These Meme Coins Skyrocket Triple Digit as ‘Roaring Kitty’ Returned to Reddit

Keith Gill, known online as “Roaring Kitty,” posted on Reddit that he owns $181.4 million worth of GameStop (GME) stock and call options.

Following his post on Reddit, GME, ROAR, and KITTY meme coins rose 315%, 660%, and 477%, respectively.

GameStop Meme Coin Rally

generation mail, titled “GME YOLO UPDATE – June 2, 2024,” marks his first activity on Reddit in three years. Under his account “u/DeepFuckingValue,” Gill disclosed $65.7 million in GameStop call options and $115.7 million in stock.

According to Jason Hitchcock, head of ecosystem at web3 development platform Thirdweb, Jill's combined holdings are effectively equivalent to owning 17 million shares of GameStop. At the recent trading price of $23 per share, that puts the value of his position at about $391 million, representing 5.6% of GameStop's market cap.

For those who need this translation:
– Call options give the buyer the right to buy shares at a specific price. They provide leverage because a small change in the stock price can result in a large change in the value of the option
Delta measures the expected amount of the option price… pic.twitter.com/Wd1rUKrJ3n

-Jason Hitchcock (@JasonHitchcock) June 3, 2024

Following Jill's post, coins inspired by GameStop and Roaring Kitty saw significant growth. GME, ROAR and KITTY rose 315%, 660%And 477%Respectively, according to CoinGecko data. However, they have rebounded, trading at $0.01005, $0.00959, and $0.00181, respectively, at the time of writing. GameStop stock itself had a pre-market run He increases By more than 300%.

GME is a Solana-based token that uses the same ticker as GameStop but has no official affiliation with the company. Likewise, ROAR and KITTY are centered around Gil's online personality but are not officially associated with him.

Growling Kitty Teases GameStop Frenzy's Return

The Roaring Kitty About 1000%.

.@TheRoaringKitty He came back with another #GameStop pump.

Is it really?

This time he simultaneously made a post on reddit under his username “/u/DeepFuckingValue”. So the odds are very high that it is him.

He shared a screenshot of $115,000,000 $GME Shares and… https://t.co/Dou55Shihh pic.twitter.com/fK1hZmSAVF

– Colin talks about cryptocurrencies 🪙 (@ColinTCrypto) June 3, 2024

However, not all reactions were positive. A post on r/WallStreetBets expressed frustration with Jill's long absence and the resulting uncertainty for retail investors. “DFV was posted on r/Superstonk, you should go there and do ape stuff if you're interested in that,” books Contributor u/zjz.

“Good luck RK, crazy situation, but all your mystery and invisibility has been sold at retail and it would be nice not to leave them in disarray so the rest of the world can deprogram them this time.”

Keyboard monkey for trading on X to caution Jill's recent actions may be a setup to capitalize on the renewed hype.