GameStop

Reddit

Roaring Kitty

The GameStop <a href="https://coinmarketcap.com/currencies/gme/" rel="noopener noreferrer nofollow">price</a> surged over 199% in the last 24 hours after Keith Gill, known as “<a href="https://insidebitcoins.com/news/cat-themed-cryptos-explode-after-roaring-kitty-returns-to-ignite-a-meme-coin-rally-led-by-gamestop-gme" rel="noopener noreferrer nofollow">Roaring Kitty</a>” on X, revealed in a Reddit post that he is holding $181.4 million worth of GME stock and call options.
Known for his influential role in the 2021 GME short squeeze, the trader brought an end to his 3-year hiatus on Reddit after posting yesterday for the first time since April 2021.
<h2 id="span-style-font-weight-400-roaring-kitty-sitting-on-6-8-million-profit-span">Roaring Kitty Sitting On $6.8 Million Profit</h2>
Gill shared a <a href="https://www.reddit.com/r/Superstonk/comments/1d6r5vp/gme_yolo_update_june_2_2024/" rel="noopener noreferrer nofollow">screenshot</a> that shows he bought 5 million GME shares worth $115.7 million and allocated $65.7 million towards call options. These positions seemed to have paid off for him so far.
The trader has gained more than $9.3 million through his GME holdings, according to the screenshot. However, he is sitting on an unrealized loss of almost $2.5 million on his call options.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 BREAKING: Roaring Kitty has finally posted on Reddit after 3 years.
 He has $65M worth of <a href="https://twitter.com/search?q=%24GME&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$GME</a> Gamestop calls with a $21 strike expiring in 19 days…
 He also has $115M of shares, making his total position close to $200M in Gamestop.
 Oh. My. Goodness. <a href="https://t.co/yV5AWBZMnX" rel="noopener noreferrer nofollow">pic.twitter.com/yV5AWBZMnX</a>
 — amit (@amitisinvesting) <a href="https://twitter.com/amitisinvesting/status/1797429796848488802?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">June 3, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Following the post on Reddit, Robinhood’s overnight markets showed that GME on the traditional financial markets jumped over 19% in just 20 minutes. This spike saw the stock’s value soar to $27.58.
<h2 id="span-style-font-weight-400-gamestop-leads-the-pack-as-meme-coin-market-lags-span">GameStop Leads The Pack As Meme Coin Market Lags&nbsp;</h2>
<a href="https://insidebitcoins.com/news/gamestop-price-prediction-gstop-plunges-15-on-roaring-kitty-snub-as-traders-shift-to-a-new-solana-token-for-parabolic-potential" rel="noopener noreferrer nofollow">GameStop</a> was the best-performing meme coin over the past 24 hours. In second place was Hoppy (HOPPY), after its price rose more than 29% throughout the past day of trading.&nbsp;
<img decoding="async" class="alignnone wp-image-530546" src="https://insidebitcoins.com/wp-content/uploads/2024/06/Roaring-Kitty-post-sends-GME-soaring-300x158.jpg" alt="Roaring Kitty post sends GME soaring" width="687" height="362" srcset="https://insidebitcoins.com/wp-content/uploads/2024/06/Roaring-Kitty-post-sends-GME-soaring-300x158.jpg 300w, https://insidebitcoins.com/wp-content/uploads/2024/06/Roaring-Kitty-post-sends-GME-soaring-1024x538.jpg 1024w, https://insidebitcoins.com/wp-content/uploads/2024/06/Roaring-Kitty-post-sends-GME-soaring.jpg 1200w" sizes="(max-width: 687px) 100vw, 687px">
Top-performing meme coins (Source: <a href="https://coinmarketcap.com/view/memes/" rel="noopener noreferrer nofollow">CoinMarketCap</a>)
With the recent surge, the GameStop price is up over 225% in the last 7 days. The rest of the meme coin market did not follow GME’s trend, however, with the sector’s collective valuation registering a slight drop during the same period.
Nevertheless, the upbeat market sentiment following meteoric gains from GME could spillover to also have a positive impact on meme coin ICOs. <a href="https://insidebitcoins.com/visit/playdoge" rel="noopener noreferrer nofollow">PlayDoge</a>, which has managed to raise more than $1.4 million through its presale in less than six days, could be one of the main beneficiaries of any reallocation of capital.&nbsp;
Another red hot presale is <a href="https://insidebitcoins.com/visit/sealana" rel="noopener noreferrer nofollow">Sealana (SEAL)</a> on Solana, a project that has rocketed past $3 million in funds raised.
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GameStop Surges 199% After Roaring Kitty Reveals $180 Million GME Stake

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