Keith Gill, also known as “Roaring Kitty,” made a mysterious social media post on X. The Solana-based Chewy token (CHWY) saw a significant rise in value as traders reacted to Gill’s post, despite no clear endorsement from him. In fact, the message was anything but clear.
Roaring Kitty’s Return Sends Chewy Memecoin Soaring on Social Sentiment
Keith Gill, or “Roaring Kitty” on X, famously known for his role in the GameStop short squeeze, returned to social media with his recent post, after a two-month hiatus. On Sept. 6, he posted an image on X featuring the Chewy memecoin.
Following the post, the Chewy token, built on the Solana blockchain, soared by 28%. According to CoinMarketCap, the Chewy token reached $0.011 against Solana.
Memecoins like Chewy often rely on social media sentiment rather than any technical value. Keith Gill’s post, while cryptic, triggered a strong reaction from traders, leading to the surge in Chewy memecoin’s price. The image he shared was seen by many as an indirect signal, even though its meaning remains unclear.
Keith Gill’s Cryptic Post Hints at Possible Exit from Chewy Token
Despite the price rally, Gill’s post suggests he might be distancing himself from the Chewy memecoin. The image he shared comes from Toy Story, showing a scene where Andy drops his favorite toy, Woody. However, in this version, the Chewy token logo replaces Woody, which many interpret as a sign that Gill may be dropping his involvement with Chewy.
Back in July, Gill revealed that he held a 6.6% stake in the online pet retailer Chewy. This ownership likely inspired the creation of multiple Chewy-themed memecoins, including the Chewy token on Solana.
Keith Gill Sparks GameStop Speculation with Chewy SEC Filing and Past Legal Battles
Shortly after Roaring Kitty’s X post, a $2 million purchase of GameStop (GME) shares was made. Market tracker Unusual Whales noted this in a Sept. 6 X post. While it’s unclear if Gill’s post had any direct influence, the timing of the GameStop stock buy has raised speculation.
Keith Gill became widely known for his involvement in the GameStop short squeeze in 2021, where GME stock soared by over 1,000%. His social media activity continues to influence both stock and crypto traders. Following his cryptic post about the Chewy token, many wonder if GameStop is poised for another surge.
In June, Gill faced a lawsuit from a GameStop investor, accusing him of securities fraud. The lawsuit claimed that Gill did not inform his followers about his plans to sell 120,000 call options before they expired in June. However, the lawsuit was dropped after just three days.
