- Trader’s GME token purchase results in $1.4 million unrealized profit.
- Roaring Kitty’s $586M investment boosts GME stock by 47.45% in one day.
A user opened a new wallet on June 4th and made a large purchase of 12,110 SOL ($2 million) to buy 135 million GME tokens at $0.0148 in a single transaction. With this significant purchase, the trader rose to the position of fourth-largest GME holder, according to Lookonchain.
Fascinatingly, mubeen.sol and twitterdotcomslashspyflips.sol are the domains linked to this wallet, which was paid using Coinbase. This guy’s $1.4 million unrealized profit as of right now illustrates the possible returns on wise crypto investments.
This guy who spent 12,110 $SOL($2M) to buy 135M $GME in one trade now has an unrealized profit of $1.4M!https://t.co/mI0bu2Yfx4 pic.twitter.com/aW3qrpzBDF
— Lookonchain (@lookonchain) June 7, 2024
Roaring Kitty’s Return and Market ImpactÂ
Wall Street has been a hive of activity lately as Roaring Kitty, who is well-known for his impact in the GME story, has amassed $586 million in new stock and option positions.
This big change caused the price of GameStop (GME) stock to rise an incredible 47.45% in a single day on Thursday, ending the trading session at $46.55. Concurrently, the GME meme coin based in Solana increased by an astounding 118%.
Keith Gill has made a comeback on social media, as ETHNews just reported. Known by most as Roaring Kitty, Gill’s comeback has caused significant flows into meme tokens, such as PEPE, which just hit a new high.
Unquestionably, Gill has a big impact on the market; he frequently starts big swings in the stock and cryptocurrency markets.
The Ripple Effect on Meme CoinsÂ
Other meme coins have also felt the impact of Keith Gill’s comeback and the sharp swings in GME stocks. The price rises of these tokens as investors swarm to take advantage of the excitement demonstrate the erratic but profitable character of meme-based cryptocurrency.