Solana-Based GameStop Tribute Token (GME) Soars 300% Following Roaring Kitty’s Return

After
two
silent
weeks,
Roaring
Kitty’s
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’s
shares
soared
in
the
premarket
by
90%,
and
the
Solana-based
tribute
token,
GME,
skyrocketed
by
300%.

Related
Reading

Roaring
Kitty’s
Return
To
Reddit
Sets
Market
On
Fire

On
Sunday
night,
Keith
Gills,
known
as
Roaring
Kitty,

returned
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.

Roaring
Kitty’s
“GME
YOLO
Update”
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.

The
revelation
seemingly
congested
the
order
flow
immediately
as
the
volume
of
investors
trying
to
buy
GME
Shares
skyrocketed.
As
one
X
user

informed,
orders
were
being
canceled,
even
“when
you
put
in
a
high-risk
ask.”

According
to
the
investment

research
platform
Quiver
Quantitative,
Roaring
Kitty’s
net
worth
could
surpass
former
House
Speaker
Nancy
Pelosi’s,
depending
on
how
GME
moves
this
Monday.

Gill’s
GME
position
sat
him
at
a
$210
million
net
worth
at
the
time
of
the
post.
Meanwhile,
Pelosi’s
estimated
net
worth
rounds
the
$245
million
mark,
making
her
the
second-richest
US
politician
on
Quiver’s
list.

At
the
start
of
Monday,
GameStop’s
GME
price
had
risen
93%
at
the
premarket
open,
reaching
$45.73.
As

reported
by
an
X
user,
based
on
the
premarket
price,
his
position
increased
by
around
$300
million.
If
GME
reaches
the
$70
range,
Gill’s
position
would
be
worth
over
$1
billion.

Solana-Based
GME
Jumps
300%

Roaring
Kitty’s
ripple
effect
also
drove
attention
to
the
Solana-based
memecoin
GME.
Solana’s
GME
was
launched
in
February
2024
as
a
tribute
to
GameStop’s
meme
stock
event
from
2021.

During
the
trader’s
first
return
to
the
crypto
space
on
May
13,
Solana’s
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.

As
Roaring
Kitty
went
silent,
the
Solana

memecoin
hovered
between
$0.0035-$0.0040.
However,
Gill’s
latest
post
has
fueled
market
interest
in
the
token
by
1,500%,
with
a
daily
trading
volume
of
$237
million.

Moreover,
the
token
has
increased
by
over
300%
since
the
trader’s
posts,
going
from
$0.003907
to
$0.01594
as
Monday
started.

Lookonchain

reported
that
a
GME
whale’s
smart
trading
move
was
paying
off.
According
to
the
post,
a
whale
has
shown
a
track
record
of
buying
Solana’s
GME
at
low
prices
and
selling
it
at
highs.

In
February,
a
trader
spent
1,409
Solana
(SOL),
worth
around
$165,000,
to
buy
68
million
GME
following
the
token’s
first
price
drop.
After
Gill’s
first

comeback,
the
trader
sold
$35
million
GME
for
3,447
SOL,
worth
around
$503,000.

Related
Reading

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’s
second
return,
the
trader’s
holdings
of
108
million
GME
tokens.

His
current
holdings
are
worth
around
$1.5
million
and
represent
an
unrealized
profit
of
$1.37
million
on
the
Solana-based
memecoin.

Featured
Image
from
Unsplash.com,
Chart
from
TradingView.com