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Keith Gill’s GameStop Options Position Sparks Meme Token Rally

Influential retail trader Keith Gill, known for the 2021 GameStop short squeeze, has reignited market excitement with a recent post on the r/superstonks subreddit. Using his “DeepFu*kingValue” alias, Gill revealed his substantial GameStop (GME) options positions early Monday during Asian trading hours.

Gill’s post showcased over $116 million in GME shares and $63 million in call options set to expire on June 21. His strategic bets have already netted him $6.8 million, sparking a speculative frenzy.

Market Reactions

The viral Reddit post sent ripples across both stock and crypto markets. Cat-themed meme tokens such as toshi (TOSHI), mog (MOG), keycat (KEYCAT), and wen (WEN) surged by up to 37% in the past 24 hours, as per CoinGecko data. GME, a Solana meme token, soared over 200% according to DEXTools data. GameStop shares also climbed by more than 80%, while AMC Entertainment Holdings Inc. (AMC) saw a 36% increase in premarket trading, based on MarketWatch data.

This is the second time in under a month that Gill’s social media activity has influenced crypto and stock markets. His May post on the @TheRoaringKittyX account triggered similar rallies across Solana meme tokens.

Keith Gill’s Influence

Gill earned his reputation and market authority by analyzing GameStop’s financials on Reddit stock market forums starting in 2019. His insights gained traction during the COVID-19 pandemic, culminating in the viral GameStop short squeeze of January 2021. This phenomenon saw small-time traders unite to purchase options and leveraged shares, driving the stock price up significantly.

Gill’s initial $53,000 investment in GameStop reached a peak value of nearly $50 million, cementing his status as a rags-to-riches success story and garnering a dedicated following.

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Disclaimer: Not Investment Advice

it’s crucial to understand that the information provided here is not to be construed as investment advice. The crypto market is dynamic and highly speculative, and decisions should be made based on thorough personal research and consideration of individual risk tolerance. Always consult with financial professionals and conduct your own due diligence before making any investment decisions. The intention of this exploration is to present insights and trends, not to provide specific investment recommendations.

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