Roaring Kittys 586M GameStop Investment Propels GME Memecoin to Soar Over 100

Roaring Kitty’s GameStop Investment Surges, GME Memecoin Skyrockets by 100%
Keith “Roaring Kitty” Gill, the retail trader hero, made headlines as his GameStop portfolio hit a whopping $586 million, causing both GameStop’s stock and a meme coin to soar on Friday. The news was shared on the r/Superstonk subreddit, revealing Gill’s impressive holdings in GameStop stock and call options.
Overnight trading saw GameStop’s shares surge by 47%, reaching $46.55 per share, while the meme token GME, based on Solana, jumped over 103% by 1:20 a.m. ET.
The GME meme coin was launched in January 2024 on the Solana blockchain to commemorate the GameStop stock frenzy’s anniversary. Inspired by the Reddit community’s epic rally in 2021, the coin is a fan-made project that pays homage to the GameStop short squeeze saga, although it is not officially affiliated with GameStop itself.
The surge in GameStop stock and the meme coin followed a Reddit screenshot showing Gill’s portfolio value at $586.4 million on Friday.
Gill’s journey began in 2019 when he started buying GameStop shares, believing in the company’s potential. Through social media platforms like YouTube and Reddit, he shared his analysis, sparking a community of investors who resonated with his views, particularly during the pandemic. This online buzz contributed to the dramatic rise in GameStop’s stock price. Despite his real identity being revealed as Keith Gill in February 2021, he continued to advocate for GameStop, even testifying before Congress in support of his investment thesis.
In May, Gill made a return to posting memes on his X account after three years, leading to a surge in meme stocks, particularly GameStop. He has scheduled a live YouTube broadcast for Friday at 12 p.m. ET, titled “Roaring Kitty Live Stream – June 7, 2024,” which has already garnered over 10,000 eager viewers awaiting its start.