Cryptocurrency jumps 400% after news of 'Roaring Kitty' involvement
At the time of writing, meme cryptocurrency Chewy (CHWY) is up just over 400% in the last 24 hours, according to data from CoinMarketCap.
The recent surge can be attributed to a clear catalyst: Keith Gill, also known as “Roaring Kitty" revealed , that he owns a 6.6% stake in the Chewy company.
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A serious boom in the price of Bitcoin will not happen, according to a billionaireHe is quite famous for his significant role in GameStop's 2021 short squeeze.
For context, Chewy Inc. is an online retailer specializing in food and pet products.
Gill also posted an image of a dog on a blue background on the platform on X (Twitter) three days before the price spike of the CHWY token. Coincidentally, cryptocurrency appeared at the same time.
Although Gill did not mention the pet food company in his post, it led to speculation of potential market manipulation or mere coincidence behind the spike in the token's value.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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