GameStop meme coin witnesses an upward swing by a whopping 300%

The GameStop ($GME) meme coin is experiencing an astounding upward trend of 300%. Currently, the trade price is reaching $0.01366, with a market capitalization of almost $100 million. Added to that, the daily trade volume has seen an increase of 1,000%, going beyond the $178 million mark. 

GameStop stock price went up by more than 19% following Keith Gill, nicknamed Roaring Kitty, sharing that he has a holding to the tune of $181.4 million in terms of GME stock and call options. 

Through a screenshot, Gill revealed that he had bought 5 million GME shares at $115.7 million and invested $65.7 million in call options, predicting GME would increase to $20 per share by June 21st, 2024. Gill managed to pull in more than $9.3 million on GME holdings while undergoing a $2.5 million loss on his call options. 

After Gill’s announcement, GME increased by 19.19% on Robinhood’s markets, at $27.58. GameStop finished off with a standing of $23.14. It rose by 38.8% in 2024, owing to Gill’s return. 

The meme coin space has fared better than expectations in April and May. Prime meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), have been uniting. Pepe Coin (PEPE) and Dogwifhat (WIF) have produced substantial returns in the recent past.

GameStop (GME) and meme coins remain to provide the aspect of transforming conventional wealth into making millionaires from simple investors.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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