Krutika Adani
The GameStop-inspired Solana memecoin $GME has witnessed a massive rally of 140% in the last 24 hours, with a trading volume of $374 million.
Influential crypto influencer Keith Gill, known by his pseudonym Roaring Kitty, was seen to have a massive $586 million position in the combined stock and options of GameStop.
On Thursday, GameStop shares rallied and closed with a gain of 47% in the last trading session.
Despite the similarity in names, there is no connection between the company and the memecoin.
The pump in the GameStop memecoin might be part of an elaborate pump-and-dump scheme.