Solana
GameStop-Inspired Solana Memecoin Soars Over 80% as Roaring Kitty Posts GME Position Worth $586 Million
It’s 2021 again as shares of video retailer GameStop (GME) soared Thursday after influential retail trader Keith Gill, better known by his aliases RoaringKitty or DeepFuckingValue, provided an update on his massive bet on stocks in difficulty.
According to a screenshot posted on RedditGill’s stock and options position is now worth some $586 million combined and announced a Live streaming on YouTube for Friday. GameStop shares closed Thursday’s session up 47%.
The action also reverberated through the digital asset market. The Solana-based GME meme token, which was inspired by GameStop but has no affiliation with the company, has surged more than 80% in the past 24 hours, according to CoinGecko data, despite the broader crypto market declines. Micro-cap token AMC, which shares the name of the struggling movie theater chain but also has no affiliation, also surged 83%.
Gill, who rose to fame during GameStop’s brief squeeze during the pandemic years, sparked a memecoin frenzy last month when he returned to social media after three years of silence. Since then, the GME token has risen over 3,000% since mid-May and surpassed the market cap of $120 million.