Bonk Millionaire Resurfaces: 'From $16K To $12.7M ... To $3M And Now Back To $7.4M ... Only Just Beginning'

Pseudonymous trader Unipcs, with the apt nickname "Bonk guy," shared an update on his Bonk BONK/USD trade that saw turn $16,000 into several millions.

What Happened: The trader gained fame on "Crypto Twitter" at the end of 2023 for opening a long position on Bonk when the token was at a $20 million market capitalization. 

Bonk proceeded to run to a market capitalization of over $2 billion, meaning the trader's position was worth $12.7 million at its peak.

The following retrace saw him lose millions of unrealized gains, sparking heated debates on social media that led to his account being suspended:

Following Bonk's resurgence, the trader posted an update on his profit and loss, which showed a screenshot stating he had gone from $3 million to an unrealized profit of more than $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 memecoin retail can bid on Coinbase: BONK."

Read Also: Bonk Goes Bonkers With 62% Daily Gain, Eclipsing Dogecoin, Shiba Inu: Whale Trader Pockets $2.9M

Why It Matters: "Bonk guy" is yet another astounding testament to the volatility of the cryptocurrency space.

While some traders, such as one profiting $10,800 from $51 with an Nvidia memecoin or another making $1.8 million with Dogwifhat cash out their profits, others stay true to the crypto mantra of "diamond hands."

One example is the trader who turned $2,708 into over $3 million with MAGA Memecoin TRUMP/USD, saying it will go to "billions and billions."

Bonk, which is the Solana SOL/USD equivalent of Dogecoin DOGE/USD and Shiba Inu SHIB/USD, may indeed become a darling of retail investors if the cryptocurrency rally continues.

However, as with all memecoins, social sentiment can turn on a dime.

Read Next: Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

Image created with Midjourney