Solana meme coin GME has sparked a market frenzy! The GameStock token exploded after ‘Roaring Kitty’ a.k.a Keith Gill, revealed that he owns over $115.7 million worth of shares in the video gaming retailer. Apart from the shares, the influential investor, recently posted a screenshot on r/SuperStonk subreddit, divulging, that he also has about $65.7 million in call options expiring on June 21 with a strike price of $20 each. With this, his total position came close to $200 million in Gamestop.

Taking advantage of the hype, an anonymous trader bought $1.61 million worth of the GME in a single transaction. Data from DEX Screener showed that the mystery investor made the massive purchase significantly impacting the token’s price and trading volume. The chart also captured the price movement on Solana AMM Raydium, showing a dramatic spike around 20:00 UTC. Here, it can be seen that the price jumped to a high of $0.02891 before stabilizing around $0.01526.

The transaction consists of buying a total of 105,359,075 GME tokens in exchange for 9,688 SOL, highlighting the growing popularity of GME. This move could be indicative of larger trends in the crypto market, where meme tokens continue to attract significant attention and investment. This sudden surge in volume and price showcases the rising vote of confidence in the meme coin market.

GME Buzz: Keith Gill Faces ETrade Ban

However, not everyone is pleased with Keith Gill’s acquisitions of GameStop stock. ETrade, a prominent retail stock trading firm, is considering removing him from its platform due to concerns about potential stock manipulation. However, meme coin enthusiasts believe that punishing a retail investor for disclosing his position is unwarranted.

Others echoed the sentiment accusing Hedge funds of far worse behavior that includes leveraging their substantial financial power to manipulate markets, influence company strategies, and even disrupt economies to achieve outsized returns.

However, when market dynamics (apes HODL) shift unfavorably, these same hedge funds frequently adopt a victim mentality, decrying market inefficiencies or regulatory overreach. This dichotomy highlights their propensity to wield power unilaterally while expecting sympathy and bailouts during downturns, underscoring a dissonance between their actions and their reactions to loss.

No, you’re not a trillionaire. However you’d be forgiven for soiling your trousers once you took a peek on the value of your favourite cryptocurrency investments on CoinMarketCap on Tuesday afternoon.

CoinMarketCap squashed the goals of crypto buyers round 5pm ET on Tuesday when it defined in a tweet that the surprising soar in value of a wide range of cryptocurrencies was attributable to “value points” and wasn’t actual.

“Our web site is at the moment present process Value Points,” the corporate tweeted early Tuesday night. “We’re at the moment investigating and can replace this standing when we have now extra info.” As such, it’s at the moment unclear whether or not this was a safety incident or just a glitch. We’ve reached out to CoinMarketCap for an evidence.

It seems as if the worth of each coin jumped by a number of orders of magnitude, with the worth of a single Ethereum coin, for instance, rising to greater than $500 billion (Actual value: Round $3,800.) Bitcoin, in the meantime, jumped to round $789 billion. That put Bitcoin’s market cap at someplace between a quadrillion {dollars} and the Moon.

Between the time the problem first appeared and it apparently being mounted—apparently, a few hours, in line with CoinMarketCap and social media exercise—numerous crypto bros noticed their web price skyrocket into Elon Musk territory.

Sadly, false goals of trashing the boss’s workplace and shopping for a libertarian island paradise off the coast of New Zealand have been rapidly dashed. And CoinMarketCap was so form as to mock the hopeful with enjoyable, cool tweets.

Whereas CoinMarketCap is having a grand ol’ time, it’s clearly not clear how many individuals cashed out in some way considering the worth of the Shiba Inu crypto had actually jumped to over $22,000 when, in actuality, its value is at the moment $0.00003365 per coin. Hopefully, most buyers checked the actual change price earlier than blowing all their, uh, arduous work (?) due to a screwy web site.