Keith Gill (Roaring Kitty) Discloses $180M Bet on GameStop (GME), Meme Coin Sector Rallies

GameStop (GME) stock soared by 19% in overnight trading on Robinhood following a revelation by Keith Gill, famously known as “The Roaring Kitty.”

After revealing his notional GME holdings, Keith Gill sparked a crypto traders' rally.

What Happened: GameStop (NYSE:GME) stock soared by 19% in overnight trading on Robinhood (NASDAQ:HOOD) after Keith Gill, known as “The Roaring Kitty,” disclosed holding $180 million in GME shares and call options.

This revelation marked Gill's first Reddit post since April 2021, surprising traders who closely follow his investment updates. Gill's bold wager hinges on GameStop's share price reaching at least $20 by June 21.

A screenshot showed Gill's investment of $115.7 million for 5 million GME shares and an additional $65.7 million in call options. His portfolio showed a gain of over $9.3 million from the shares, while his options currently reflect a loss of nearly $2.5 million.

Impact On Meme Coins: Gill's revelation also triggered a significant rally in the meme coin sector, particularly impacting the Solana-based GME meme coin.

This digital asset witnessed a 220% surge in value, pushing its market capitalization to over $85 million within 24 hours.

Market enthusiasts on platforms like X (NYSE:TWTR, formerly known as Twitter) speculated that GME will surge further.

“If the rumors I'm hearing are true, this might be a one-off event in the history of Solana. We can be looking at a $2-3 billion market capitalization,” a crypto enthusiast, G-Chairman, noted.

Moreover, the sentiment around meme investments has intensified, with community members recalling the trading restrictions during the 2021 GME short squeeze.

Investors, wary of potential similar restrictions, are diversifying their bets to include meme coins like GME on the Solana blockchain.

Solana meme coins, kitty-themed crypto & more soared following Keith Gill's latest Reddit post revealing his GME holdings.

Here's a closer look at the impact on these digital assets.

Solana Meme Coins Surged: Gill's revelation led to a 220% surge in the Solana-based GME meme coin, pushing its market capitalization to over $85 million within 24 hours.

This remarkable performance was driven by traders who quickly piled into the GME meme coin following Gill's disclosure.

As a result, the digital asset's value soared, and it became one of the top gainers among crypto assets during that session.

Other kitty-themed cryptocurrencies, such as Kitty AI, also saw their values double in response to the current market excitement.

This surge mirrors the broader impact of Gill's influence, which is often seen in meme stock and meme coin rallies following Gill's return on X. In mid-May, GameStop and AMC (NYSE:AMC) shares leaped over 70%.

Today, Gill posted a green UNO reverse card on X, adding an element of mystery. This move is typical of his cryptic communication style, which often precedes significant market movements.