Return of ‘DeepFu*kingValue’ Sends GameStop Stock and Meme Tokens Soaring on Reddit

In a resurgence reminiscent of his GameStop short squeeze fame in 2021, Keith Gill, widely known as ‘DeepFu*kingValue’, reignited market excitement by sharing his GME options positions on Reddit, sparking a surge in speculative activity across meme tokens and related equities.

Gill’s reappearance on the scene after a three-year hiatus spurred a speculative frenzy, driving up the prices of meme tokens and GameStop (GME) shares. His post on the r/superstonks subreddit unveiled his GME options positions, revealing bets exceeding $116 million in shares and $63 million in call options set to expire on June 21. Already, he has secured a net profit of $6.8 million from these positions.

Following Gill’s viral Reddit post, related stocks and cat-themed meme tokens experienced significant surges. Tokens like toshi (TOSHI), mog (MOG), keycat (KEYCAT), and wen (WEN) saw gains of up to 37% within 24 hours, as per CoinGecko data, with the bulk of the increases occurring after Gill’s post. Additionally, GME, a Solana-based meme token mirroring the company’s stock ticker, soared over 200% according to DEXTools data.

In premarket trading, GameStop shares surged by over 80%, while cinema chain AMC Entertainment Holdings Inc. (AMC) rose as much as 36%, according to MarketWatch data.

This marks the second instance in less than a month where Gill’s social media activity has influenced both crypto and stock markets. In May, a post on his @TheRoaringKittyX account triggered rallies across Solana meme tokens.

Gill’s rise to prominence began with his analysis of GameStop’s financials on Reddit forums in 2019, a phenomenon that gained traction during the COVID-19 pandemic. This analysis, which evolved into a viral movement, was a key driver behind the GameStop short squeeze of January 2021, as numerous small-time traders united to purchase options and leveraged shares of the company.

His initial $53,000 investment ballooned to nearly $50 million at its peak, cementing his status as a rags-to-riches success story and inspiring a devoted following.