Roaring Kitty’s $115m GameStop Comeback Spurs 90% Share Surge, GME Token Skyrockets 300%

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In the stillness of the past two weeks, the phenomenal trader Roaring Kitty broke the silence with a roar that triggered tremors in the cryptocurrency market. Making a dazzling comeback, he revealed his massive stake of 5 million shares in GameStop. This revelation didn’t go unnoticed as it influenced premarket shares of GameStop to escalate by 90% and spike the Solana-based tribute token, GME, by an astonishing 300%.

The renowned trader, real name Keith Gill, known for his pivotal role in the GameStop saga, made a dazzling return on Sunday night. He resurfaced on Reddit after a gap of three years, and this was no ordinary return. The moment he surfaced, he triggered a frenzy in the trading world with his display of holdings.

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The post entitled “GME YOLO Update” unveiled that Gill is the owner of 5 million shares of GameStop, a sizzling portfolio valued at approximately $115 million. In addition to his impressive portfolio, he also has GME option calls valued at $65 million, with a strike price of $21, expiring on June 21.

Following his revelation, a wave of investors rushed to buy GME shares, resulting in the volume of buyers to skyrocket. It is reported that the extremely high demand caused some orders to be canceled, even those that were classified as high-risk asks.

As per the investment research platform Quiver Quantitative, the significant shift in GME’s movement on Monday could potentially put Gill’s net worth ahead of previous House Speaker Nancy Pelosi’s. At the moment of his bombshell post, Gill’s net worth had already reached a staggering $210 million mark as compared to Pelosi’s estimated net worth of about $245 million.

As Monday dawned, GameStop’s GME price started escalating, rising 93% at the premarket open, hitting a high of $45.73. Based on this premarket price, Gill’s position has skyrocketed by approximately $300 million. If the GME price reaches the $70 range, Gill’s position could soar over the $1 billion marks.

The influential Roaring Kitty also caused a surge of attention towards the Solana-based memecoin GME, launched in February 2024 as a tribute to GameStop’s meme stock incident from 2021. The token saw a surge of 3,921% during his first return to the crypto space on May 13. It went from trading for $0.0004914 to $0.01976 and after a mild retracement, it settled down to the $0.0035 price range.

With Gill’s second major return, the interest in the Solana memecoin surged again by a staggering 1,500%, and the daily trading volume reached a whopping $237 million. Since his latest post, the token has increased by more than 300%, moving from $0.003907 to $0.01594, raising eyebrows as the market opened on Monday.

Interestingly, a savvy GME whale is bearing fruitful results of their prudent trade move. The whale, who is known for buying Solana’s GME at low prices and selling at high prices, has banked sizeable profits. In February, the trader spent 1,409 Solana (SOL), valued at about $165,000, to buy 68 million GME after the token’s first price dip. They sold $35 million GME for 3,447 SOL, a whopping $503,000 worth, after Gill’s first comeback. The trader snapped up another 78.57 million tokens for 3,059 SOL when the price dipped to $0.0067. At that point, the yield was around $593,000 unrealized profits. Now, after Roaring Kitty’s second grand comeback, the trading whale owns a total of 108 million GME tokens. Their current holdings, worth an estimated $1.5 million, represents an unrealized profit of $1.37 million on the Solana based memecoin. This trader’s calculated risk is a testament to the overwhelming influence of Roaring Kitty on the trading world.