Legendary trader Roaring Kitty posts comeback meme, Solana memecoin $GME soars 500%
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Keith Gill, also known online as Roaring Kitty (also known by other pseudonyms such as DeepF*ckingValue), has posted a cryptic meme on X.
Notably, this was Gill’s first post in roughly three years since the events surrounding the GameStop case and the shutdown of the WallStreetBets subreddit.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
The meme depicts a man leaning forward from a sitting position while holding what appears to be a smartphone. Notably, the meme has a red chair and a red arrow going right, indicating some sort of movement or directional change.
Gill is largely credited for spiking the GameStop stock surge in late 2020. Gill worked as a financial analyst, became convinced that GameStop stock was undervalued and shared this belief on Twitter (now X) and YouTube using the handle RoaringKitty.
In 2019, Gill purchased $53,000 worth of GameStop stock. As he continued posting about the stock on social media, more retail traders (everyday people who trade stocks) began buying GameStop, leading to a rapid rise in the stock price. When GameStop’s stock price peaked at $483 per share in January 2021, Gill’s investment was valued at nearly $48 million.
Gill’s identity was revealed shortly after the GameStop stock surge by Reuters who identified him using public records. In February 2021, Gill testified to Congress about his role in the GameStop stock saga, stating that he thought the stock was “dramatically undervalued.”
In September 2022 and 2023, Netflix and Sony Pictures released a docuseries and a movie titled “Eat the Rich: The GameStop Saga” and “Dumb Money,” respectively, which spotlighted Gill’s journey.
A Solana memecoin ($GME) made to commemorate the events surrounding the GameStop controversy suddenly surged $510.9% just over eight hours since Gill’s X post.
“The $GME memecoin pays homage to the GameStop saga anniversary, showing we can stand up to the big guys together,” states the token’s official website.
According to data from CoinGecko, the token’s price has been largely inactive since its creation in late January. It remains unclear whether Gill has any connection with the token.
Disclaimer: The author does not hold any crypto above $100 in value and only purchases crypto for utility and experimentation, not investment.
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Author: Vince Dioquino
