Roaring Kitty Returns to Reddit After Hiatus, Triggers GME Surge

Bittime - In a surprising move, Reddit user Roaring Kitty, also known as DeepFuckingValue, has reappeared on the platform after being missing for three years. The return of Roaring Kitty coincided with a massive price increase in the meme coin GME.

Roaring Kitty Posts and GME Options

Details regarding Roaring Kitty's post are still limited. The post includes an image that suggests ownership of a GameStop stock purchase option worth a fantastic US$65 million. This option reportedly has an exercise price of US$21 and will expire on June 21, 2024.

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GME Coin Soars Over 213%

Roaring Kitty's return sent shockwaves through the cryptocurrency community, especially those invested in GME. HTX market data shows the meme coin built on the Solana blockchain skyrocketed more than 213% in the last 24 hours. Currently, GME is trading at around US$0.012452 per USDT (Tether).

Possible Reasons Behind Price Surge

While the exact cause of the price increase remains unclear, the reappearance of Roaring Kitty is likely a significant factor.

• Renewed Investor Confidence: Roaring Kitty was a key figure during the GameStop short squeeze earlier in 2021. Their return to cyberspace may have re-instilled confidence among investors, leading to a surge in buying pressure.
• Speculation on Option Use: Images suggesting a call option on GME shares have fueled speculation. Some investors may be anticipating the potential exercise of this option by Roaring Kitty, which could further push up the price of the underlying stock and possibly also the meme coin.

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Conclusion

It's important to remember that the cryptocurrency market is inherently volatile. The recent rise in the price of GME should not be considered financial advice. Investors should always do their own research before making any investment decisions.

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How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via  Bittime .  Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.

Monitor price chart movements  of Bitcoin (BTC) ,  Ethereum (ETH) ,  Solana (SOL)  and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

GameStop (GME) Price Prediction, Will it Reach $86?

GameStop Phenomenon & Its Impact on Memecoin Solana

Gamestop & AMC Sluggish Even Though "Roaring Kitty" Returns 

DISCLAIMER:  This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.