Financial analyst and investor Keith Gill earned a lasting reputation by posting his analysis of GameStop NYSE stock on the subreddit r/wallstreetbets under the username DeepFuckingValue (DFV) and as RoaringKitty on X and YouTube.
Gill chronicled his gains and helped inspire the members of the now-famous subreddit to help spark a frenzy of activity around the formerly struggling stock. The surge in activity foiled institutional investors intent on shorting GameStop stock, causing a rally that cost them nearly $1 billion, and turning his own $53,000 investment into one worth close to $50 million as of January 2021.
Nearly a month ago, after years of silence, Gill returned to X, causing a 4000% surge in the value of meme coin GME on Solana GME/USD in a single day. This surge propelled GME on Sol's 24-hour trading volume into the top 25 cryptocurrencies, despite it not being listed on any major exchanges.
Recently, Gill updated his Reddit and YouTube accounts, creating another surge. With new listings on 10 exchanges, GME on Sol climbed into the top 15 digital assets by trading volume globally, surpassing leading meme coins such as Shiba Inu SHIB/USD, dogwifhat WIF/USD, and Floki FLOKI/USD.
We spoke with GME on Sol leaders to gain their perspective on riding this highly volatile project to new, unprecedented levels of success and their plans for the future. GME on Sol Lead Tycho provided responses.
BZ: To what do you credit your recent gains?
Kal: “It's all due to the community's drive and conviction. We wouldn't be here today without a rock-solid community that never gave up and kept believing in this narrative and the people here.”
BZ: Does the success of GME on Sol indicate a decoupling of Bitcoin prices and altcoins?
Kal: “Overall, everything will follow the king, BTC. However, there are times when a catalyst can be bigger than BTC. And there is nothing bigger than Roaring Kitty.”
BZ: Why is there all the focus on meme coins this year? What do people want from meme coins that they can't get elsewhere?
Kal: “There's a mix of crypto, community, culture, and money here that you can't find anywhere else. There is also no space that is as fun and hilarious as meme coins.”
BZ: What do you say to the many market analysts who have long dismissed meme coins altogether?
Kal: “I would say they are missing the fact that meme coins represent the cultural appreciation of memes in themselves. Memes have been a huge part of culture for over a decade and this is the only place where you can buy into a meme and the culture it creates itself. And GME is considered a meme stock which makes the meme coin that much stronger.”
BZ: What is the narrative of GME on Sol? What's the vision?
Kal: “The narrative is simple: We are a safe haven against all scammers and rugs in the space. We are the people's coin. We stand up to big government and those who try to control the little man. We want equality and financial freedom, and we will do it together! You cannot turn off our buy button!”
What’s next for $GME on Sol…
GME on Sol rose 150% on Saturday, leading up to Gill’s first YouTube livestream in almost three years. GME on Sol dropped in the days following the livestream. The meme token has risen and fallen over the past week, looking for a steady position and a possible price correction over the initial exuberance.
GME on Sol is taking advantage of this huge surge in activity to drive more relationships with top-tier exchanges are ongoing, and they expressed confidence that these developments will secure GME on Sol’s position in the top 50 trading volumes for “years to come.”
GME on Sol has been building its community through X Spaces, a bi-weekly lottery and poker tournament, an upcoming NFT project, and GME University, a learn-to-earn program for new crypto enthusiasts currently in beta.
Image generated using artificial intelligence via Midjourney.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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