{"id":2386,"date":"2024-06-03T19:30:56","date_gmt":"2024-06-03T19:30:56","guid":{"rendered":"https:\/\/cryptd.in\/solana-based-gamestop-tribute-token-gme-soars-300-following-roaring-kittys-return\/"},"modified":"2024-06-03T19:30:56","modified_gmt":"2024-06-03T19:30:56","slug":"solana-based-gamestop-tribute-token-gme-soars-300-following-roaring-kittys-return","status":"publish","type":"post","link":"https:\/\/cryptd.in\/en\/solana-based-gamestop-tribute-token-gme-soars-300-following-roaring-kittys-return\/","title":{"rendered":"Solana-Based GameStop Tribute Token (GME) Soars 300% Following Roaring Kitty\u2019s Return"},"content":{"rendered":"

After two silent weeks, Roaring Kitty\u2019s latest roar has shaken the crypto market. The renowned trader has again set the world ablaze after revealing his substantial 5 million GameStop shares holdings. Following his posts, GameStop\u2019s shares soared in the premarket by 90%, and the Solana-based tribute token, GME, skyrocketed by 300%.<\/p>\n

Roaring Kitty\u2019s Return To Reddit Sets Market On Fire<\/h2>\n

On Sunday night, Keith Gills, known as Roaring Kitty, returned<\/a> from a two-week hiatus. The trader, known for his role in the GameStop saga, wreaked havoc after posting on Reddit for the first time in three years.<\/p>\n

Roaring Kitty\u2019s \u201cGME YOLO Update\u201d post unveiled that Gill owns 5 million GameStop shares, worth around $115 million. Additionally, he has $65 million worth of GME option calls with a $21 strike expiring on June 21.<\/p>\n

The revelation seemingly congested the order flow immediately as the volume of investors trying to buy GME Shares skyrocketed. As one X user informed<\/a>, orders were being canceled, even \u201cwhen you put in a high-risk ask.\u201d<\/p>\n

According to the investment research<\/a> platform Quiver Quantitative, Roaring Kitty\u2019s net worth could surpass former House Speaker Nancy Pelosi\u2019s, depending on how GME moves this Monday.<\/p>\n

Gill\u2019s GME position sat him at a $210 million net worth at the time of the post. Meanwhile, Pelosi\u2019s estimated net worth rounds the $245 million mark, making her the second-richest US politician on Quiver\u2019s list.<\/p>\n

At the start of Monday, GameStop\u2019s GME price had risen 93% at the premarket open, reaching $45.73. As reported<\/a> by an X user, based on the premarket price, his position increased by around $300 million. If GME reaches the $70 range, Gill\u2019s position would be worth over $1 billion.<\/p>\n

Solana-Based GME Jumps 300%<\/h2>\n

Roaring Kitty\u2019s ripple effect also drove attention to the Solana-based memecoin GME. Solana\u2019s GME was launched in February 2024 as a tribute to GameStop\u2019s meme stock event from 2021.<\/p>\n

During the trader\u2019s first return to the crypto space on May 13, Solana\u2019s GME saw a surge of 3,921%. The token went from trading for $0.0004914 to $0.01976 before retracing to the $0.0035 price range in the following days.<\/p>\n

As Roaring Kitty went silent, the Solana memecoin<\/a> hovered between $0.0035-$0.0040. However, Gill\u2019s latest post has fueled market interest in the token by 1,500%, with a daily trading volume of $237 million.<\/p>\n

Moreover, the token has increased by over 300% since the trader\u2019s posts, going from $0.003907 to $0.01594 as Monday started.<\/p>\n

Lookonchain reported<\/a> that a GME whale\u2019s smart trading move was paying off. According to the post, a whale has shown a track record of buying Solana\u2019s GME at low prices and selling it at highs.<\/p>\n

In February, a trader spent 1,409 Solana (SOL), worth around $165,000, to buy 68 million GME following the token\u2019s first price drop. After Gill\u2019s first comeback<\/a>, the trader sold $35 million GME for 3,447 SOL, worth around $503,000.<\/p>\n

This trader bought another 78.57 million tokens worth 3,059 SOL when the price fell to $0.0067. At the time, the whale had around $593,000 in unrealized profits. Following Roaring Kitty\u2019s second return, the trader\u2019s holdings of 108 million GME tokens.<\/p>\n

His current holdings are worth around $1.5 million and represent an unrealized profit of $1.37 million on the Solana-based memecoin.<\/p>","protected":false},"excerpt":{"rendered":"

After two silent weeks, Roaring Kitty\u2019s latest roar has shaken the crypto market. The renowned trader has again set the world ablaze after revealing his substantial 5 million GameStop shares holdings. Following his posts, GameStop\u2019s shares soared in the premarket by 90%, and the Solana-based tribute token, GME, skyrocketed by 300%. Roaring Kitty\u2019s Return To […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2386","post","type-post","status-publish","format-standard","hentry","category-feeds"],"yoast_head":"\nSolana-Based GameStop Tribute Token (GME) Soars 300% Following Roaring Kitty\u2019s Return - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/en\/solana-based-gamestop-tribute-token-gme-soars-300-following-roaring-kittys-return\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana-Based GameStop Tribute Token (GME) Soars 300% Following Roaring Kitty\u2019s Return - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"After two silent weeks, Roaring Kitty\u2019s latest roar has shaken the crypto market. The renowned trader has again set the world ablaze after revealing his substantial 5 million GameStop shares holdings. Following his posts, GameStop\u2019s shares soared in the premarket by 90%, and the Solana-based tribute token, GME, skyrocketed by 300%. 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