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Nidhi Kolhapur
Nidhi Kolhapur
Author
Nidhi is a Certified Digital Marketing Executive and Passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.
- Jun 03, 2024 07:51 UTC
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Roaring Kitty Returns! Meme Stock King Reveals Massive $115 GME Holdings
Roaring Kitty, a popular meme stock trader, revealed his holdings which include 5 million GME stocks and call options.
The value of his holdings is over $180 million and the news boosted GameStop stock price.
His re-emergence revived interest in altcoins with GameStop-inspired meme coins rallying significantly.
After more than three years of silence on Reddit, famous meme stock trader Keith Gill, known as Roaring Kitty, has made a striking return by sharing details about his portfolio. On Sunday, Gill revealed that he holds 5 million shares of GameStop (GME), which he bought at $21.27 per share. These shares are now worth over $115 million.
In addition to his shares, Gill has 120,000 call options with a strike price of $20, set to expire on June 21, 2024. He bought these options at $5.68 each, and they are now valued at more than $65 million.
Evaluating the Market Impact
Gill’s market influence is well-known, especially during the 2021 altcoin bull market, despite facing investigations by the United States Securities and Exchange Commission (SEC). Currently, GameStop Corp. Cl A (NYSE: GME) shares are trading around $22.91, up 22 percent in the past five days.
Renewed Hopes for Altseason
Gill’s comeback after the 2022/2023 crypto bear market has sparked new hopes for an altseason. GameStop-inspired meme coins on various blockchains have surged by over 100 percent in the past week.
For example, GME (GME) on the Solana (SOL) network jumped by more than 232 percent in the last 24 hours, trading at about $0.0132. This coin’s trading volume was double its market cap, showing strong on-chain demand.
It’s Meme Coin Mania Again!
Another GameStop-themed project, GME (Ethereum) (GME), increased by 620 percent in the last 24 hours, trading at around $0.000034. Similarly, GME (BASE) (GME), a meme coin on Coinbase’s Base network, surged over 175 percent in the same period, trading at about $0.037 on Monday during the early London session.
Also Check Out: This Altcoin is Heavily Undervalued: Why it Failed to Gain Attention Despite Major Upgrade?
Gill’s return and the market excitement highlight his lasting impact on the meme stock and cryptocurrency communities. As traders and investors watch closely, the potential for continued market activity remains high.
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