In early May, stock trader and analyst Keith Gill, known on social media as “The Roaring Kitty” and who largely fueled the GameStop frenzy in late 2020, signaled his return to the markets after three years of silence.
Roaring Kitty returned to Reddit after more than three years and fueled the rise in some altcoins.
Sharing on Reddit, Gill shared a $181.4 million GameStop (GME) position, leading to a significant increase in the GME stock price.
Gill's post also caused an increase in some altcoins. Meme tokens named GME, ROAR and KITTY experienced a huge jump after Gill's post, and according to the data, they increased by up to 315%, 840% and 500% respectively.
At the time of writing, GME is $0.0129; KITTY continues to trade at $0.0144 and ROAR at $0.0018.
After these increases, an investor sold 3.5 million GME at $0.01226 for 260 SOL ($43 thousand).
According to Lookonchain, this investor, who is good at buying GME low and selling it high, still has $1.5 million worth of GME in his hands.
“Since TheRoaringKitty returned, GME 's Solana price is up more than 300%.
This smart investor's limit order was triggered and sold for 3.5 million GME 260 SOL ($43k) at $0.01226.
This smart trader is good at buying GME low and selling high!
“He still has 108 million GME ($1.5 million) on hand and his total profit is approximately $1.37 million.”
*This is not investment advice.