Resume: Famous Trader Roaring Kitty Makes a Comeback Revealing GameStop Holdings π
After more than three years of silence on Reddit, renowned meme stock trader Keith Gill, aka Roaring Kitty, has resurfaced with revealing details about his investment portfolio. Gill disclosed holding 5 million shares of GameStop (GME) bought at $21.27 per share, now valued over $115 million. Additionally, he owns 120,000 call options with a $20 strike price set to expire in June 2024, purchased at $5.68 each, now worth more than $65 million.
Evaluating the Market Impact
Gillβs significant market influence, despite facing scrutiny from the SEC, has been notable. GameStop Corp. Cl A (NYSE: GME) shares are currently trading around $22.91, experiencing a 22 percent increase in the last five days.
Renewed Hopes for Altseason
Following Gillβs return post-2022/2023 crypto bear market, optimism for an altseason has surged. GameStop-inspired meme coins on various blockchains have seen over 100 percent growth in the past week.
For instance, GME (GME) on the Solana (SOL) network rose by more than 232 percent in the last 24 hours, trading at approximately $0.0132. The coin’s trading volume doubled its market cap, indicating robust on-chain demand.
Itβs Meme Coin Mania Again!
Another GameStop-themed project, GME (Ethereum) (GME), soared by 620 percent in the last 24 hours, reaching around $0.000034. Similarly, GME (BASE) (GME), a meme coin on Coinbaseβs Base network, surged over 175 percent in the same timeframe, trading at about $0.037 during Mondayβs early London session.
Find Out More: This Altcoin is Heavily Undervalued: Why it Failed to Gain Attention Despite Major Upgrade?
Gillβs comeback and the ensuing market frenzy underscore his enduring impact on the meme stock and crypto communities. As traders and investors monitor the developments closely, the potential for continued market activity remains high.
Hot Take: Opportunities Abound as Roaring Kitty Resurfaces in the Crypto Space! π
With Roaring Kitty revealing his substantial GameStop holdings and call options, the market is abuzz with excitement and renewed optimism. The surge in GameStop-inspired meme coins signifies a potential altseason revival, showcasing the lasting impact of influential traders like Gill on the crypto landscape. As the industry eagerly follows these developments, the stage is set for dynamic market movements and potential investment opportunities.
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