Morning Minute | Roaring Kitty Approaches Billionaire Status as GME Saga Continues
TylerD's Market Summary
📈 Roaring Kitty May Become A Billionaire Today
A few weeks back Roaring Kitty made his iconic comeback to Twitter with a simple meme showing him leaning in.
He wasn't joking.
And now he's leaning in to potential billionaire status as the Gamestop saga takes a wild turn.
What Happened?
Yesterday GameStop stock (GME) jumped 47% to $46.55 and a whopping $14.25B market cap.
Seemingly (or at least somewhat) on the back of RK scheduling a YouTube live stream for today at 12 pm ET.
Lead character Roaring Kitty then posted his updated open position, up 219% on the day to $586M.
Which includes $232M in GME stock and a whopping $324M in GME $20 call options (June 21 expire) and a $29M cash position.
And that was before the GME stock jumped another 37% after hours to $63.49.
That level is notable because at the price of around $70, RK will become a billionaire.
Unrealized, but still - 3 comma club.
With nearly 2 weeks still to go before the options expire.
Crypto Market Impact
While the GME stock pumped a wild 47%, once again that paled in comparison to the crypto market gains.
- The $GME token on Solana jumped 105% to $169M mc (hit $220M+ at peak) on $100M in trading volume
- The $KITTY token (named after RK's likeness) soared 200% to $21.5M
- $SUPERSTONK (the platform RK posts on) popped 90% to $2.6M
- And GME beta play $AMC jumped 71% to $10M
So even the lowest performer on that list outperformed the GME stock in daily returns.
Why It Matters
The GameStop saga is once again all over the timeline and permeating broader media.
And it comes at a time when crypto has a ripe set up with BTC ETFs live and BTC near ATH, ETH ETFs coming, Robinhood leaning into crypto with its latest acquisition, major institutions launching funds and the memecoin casino in full swing.
It's not a wild stretch to think retail participants enjoying the GME meme stock craze may venture over into the crypto memecoin craze.
The pitch is easy - the returns are better. Much better.
Time will tell if this theory plays out.
As for today - expect fireworks. Starting at 12 pm ET.
🚚 What else is happening in NFTs?
Here is the list of other notable headlines from the day in NFTs:
- BTC led NFT trading volume with $7.1M on the day (+110%); ETH was next with $6.3M (+23%) and then Polygon with $3.8M (+30%)
- BTC NFT leaders fell back again on the day; Puppets -10% at 0.17 BTC, NodeMonkes -13% 0.25, OMB -3% at 0.279 and Quantum Cats -3% at 0.299
- The Runes board also saw red with DOG -10% ($800M mc), RSIC -5% ($237M) and PUPS -10 to $196M
- ETH NFT leaders were red with BAYC -7% to 11.79 ETH, Pudgy -1% at 10.34, Azuki -1% to 3.96 and Milady -1% to 4.62
- 0n1 Force and Checks were notable outperformers on the day
- Solana NFTs were mixed; Mad Lads +5% at 62 SOL, SMB Gen 2 even at 22, DeGods -3% at 24
- Blast FTs were mostly red with Blastin Pepes even at 0.14, Blastopians -34% to 0.07 and Apollo -25% to 0.06 ETH
- Mocaverse will now allow users to link their MocaID to a Telegram account
- Three people were charged in connection with the Evolved Apes NFT collection which was a $3M rug
💰 Token, Airdrop & Protocol Tracker
Here's a rundown of major token or airdrop news from the day:
- Fantasy Top teased new tourneys coming soon (not yet to come)
- The Sandbox announced a $20M raise at a $1B valuation, planning to use the capital to develop a metaverse for mobile
- PRIME reached over $100M staked in its first day of caching going live (though falling 8% to $16.27)
- Telegram announced a new internal currency called "Stars" as a method of digital payment which can be withdrawn to TON
- Liquidium has turned on beta for c, enabling borrowing against rune positions for the first time on Bitcoin
🌎 Around Crypto and Web3
A few other Crypto and Web3 headlines that caught my eye:
- Crypto majors are mixed this morning; BTC +0.7% at $71,500; ETH -0.5% at $3,830, SOL -0.5% at $172
- Memecoin majors are mostly red with DOGE -1%, PEPE -3%, WIF -2%, BONK -4%;
- GME soared as high as $210M+ after Roaring Kitty scheduled a live stream for later today and the GME stock pumped 47% to a $14.25B mc (even higher after hours)
- Franklin Templeton is considering to launch a Crypto Fund focused on investing in tokens "beyond" BTC and ETH
- Robinhood announced the acquisition of Bistamp, one of the oldest cryptocurrency exchanges that spans Asia, US and Europe
- Hulk Hogan had his socials hacked and a $HULK token launched, running to $20M at peak before falling back to $2M
- Kraken is reportedly in pre-IPO funding talks seeking to raise $100M+ and looking at an IPO as soon as next year
🚀 Memecoin Movers
- $Sphynx (+5000%, $32M market cap, Solana)
- $KITTY (+200%, $22M market cap, Solana)
- $GME (+80%, $160M market cap, Solana)
- $WYAC (+65%, $15M market cap, Solana)
- $AMC (+46%, $9M market cap, Solana)
📈 NFT Floor Price Increase (ETH)
- On1 Force (100%, 0.29 ETH Floor)
- Checks Edition (60%, 0.29 ETH)
- Checks Originals (46%, 0.16 ETH)
- Ceden Keystone (35%, 0.15 ETH)
- Nouns (30%, 7.7 ETH)
🗓 Upcoming NFT Mints and Reveals
Today is a busier day of mints and events.
Trevor Jones is back with a Bitcoin drop, Amber Vittoria is dropping on Base and Luca Ponsato is the Onchain Summer artist on Prohibition.
The highlight today though is definitely the Roaring Kitty live stream at 12 pm ET which is likely to have major impacts on GME stock, the Solana token and its betas.
Buckle up.
See the full list and dive in for more details with Swizzy's daily mint monitor.
- Seneca - MENACE (9:00 a.m. ET)
- Memes by 6529 (11:00 a.m. ET)
- Roaring Kitty YT stream (12:00 p.m. ET)
- Luca Ponsato x Prohibition - Onchain Summer (12:00 p.m. ET)
- Amber Vittoria - Feels (1:00 p.m. ET)
- Trevor Jones - CryptoAngels (3:00 p.m. ET)
Enjoy this write-up and/or want to sponsor the Morning Minute? Follow along with me on Twitter @tyler_did_it or reach out via email to tyler.warner@luckytrader.com.
