This week in Coins: GameStop Surge Spurs Meme Coin Mania and Bitcoin ends on a high

What a week it's been.

Sunday night return Roaring Kitty Meme stocks and digital coins and tokens are on the rise, resulting in trading.

The Internet star and financial analyst first posted on Twitter (aka X) three years ago. GameStop prices went through the roof on Monday morning when traders decided to stock up on the first meme.

Roaring Kitty—real name Keith Gill, aka DeepFuckingValue on Reddit—initiated meme stock trading in 2021, prompting amateur traders to buy shares of dying companies.

His Sunday post got traders back into the action. Shares of GameStop fell as the short-lived frustration faded, but were up more than 200% at one point this week, according to NYSE data.

Roaring Kitty's return boosts meme coin trading. As usual, the crypto world has yielded bigger profits for traders than the stock market.

Solana-based tax token GME went through the roof, hitting new highs before dipping sharply again. It's still high volume, and is now trading at $0.0046—a seven-day gain of 707 percent. Solana itself gained 10 cents in market capitalization, meanwhile, up 19% on the week to $172.

Major cryptocurrencies such as Dogecoin also rose to a frenzy. The 10th largest digital asset recorded strong gains this week, currently up 6% at $0.152. But small cap memes are some of the biggest profit makers. Floki and Pepe jumped 17% and 10% respectively last week.

And who can forget Bitcoin? Until Wednesday, the U.S. Bureau of Labor Statistics reported that inflation was not as strong as expected in April.

That raises the possibility of a cut from the Fed this year — and a big one for the biggest digital asset. of The price of Bitcoin Now at $66,830, it has increased by 10% in seven days, according to CoinGecko – the highest since the event of the decrease in April.

Edited by Andrew Hayward.