By
Kseniia Klichova
June 28th, 2024
The popular meme stock trader Keith Gill, alias Roaring Kitty revealed a GME stock portfolio of more than $110 million.
After remaining silent on Reddit since 2021, popular GameStop stock trader Keith Gill, alias Roaring Kitty on X platform, has resurfaced with a post on Sunday. Notably, Gill posted on Reddit to reveal details of his GameStop Corp (NYSE: GME) portfolio. According to the Sunday Reddit post, Gill currently holds 5 million GME stocks, which he acquired for $21.27, currently worth about $115.7 million.
Additionally, Gill holds 120k GME Call Options worth about $65 million, which are set to expire on June 21, 2024. As of Sunday, Gill’s GME call options portfolio was down about 3.7 percent as he acquired them at $5.68 per share.
Following the revelation of Roaring Kitty’s GameStop portfolio, GME stock spiked more than 88 percent in the past 24 hours to trade at about $43.66 during Monday’s pre-market session.
GameStop is a mid-cap entertainment company valued at around $7.09 billion, with 306 shares outstanding as of this report.
As Coinspeaker previously pointed out, the 2021 altcoin pump was heavily influenced by the GameStop rally that was triggered by Gill’s social media activity. According to the latest stock market data, GME shares pumped over 41 percent last month, despite the periodic GameStop market dump.
The entertainment-focused company has attracted notable attention from short-term stock traders, thus its impressive performance year-to-date.
Meme Coin Frenzy Triggered by GameStop Rally
The notable rebound of the GameStop stock recently has triggered a fresh meme coin frenzy, which could ultimately trigger mass web3 adoption. Moreover, trading of GameStop shares is often halted every time there is heightened volatility. As a result, more meme stock traders are opting to trade blockchain-based products since it is a liberal market.
According to a popular crypto analyst alias Scofield on the X platform, the recent GME stock spike will trigger a massive meme coin rally ahead. The crypto analyst vouched for top-tier meme coins such as Shiba Inu (SHIB), Dogecoin (DOGE), dogwifhat (WIF), Pepe (PEPE), Bonk (BONK), and Floki Inu (FLOKI).
However, the crypto analyst narrowed down to Floki Inu as the best candidate to long in this bull run due to its impressive fundamentals and massive supply shock.
BIG week for #memecoins IMO!
Roaring Kitty, the memestock and GameStop legend, just revealed a $200 million GameStop position and a bullish vibe!
This is massively bullish for memecoins like $FLOKI, $DOGE, $WIF, $PEPE, $SHIB, and $BONK.
I expect #FLOKI to benefit the most from…
— Scofield (@Crypto_Scofield) June 3, 2024
Following the re-emergence of Roaring Kitty after a treacherous bear season, GameStop-umpires meme coins on different blockchains have significantly benefited. For instance, GME (Ethereum) has spiked over 10X in the past 24 hours to trade around $0.000057 on Monday during the London session.
The GME (Base) rallied more than 218 percent in the past 24 hours to trade around $0.0429 at the time of this reporting. Similarly, Solana (SOL)-based GME pumped more than 200 percent in the past 24 hours to trade $0.0146.
