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- 1 GME Memecoin is making a buzz in the market, beating the gains of big cryptos.
- 2 Kennedy Jr. bought $24,000 in GameStop (GME) stocks.
Meme coins have dominated the cryptocurrency market in recent weeks, consistently experiencing significant gains and profits.
Recently GameStop (GME) made so much buzz in the market after the Roaring Kitty backed to the table and tweeted about it. After the tweet market went crazy and the meme coins surged tremendously. Moreover, memecoins like GameStop gave approximately 2000% at that time.
GME has emerged as the top choice among meme coins due to its sustained gains and growing market demand.
Kennedy Jr. Accumulated $24,000 in GME stocks
Bitcoin-friendly US Presidential candidate Robert F. Kennedy has bought GameStop shares as part of the retail revolution. He expressed support for retail investors and vowed to eradicate market manipulation from Wall Street if elected.
Kennedy invested $24,000 in GameStop using funds from a lawsuit against Monsanto, emphasizing the importance of a free and fair market. Kennedy Jr. is connected to RoaringKitty and Kat Stryker, key figures behind the infamous GME pump.
RoaringKitty has been interacting with crypto investors such as Ansem, leading to speculation that he might enter the crypto market soon. Moreover, traders like EllioTrades suggest that Kennedy Jr. might engage with meme coins as part of his presidential campaign efforts.
Thug Trader Makes Profits in GameStop (GME)
A thug trader managed to profit despite a plunge in GME price. They recently used 3,059 SOL, which is worth $526,000, to buy 78.57 Million GME tokens at $0.0067.
This individual had previously dealt with $GME. Specifically, on February 15 and 16, they invested 1,409 SOL, or $165,000, to acquire 68 Million $GME at a lower price of $0.0024.
Since the price of $GME dropped, a trader spent 3,059 $SOL($526K) to buy 78.57M $GME at $0.0067.
— Lookonchain (@lookonchain) May 20, 2024
This trader spent 1,409 $SOL($165K) to buy 68M $GME at $0.0024 on Feb 15 and Feb 16.
After holding it for 3 months, $GME ushered in a rise.
He sold 35M $GME for 3,447 $SOL($503K)… pic.twitter.com/CKzT3XvzIM
After holding onto the tokens for three months, the trader saw an opportunity as $GME’s price began to rise. On May 13 and 14, they sold 35 million $GME for 3,447 SOL, totaling $503,000, at a considerably higher price of $0.0144.
At press, the trader holds a significant 111.57 million $GME, valued at about $781,000. This strategy has led to a total profit of around $593,000, showcasing the trader’s skill in navigating volatile market conditions.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
