Solana
GME Solana Meme Coin Rises 150% as Roaring Kitty Reignites GameStop Frenzy
GameStop stock price jumped Monday in pre-market trading after the return of bull trader Roaring Kitty on Sunday evening. And while price momentum has slowed since markets opened, the hype has led to a huge surge in the price of the unofficial GME meme coin on Solana.
The GME token is up 150% in the last 24 hours alone, reaching a current price of around $0.01 at the time of writing. It climbed as high as $0.016 late Sunday, which was the highest price seen in more than two weeks, but it is gradually falling alongside GameStop’s stock price.
GME trading volume increased from around $15 million in a 24-hour period to around $280 million as of this writing, with significant demand supporting the huge price surge. The token’s market capitalization stands at $68 million at the time of writing.
GameStop’s stock price nearly doubled between Friday’s close and Monday’s open, going from less than $23 to just over $40. This increase was fueled by the return of Roaring kittenaka Keith Gill or DeepFuckingValue on Reddit, who tweeted on Sunday evening after an absence of more than two weeks from social networks.
It’s something of a aftershock after Roaring Kitty’s initial return in mid-May, nearly three years after she disappeared from social media following the 2021 stock market saga. At the time, her live streams , his tweets and Reddit posts contributed to a huge surge in GameStop’s stock price and also led to a short sale that cost hedge funds billions of dollars.
Its return in mid-May led to a massive surge in the price of GameStop shares – as well as the GME token on Solana – but the hype cooled after it disappeared again following a week of memes and clips video tweeted.
Now he’s back, tweet a “reverse card” of Uno Sunday before revealing via Reddit that he owns more than $200 million in GameStop stock and stock options. Short sellers of GameStock shares had to lose nearly a billion dollars at Monday’s openingaccording to Unusual Whales, due to the huge pre-market price increase.
But GameStop’s stock price has cooled since the open, currently falling to a price of around $30. While it’s up 30% from Friday’s close, it’s also down about 25% from Monday’s high price.
The GME meme coin on Solana is now down just over 40% from the all-time high price set Sunday evening, despite the massive 140% gain in the past 24 hours.