In 2021, the world discovered that a random guy with a Reddit account could wield more influence than a Wall Street titan with a seven-figure bonus.
Welcome to HODL FM, we are here to narrate how with the power of memes, a catchy username, and an ironclad belief in the underdog, one man orchestrated a financial “David vs. Goliath” championship that went on to inspire a Netflix reality show.
Related: From Bluebird to X: Twitter’s Transformation
After a 3-year hiatus from social media, the man behind 2021’s GameStop short squeeze is back. Keith Gill posted for the first time since 19th June 2021, which has left speculatores wondering whether its time for GameStop 2.0.
Well with only one post, Gill has done more for online engagement in a day than all the cat videos of 2023 combined. Because what is the internet without its favorite financial rebel stirring up the stock market cauldron? Hedge managers are probably seated on the edge of their seats preparing for PTSD sessions.
Degens are hoping their trades won’t be the same with Gill’s dramatic comeback which saw his latest post steer massive activity across Solana-based memecoins launching on the newly released Pump.fun Web3 platform.
Hundreds of Thousands of Tokens Have Launched on the Solana-based Protocol
KiethGillWifHat, GameOver, and GME Stonks are a few of the 20,000+ tokens that launched on Pump.fun within the last 48 hours following Gill’s post on X, which surfaced online for the first time in 3-years.
Besides the popular X post, another attribute that must have driven an increase of activity across Solana-based memecoins is the Pump.fun platform which allows developers to launch memecoins for only $3 worth of Solana (0.02 SOL).
On Sunday, 14,500 tokens launched on pump.fun. The following day Monday saw the launch of 7,400 tokens. Pump.fun went on to post via its X account that it was a great day for cats following the flood of meme coins referencing Gill’s cat-themed token.
However, Pump.fun warned its users about the dangers of meme coins, their susceptibility to rug pulls and how they can be an easy target for price manipulation.
Increasing numbers of Gill and GameStop-themed coins added to a growing list of 500K+ tokens already deployed via the Solana-based launchpad protocol since its release in January 2024. Pump.fun has collected approximately $19 million or 127,000 SOL in revenue as gas fees since it launched.
The GameStop Saga Challenged the Little Guy Trading from their Basement to Take on Wall Street
The rest is history.
The famous GameStop short squeeze would not have been possible without Gill’s ability to mobilize thousands of traders to bet against Wall Street in 2021.
As Gill rallied the troops on Reddit, thousands of basement-dwelling day traders—fueled by a mix of boredom, stimulus checks, and a burning desire to stick it to the man—joined forces. It was like watching the Avengers assemble as if they were really into snack breaks and hadn’t seen sunlight in days. Together, they launched an assault on Wall Street’s elite, who probably spilled their overpriced coffee as GameStop’s stock price rocketed to an eye-watering $483.
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