Roaring Kitty\'s CHWY Stock Disclosure Skyrocketed Another Solana Memecoin

Solana-based project Chewy (CHWY) rose as much as 500% on Monday after meme stock trader ‘Roaring Kitty,’ legally known as Keith Gill, disclosed a 6.6% ownership stake in the online pet retailer Chewy Inc. via an SEC filing.

Solana-based project Chewy (CHWY) soared another 500% on Monday after meme stock trader ‘Roaring Kitty,’ legally known as Keith Gill, disclosed a 6.6% ownership stake in the online pet retailer Chewy Inc.

The Chewy token on Solana serves no apparent purpose beyond being a speculative play on the thriving memecoin scene. However, Gill's SEC filing on Monday appears to have sparked another wave of interest in meme coins linked to the popular trader.

On June 27, Roaring Kitty shared an image of a cartoonish dog on X. Sometime between June 27 and 28, anonymous developers created the Chewy meme token, using Gill's social media post as the main inspiration.

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Chewy became the latest Solana memecoin to benefit from its association with Roaring Kitty, despite the lack of any official connection between Gill and the project. Similar trends were observed with other Roaring Kitty-inspired memecoins, such as GME, KITTY, and ROAR.

CHWY Shareholder Accused of Manipulating GME Stock

Solana's CHWY price action coincided with a legal development, as a class-action lawsuit was filed against the famous GME trader by one Martin Radev. The complaint alleges that Gill manipulated GameStop stock by orchestrating a “pump-and-dump” campaign through cryptic social media posts on Reddit and X.

The filers claim that Gill purchased a large number of GME stock options and then returned to social media on May 12 to “pump his bags.” However, as reported by crypto.news on Monday, former federal prosecutor Eric Rosen expressed skepticism about the lawsuit's validity.

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