Pseudonymous trader One-piecewith the appropriate nickname “Disgusting boy,” shared an update on his Good BONK/USD trade that saw $16,000 turn into several million.
What happened: The trader became famous on “Crypto Twitter” in late 2023 for opening a long position on Bonk when the token had a market capitalization of $20 million.
Bonk has reached a market capitalization of over $2 billion, meaning the trader’s position was worth $12.7 million at its peak.
The following retracement saw him lose millions in unrealized gains, sparking heated debates on social media which led to the suspension of his account:
Following Bonk’s resurgence, the trader posted an update on his profit and loss, which showed a screenshot stating that he had gone from $3 million to an unrealized profit of over $7.4 million.
“Bonk Guy” is in no mood to sell, saying this is “just the beginning.” His reasoning: “There is literally *only* one new retail memecoin that can bid on Coinbase: BONK.”
Read also: Bonk goes crazy with 62% daily gain, eclipsing Dogecoin, Shiba Inu: Whale trader pockets $2.9 million
Because matter: “Bonk Guy” is another startling testament to the volatility of the cryptocurrency space.
While some traders, like one who made $10,800 from $51 with a Nvidia memecoin or another making $1.8 million with Dogwifhat cash in on their profits, others stay true to the “diamond hands” crypto mantra.
An example is the trader who turned $2,708 into over $3 million with Memecoin ITSELF TRUMP/USDsaying it will go into “billions and billions.”
Bonk, which is the Solana SOL/USD equivalent to Dogemoneta DOGE/USD AND Shiba Inu SHIB/USDit could truly become a retail investor darling if the cryptocurrency rally continues.
However, as with all memecoins, social sentiment can change in an instant.
Read next: Here’s how much you should invest in Shiba Inu today for a $1 million payday if SHIB hits 1 cent?
Image created with Midjourney