In overnight trading on Robinhood, GameStop (GME) shares jumped by 19% after Keith Gill, known as "Roaring Kitty," made a surprising announcement.

Posting on his Reddit account "DeepFuckingValue," Gill shared that he has invested over $180 million in GME shares and call options. This is his first post since April 2021.

Crypto Traders Rush to GME Meme Coins

Gill's post showed a screenshot of his investments: $115.7 million for 5 million GME shares and another $65.7 million in call options. His strategy bets on GameStop’s stock price reaching at least $20 by June 21.

Although his shares brought a profit of over $9.3 million, his call options are currently down by almost $2.5 million.

Explore: Trending Meme Coins and Altcoins of 2024

Following Gill's disclosure, there was a notable surge in the meme coin market. The Solana-based GME meme coin experienced a 220% increase in value, pushing its market cap beyond $85 million within a day.

Market enthusiasts on platforms like X (formerly Twitter) are optimistic about GME's future.

"If the rumors are true, this could be a unique event in Solana's history. We might see a market cap of $2-3 billion," said crypto enthusiast G-Chairman.

The excitement around meme investments is growing. Many remember the trading restrictions during the 2021 GME short squeeze. To avoid similar issues, investors are diversifying into meme coins like the GME coin on Solana.

In conclusion, Keith Gill’s significant investment in GameStop has not only boosted GME shares but also ignited a rally in related meme coins, reflecting a renewed interest and optimism in these speculative investments.