Roaring Kitty's Reddit Return Ignites GameStop Frenzy, Solana Meme Coin Soar 300%
Keith Gill's $180 Million GameStop Bet Reignites Meme Stock Mania, Fueling 300% Surge in Solana-Based Meme Coins.
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- Author: Sheldon Cooper
- Published: June 3, 2024 at 15:16
- Updated: June 3, 2024 at 15:41
Solana-based meme coins are surging after GameStop (GME) stock skyrocketed 100% in pre-market trading. The catalyst was a Reddit post by Keith Gill, aka "Roaring Kitty," revealing his massive $180 million GME position, including $65 million in call options expiring June 21st with a $20 strike price.
This news sent the Solana meme coin $GME soaring 300%, surpassing a $100 million market cap. Other meme coins related to the GameStop narrative, such as $Kitty (named after Roaring Kitty), also saw significant gains.
The renewed interest in GME has the potential to bring widespread attention to Solana, as the blockchain is a popular platform for meme coin trading. This could lead to a significant influx of new users to the Solana ecosystem.
This developing story highlights the power of meme stocks and the growing influence of meme coins in the crypto world. It will be interesting to see how this trend evolves and what impact it has on the broader cryptocurrency market.
Warning: Meme coins are highly volatile and speculative assets. Investors should be aware of the risks involved before investing.