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GameStop-Inspired Solana Memecoin Soars Over 80% as Roaring Kitty Flashes $586M Worth of GME Position
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GameStop-Inspired Solana Memecoin Soars Over 80% as Roaring Kitty Flashes $586M Worth of GME Position
Jun 6, 2024 4:48 PM

It's 2021 all over again as shares of video retailer GameStop ( GME ) soared Thursday after influential retail trader Keith Gill, better known under his RoaringKitty or DeepFuckingValue aliases, provided an update on his massive bet on the embattled stock.

According to a screenshot posted on Reddit ( RDDT ), Gill's stock and options position is now worth some $586 million combined and announced a YouTube ( GOOG ) livestream for Friday. GameStop ( GME ) shares closed Thursday's session 47% higher.

Roaring Kitty, DeepFuckingValue has updated his GameStop ( GME ), $GME position.

He is worth now over $586 MILLION, with a 219% gain so far. pic.twitter.com/OM7nMayCvZ

-- unusual_whales (@unusual_whales) June 6, 2024The action rippled through the digital asset market, too. Solana-based meme token GME, which was inspired by GameStop ( GME ) but has no affiliation with the company, surged more than 80% over the past 24 hours, CoinGecko data shows, despite the broader crypto market pulling back. The micro-cap AMC token, which shares the name of the troubled movie theater chain but similarly has no affiliation, also jumped 83%.

Gill, who rose to fame during the GameStop ( GME ) short squeeze in the pandemic years, sparked a frenzy for memecoins last month when he returned to social media after three years of silence. Since then, the GME token is up over 3,000% since mid-May and surpassed the $120 million market capitalization.

Read more: GameStop Stock, Meme Tokens Surge as User ‘DeepFu*kingValue’ Returns to Reddit ( RDDT )

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