Several dog-themed tokens moved higher on Tuesday, as shares of video game retailer GameStop (NYSE: GME) surged more than 19% in premarket trading.

Two tokens on the Ethereum and Solana blockchain, Floki (FLOKI) and dogwifhat (WIF), are respectively up 8% since the start of the Asian trading session. Dogecoin (DOGE) has risen 2% in the past four hours, while the Solana-based bond k (BONK) has gained 5. 5%.

Meme tokens tend to coincide with stocks such as GameStop and cinema chain AMC Entertainment Holdings (NYSE: AME). Some investors see these moves as a frenzy, which could lead to irrational trading in certain stocks and meme tokens.

In an earlier interview, Mog token developer Shisui told CoinDesk that the 2021 "Gamestop mania largely spread to $ DOGE and other meme tokens" —— suggests that this could repeat if GME continues to be favored by retail traders.
Tokens such as DOGE and FLOKI rose as much as 30% in the second week of May after a popular post by retail trader Keith Gill sparked. Gill's cult following contributed to the notorious GameStop short squeeze in 2021.

Gill converted 58,000 into about $50 million between 2019 and 2021, triggering a share price rally after three years of Posting through his @TheRoaringKitty X account.