GME cryptocurrency on Solana experiences an impressive 300% surge amid GameStop stock resurgence.

In a recent announcement made by Keith Gill, also known as ‘TheRoaringKitty,’ it was revealed that he possesses call options for GameStop (GME) valued at $65 million with a strike price of $21. These options are set to expire in 19 days. As a result of this disclosure, the price of the GME cryptocurrency on the Solana (SOL) blockchain experienced a momentary surge of over 300%.

This surge in price is in line with the overall trend of GameStop’s stock, which has seen a significant increase in premarket trading, nearing a 100% rise.

One trader, in particular, was able to make substantial profits from this market movement. This trader had placed a limit order that was triggered, leading to the sale of 3.5 million GME tokens for 260 SOL (equivalent to approximately $43,000) at a price of $0.01226 per GME.

Despite this sale, the trader still holds a sizable position of 108 million GME tokens, valued at around $1.5 million. So far, the total profit from these trades amounts to approximately $1.37 million.

For those who followed this trader’s recommendations and invested in GME, the current profit would be more than five times their initial investment when reviewing the transactions and holdings on Solscan.

It is important to note that the content on this site should not be considered investment advice. Investing carries a level of speculation, and there is a risk of capital loss.